Latest news with #Deira
Khaleej Times
3 days ago
- Business
- Khaleej Times
Dubai: No private parking? Residents may need to pay Dh500 for a spot this summer
With the Eid Al Adha break starting next Thursday, many UAE residents preparing for summer travel are facing an unexpected hurdle - soaring private parking fees. Those without designated building parking now find themselves shelling out Dh500 to Dh600 a month just to leave their vehicles in a safe spot - a sharp increase from the Dh200 they paid last summer. 'Shocked to hear the new prices' Aliya Rehman, a bank executive living on Al Maktoum Road in Deira, said her building offers only one parking slot, not enough for her family's two cars. "We usually leave the second car in the public paid zone near our building - it's in Zone 125C,' she said. "But when we travel for more than a week, we prefer a private, multilevel lot for peace of mind." Last year, she paid Dh200 to a nearby private operator. "This year, he's asking Dh500. He says it's because the car will be idle and he'll make sure the battery doesn't drain, wash it, and keep it safe. That sounds like a good service, but more than doubling the price feels like taking advantage. We're leaving next Wednesday for our hometown, and I don't want to risk leaving the car in open parking." 'Nowhere to park' Hadi Akbari, 38, a dry fruit trader living in Al Nahda, said parking has become a major source of stress. "During normal days, I manage with public parking, usually Zone 241D. But when I travel, I look for private lots." This year, he said the problem has become worse. "Some attendants are asking for Dh600 per month, and most spaces are already taken. I am travelling to Isfahan with my family for Eid and summer break, and I don't know where to park my car." He mentioned that congestion in areas near his residence makes things more complicated. "There are spaces available in away from my office and residence. Even if I find a spot, I worry about how to to bring the car back when I return." 'They know we're desperate during holidays' Mohammed Irfan, a logistics manager from Karama, said he paid just Dh150 last year to park for three weeks. 'Now, the same place quoted Dh350 - just because I'll be away and can't check on the car." These guys know people are flying out, and they are using that to their advantage. Even public parking has become more expensive, so private operators are following suit." Irfan is flying to Hyderabad for Eid Al Adha with his family and is still figuring out where to park his car. "It's either pay up or risk a fine or maybe damage. And without building parking, I don't have a choice." With the Eid holidays being clubbed with summer vacations, hundreds of families across the UAE are heading home or traveling abroad for several weeks. But without secure parking included in their accommodation, the added costs are starting to pile up. Khaleej Times checked with several private parking providers in Deira, Karama, and Muhaisnah. Most of them said the higher rates were because of an increase in their rents and leases and also mentioned that they offer care in the owner's absence. "We don't just park the car, we protect it," said one operator. "We wash it, check it, and even send daily video updates to the owner." Another said rising costs forced them to increase rates. "Our rent and lease charges have gone up, too, so we had to adjust prices slightly." For now, with time running out before Eid, many residents find themselves stuck between high parking costs and the worry of leaving their car exposed to summer heat.
Khaleej Times
3 days ago
- Business
- Khaleej Times
Still carrying cash? Over 90% of small businesses in UAE accept digital payments
Before most of the city is awake, Deira is already moving — loud, fast, and still dealing mostly in cash. At the fish market just off Palm Deira Metro Station, the floor is slick with ice water and fish scales. Crates rattle open to reveal hammour and kingfish, striped yellow-like brush strokes. Prawns are stacked like glass, still twitching. The air smells like diesel and salt. Vendors shout in Malayalam, Arabic, and Hindi. Restaurant buyers haggle in half-sentences. A five-dirham note flutters from a pocket. No one's tapping. No one's scanning. And yet, just 20 minutes away, the future is already here. Inside a DIFC café lined with concrete and chrome, a woman in a tailored blazer taps her Apple Watch to pay for a flat white. A sign by the register reads: Contactless only. This is the UAE in 2025: one of the most digitally connected economies in the world, and yet still tethered, in many ways, to the physical currency it's preparing to leave behind. With the goal of becoming 90 per cent cashless by 2026, the country is racing towards a financial future few others have come close to reaching. In many ways, it's already there. Digital wallets are everywhere — Apple Pay, Samsung Pay, Google Pay, Careem Pay, PayBy. Contactless transactions are now so embedded in daily life that younger residents joke they haven't touched an ATM in years. Whether for groceries in Sharjah or a mani-pedi in Jumeirah, tap-to-pay is the new normal. The scale of adoption is massive. Mastercard's latest SME Confidence Index shows that 92 per cent of small- and medium-sized businesses in the UAE now accept digital payments, and many have dropped cash altogether. Eighty-three per cent of businesses say they're upgrading payment systems to keep up with customer expectations. Even in areas traditionally slower to adopt tech — tailoring shops, barbers, mom-and-pop groceries — cashless tools are creeping in. In Karama, several businesses that once only took cash now have QR codes on the counter or card machines behind them. It's less about pressure and more about practicality; once enough customers stop carrying bills, there's not much choice but to adapt. Visa's Value of Acceptance study backs that up — more than 70 per cent of the UAE merchants surveyed said they saw increased revenue and higher customer footfall after accepting digital payments. Salima Gutieva, Visa's vice president and country manager for the UAE, said small businesses often stick to cash because of 'perceived customer preference and limited payment infrastructure.' But she points to tools like Visa Direct, Tap to Phone, and Click to Pay as helping merchants overcome those hurdles. 'Education on the security and efficiency of these methods is helping more businesses see digital payments as a critical investment in growth.' The UAE Central Bank introduced a regulatory framework that allowed non-bank payment service providers to operate alongside traditional banks — a pivotal move that formally brought fintech firms into the country's financial system. It enabled services like mobile wallets, QR-code payments, and peer-to-peer transfers to scale legally. To keep pace, the Central Bank also launched sandbox environments — controlled settings where fintechs can test new products with regulatory oversight before going to market. Together, these steps have helped create a safer, more open digital payment ecosystem. It wasn't just organic growth — it was engineered. Dubai's digital authority, Smart Dubai, laid out a formal Cashless Framework, mapping the steps to a fully digitised economy. The plan starts with government services —making everything from utility bills to traffic fines payable only through digital channels. Need to renew a driver's licence or pay a parking ticket? You do it through an app or online portal. From there, the framework builds out secure 'rails' connecting banks, telecom providers, and private payment platforms. The goal is a system that's not just faster, but traceable, standardised, and built for scale. Hamad Obaid Al Mansoori, director-general of Digital Dubai, in a public statement, put it simply: 'Cashless payments are integral to daily life. We aim to establish Dubai as a global digital capital and an attractive investment destination.' And it's already paying off. According to the Emirates News Agency, the UAE's payments revenue pool is projected to hit Dh27.3 billion by 2028, fuelled by fintech growth and digital adoption across the public and private sectors. Government estimates also suggest the cashless transition could unlock more than Dh8 billion in additional economic growth annually. Still, for all the sleek infrastructure and tap-to-pay ease, cash hasn't exactly vanished. Not yet. According to Visa's Where Cash Hides report, 23 per cent of transactions in the UAE are still made in cash — mostly peer-to-peer moments like tipping valets, splitting bills, or paying for informal services. But even that number comes with nuance: 61 per cent of respondents said only one or two of their last 10 purchases were in cash. Just 3 per cent said all 10 were. Where notes are needed According to Gutieva, the cash that remains in circulation is mostly used in specific settings — like open-air markets, taxis, and informal exchanges between friends. She says it often comes down to habit or the belief that cash is quicker and more widely accepted, especially in places where digital options aren't yet the norm. 'While the UAE is advancing towards a cashless society, we still see cash usage in certain segments. This is often due to habit, the belief that cash is quicker, or retailers still only accept cash,' Gutieva said. At the same time, Gutieva points to several forces pushing adoption forward. 'Positive factors driving digital adoption include the UAE government's progressive vision, widespread smartphone use, and the popularity of ecommerce,' she said. 'Younger, tech-savvy consumers are also contributing to a shift, supported by digital platforms offering rewards, security, and convenience.' Younger, tech-savvy consumers are also contributing to a shift, supported by digital platforms offering rewards, security, and convenience" Salima Gutieva, Visa Still, that lingering reliance on cash — and what it reveals about behaviour, access, and trust — is something economist Jeremy Srouji has spent years studying. A PhD candidate in international economics at Université Côte d'Azur and the International Institute of Social Studies at Erasmus University, his work focuses on how digital payment ecosystems emerge and evolve in cash-reliant economies like the UAE. 'The move to a cashless economy is a global trend,' Srouji said. In the UAE, it's been accelerated by deliberate policy shifts — especially when the Central Bank opened the market to non-bank payment service providers, breaking open what had long been a bank-dominated space. 'This was a catalyst for diversifying the sector with mobile payments, peer-to-peer transfers, but also the lucrative online payment space.' But Srouji cautions that we shouldn't rush to call this a 'cashless' society. 'It is probably a misnomer to speak of a 'cashless economy',' he said. 'An advanced digital payments ecosystem is probably the better term, but unfortunately the marketers won that battle.' While digital payments have surged, cash hasn't exactly disappeared. He argues that cash levels have been consistently on the rise in the UAE, even as cash transactions have declined in favour of digital payments. Why? 'In a modern financial economy, there is essentially no scenario in which cash, which is central bank money, can be eliminated,' he explained. 'This is because central bank money is the ultimate guarantor of the commercial bank money — the loans, deposits, and credit instruments managed by the private banking system.' He continued: 'In a healthy, diversified, and growing economy such as the UAE, cash-in-circulation, that is cash outside of the banking system, will tend to increase alongside digital payments, in parallel with the expansion of credit, investment, and consumption.' And while policymakers often cite the shadow economy as a reason to eliminate cash, Srouji says the link isn't so simple. 'The argument is often made that eliminating cash will help to reduce the footprint of the shadow or grey economy,' he said. 'While I would agree, the matter is not as clear cut as it first appears.' He referenced a 2020 study by Cohen, Rubinchik & Shami, which 'showed that such initiatives may backfire, pushing actors in the shadow economy — particularly well-organised criminal networks — to go to more extreme lengths to launder money into the formal economy, with potentially more dangerous outcomes.' Instead of phasing out cash to crack down on crime, Srouji suggests it's more effective to focus on strengthening the UAE's existing anti-money laundering and financial crime regulations. The country has already made progress in that area, he said, and allowing cash and digital payments to exist side by side — with strong oversight — is likely a more balanced and secure approach. When it comes to financial inclusion, Srouji's stance is clear. 'If not enshrined in a comprehensive financial inclusion strategy, it can be argued that going cashless is a catalyst for financial exclusion,' he wrote. 'Truly cashless economies — such as Sweden, and South Korea — are a rarity, with low levels of inequality, where all adults have access to a basic bank account and digital payment instrument, and where the right to hold an account is often enshrined in law.' He added: 'The UAE context is different, with a rich diversity of cultures that have distinct spending and technology habits.' One key distinction, he noted, is the sheer volume of outgoing remittances by migrant workers — many of whom still rely on cash due to gaps in digital infrastructure at the receiving end. 'Some remittance corridors will always be cash-reliant, as long as digital financial services are not available at both ends of these corridors.' In simpler terms: even if a foreign worker in Dubai can send money digitally, it doesn't help if their family back home can't receive it the same way. Until both sides of the transaction are online, cash will still have a role to play. Srouji sees the UAE's digital currency experiments as a key part of making the shift to a cashless economy more inclusive. 'The question of financial inclusion is a critical one, and is the reason why, faced with the decline in cash transactions, central banks around the world are exploring central bank digital currency (CBDC) as a new form of central bank money,' he said. 'The UAE has participated in some major global CBDC initiatives, including Project Aber and Project mBridge,' he added. Aber — a joint pilot with Saudi Arabia — tested how digital currencies could be used for cross-border settlements. mBridge expands that vision, bringing together central banks from Asia and the Middle East to build a shared platform for real-time international payments. 'Depending on the model adopted, a CBDC ecosystem can provide for end-users to hold accounts directly at the central bank, which would help promote financial inclusion.' But while CBDCs aim to rebuild the architecture of the financial system, companies like Visa are focused on immediate impact. That means expanding digital payment tools into sectors where cash still dominates — and making them accessible, reliable, and secure. 'SMEs are the backbone of the UAE's economy,' said Gutieva. 'The fact that 92 per cent of these businesses are cash-free indicates a strong readiness for a digital economy… that's where the shift happens — and that's how we help the UAE meet its cashless goals.' Getting to a cashless economy isn't about one breakthrough. It requires coordination across policy, infrastructure, and user behaviour — at every level of the system. And maybe, one morning in Deira, the fish will still be fresh, the shouting still loud, the scales still wet — but the payment? That might just be a tap.
Emirates 24/7
18-05-2025
- Business
- Emirates 24/7
Dubai Municipality completes development of Dubai Creek's Deira wharf
Dubai Municipality has announced the completion of development works on the two-kilometre-long Dubai Creek wharf on the Deira side. Delivered at a total cost of AED112 million, the project aims to strengthen the quay's infrastructure, improve operational efficiency, and reinforce the historical waterway's commercial and tourism appeal. The development is part of Dubai Municipality's efforts to preserve the heritage of Dubai Creek, one of the emirate's most important maritime corridors, while supporting Dubai Economic Agenda D33. By raising the surface level of the quay and improving retaining wall resilience, the project supports growing trade volumes and ensures safe, efficient docking of vessels. Works included increasing the retaining wall height to 8.3 metres and equipping the quay with 200 anchors and 500 ship berths. These upgrades enhance maritime navigation safety and bolster the creek's ability to handle a variety of commercial and tourism-related marine activities. Marwan Ahmed bin Ghalita, Director-General of Dubai Municipality, said, 'The development of the Dubai Creek wharf on the Deira side is a strategic infrastructure milestone that supports the vision of Dubai's leadership and the objectives of the Dubai Economic Agenda D33. This project reinforces the creek's role as one of the emirate's most vital trade and tourism assets and exemplifies Dubai Municipality's commitment to making Dubai a more pioneering, sustainable, and attractive city.' He added, 'Comprehensive upgrades were implemented using advanced equipment and flexible plans that ensured uninterrupted marine traffic. Development on the Bur Dubai side is already underway, spanning 2.3 kilometres. Once completed, the works will provide enhanced safety and efficiency for maritime navigation across both sides of the creek.' Comprehensive infrastructure and tourism enhancements To improve water flow, the creek bed was dredged by 17,500 cubic metres, while 24,000 cubic metres of protective rock were placed to strengthen infrastructure durability. A total of 22,500 cubic metres of concrete and 1,315 precast blocks were used in the project. The quay's rear yard was also equipped with a 1,200-metre rainwater drainage network. In total, the development required more than 620,000 man-hours to complete. The total side area of the quay was expanded to 320,000 square feet, comprising cargo handling zones and a new public promenade designed to offer visitors a space for leisure and recreation along the waterfront. Despite rapid development across Dubai, the creek remains an iconic feature of the city's identity and continues to serve as a functional, historical, and touristic destination. Dubai Municipality awarded the contract for the project in February 2024. Follow Emirates 24|7 on Google News.
Al Bawaba
18-05-2025
- Business
- Al Bawaba
flydubai unveils refurbished Travel Shop
flydubai, the Dubai-based carrier, has officially unveiled its newly renovated Travel Shop in Deira, Dubai, showcasing a refreshed space designed to offer customers a more modern, streamlined and personalised service experience. The refurbishment marks a significant investment in the airline's retail presence and underscores its continued commitment to enhancing customer engagement across all touchpoints. Located in the heart of Deira, the Travel Shop first opened its doors in 2011, offering customers a wide range of services. Today, the renovated space features a sleek, contemporary design with digital service stations, private consultation zones and a comfortable lounge-style waiting area. Customers visiting the shop can book flights, make changes to their travel plans, access UAE visa services and choose flydubai Holidays packages, assisted by flydubai's experienced service agents. Ghaith Al Ghaith, Chief Executive Officer at flydubai, said: 'this investment in our Travel Shop in Dubai reflects flydubai's continued evolution as a brand and our ambition to provide a smooth travel experience from the very first customer interaction, reflecting the hospitality of Dubai which we carry in our name. As we expand our network and enhance our onboard offering, it is equally important to elevate our service standards on the ground and the renovated shop is a tangible expression of that commitment.' With a network spanning more than 130 destinations and a growing fleet of more than 85 Boeing 737 aircraft, the airline has been steadily investing in new routes, product enhancements and customer-focused initiatives. The renovated Travel Shop aligns with this momentum, offering an elevated environment that mirrors the airline's broader transformation. The carrier bookended 2024 with significant enhancements to its product offering. In January 2024, the carrier embarked on its multimillion-dollar retrofit programme that aims to see a full cabin refresh for its 25 Next-Generation Boeing 737 aircraft. In October 2024, flydubai unveiled its new dedicated Business Class check-in area before opening the doors to its new Business Class Lounge at Terminal 2, Dubai International (DXB) in December 2024. The flydubai Travel Shop in Deira marks the latest in a series of significant investments in elevating the carrier's customer experience, bringing a more cohesive, modern and tailored experience at every touch point, with the customer at the heart of the overall experience. The flydubai Travel Shop is open from Monday to Saturday, providing flexible hours to cater to both residents and visitors. Visit the flydubai Travel Shop at ENI Sapphire Tower, Office Number 5 and 6, Al Ittihad Road, Port Saeed in Deira, Dubai, UAE or contact the UAE Contact Centre at (+971) 600 54 44 45.
Trade Arabia
18-05-2025
- Business
- Trade Arabia
flydubai unveils refurbished Travel Shop in Deira
flydubai, the Dubai-based carrier, has officially unveiled its newly renovated Travel Shop in Deira, Dubai, showcasing a refreshed space designed to offer customers a more modern, streamlined and personalised service experience. The refurbishment marks a significant investment in the airline's retail presence and underscores its continued commitment to enhancing customer engagement across all touchpoints. Located in the heart of Deira, the Travel Shop first opened its doors in 2011, offering customers a wide range of services. Today, the renovated space features a sleek, contemporary design with digital service stations, private consultation zones and a comfortable lounge-style waiting area. Customers visiting the shop can book flights, make changes to their travel plans, access UAE visa services and choose flydubai Holidays packages, assisted by flydubai's experienced service agents. Ghaith Al Ghaith, Chief Executive Officer at flydubai, said: 'this investment in our Travel Shop in Dubai reflects flydubai's continued evolution as a brand and our ambition to provide a smooth travel experience from the very first customer interaction, reflecting the hospitality of Dubai which we carry in our name. As we expand our network and enhance our onboard offering, it is equally important to elevate our service standards on the ground and the renovated shop is a tangible expression of that commitment.'
