Latest news with #Dh5
Khaleej Times
5 hours ago
- Automotive
- Khaleej Times
Dubai: RTA to auction 350 exclusive 2, 3, 4, and 5-digit number plates
Dubai's Roads and Transport Authority (RTA) is set to offer 350 distinctive two, three, four, and five-digit vehicle number plates in its 80th online auction for private and classic vehicles. The auction will feature plates from the following codes: H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z — including Classic. Registration opens on Monday, August 4, while the auction will go live on August 11, and will run for five days. All sales are subject to a 5% Value Added Tax (VAT), and participants must hold a valid traffic file in the Emirate of Dubai. To participate, bidders are required to submit a security cheque payable to RTA in the amount of Dh5,000, along with a non-refundable participation fee of Dh120. Payments can be made at Customer Happiness Centres in Umm Ramool, Al Barsha, and Deira, or via credit card through the RTA website: Successful bidders must complete payment within 10 working days from the closing date of the auction. Payments may be made at authorised service provider centres — by cash for amounts up to Dh50,000, and by certified cheque or credit card for amounts exceeding Dh50,000. Transactions can also be completed at Customer Happiness Centres or via the RTA website.
The National
5 days ago
- Business
- The National
Emirati housing and education funds launched
Two allowance funding schemes have been launched, one for housing and the other for education, by the Ministry of Community and Empowerment. The allowances have been set up to support the nation's Social Support and Empowerment Programme, a federal initiative providing monthly support to Emirati families with limited income. The housing allowance is intended for families enrolled in the programme who do not receive any form of government housing assistance. The amount is determined based on the family's size and living conditions, distinguished between those living independently and those sharing accommodation with other households. The allowance also includes flexible terms for orphans and children of individuals serving jail terms. What about the education allowance? The education, or academic excellence, allowance is aimed at high-achieving university students. Students enrolled in accredited higher education institutions in the UAE who maintain a cumulative GPA (the grade given per term) of 3.3 or higher are eligible to receive up to Dh3,200 per month. Students enrolled in accredited UAE institutions through remote learning are also eligible. How to apply Applications can be submitted through the ministry's official digital platform via the social subsidy service. All applications are processed within 21 days of submission. Stepping up support The employment programme is the latest step by the government to provide additional assistance to its citizens. In 2022, President Sheikh Mohamed announced a Dh28 billion ($7.6 billion) social support package to provide lower-income Emirati families with subsidies to pay for essentials including fuel, food and utilities. Under the move, annual financial support for eligible families was raised from Dh2.7 billion to Dh5 billion, with the total social support budget doubling from Dh14 billion. The UAE's social welfare programme for low-income citizens is available to Emirati families whose income is less than Dh25,000 ($6,800) a month. The programme offers Dh5,000 aid a month for citizens over the age of 45, housing allowance up to Dh2,500 a month, university education allowance of Dh3,200 a month to outstanding students and Dh5,000 a month for six months to those who are unemployed. In addition, the government offers an inflation allowance, which covers food, electricity, water and fuel costs.
Khaleej Times
5 days ago
- Business
- Khaleej Times
Look: Most expensive home in Abu Dhabi sold for Dh400 million
Aldar on Thursday announced the record-breaking sale of an eight-bedroom ultra-luxury mansion in Faya Al Saadiyat — an exclusive beachfront community located on one of the last remaining villa plots on Saadiyat Island — for Dh400 million, making it the most valued home ever sold in Abu Dhabi. The sale reflects the sustained growth of Abu Dhabi's luxury real estate market, driven by strong demand from high-net-worth individuals (HNWIs), long-term residents, and international investors. It follows the Dh137 million sale of Aldar's Nobu Residences Abu Dhabi penthouse on Saadiyat Island. With Abu Dhabi's population surpassing four million, Saadiyat Island has established itself as the most sought-after destination in the emirate. In H1 2025, Aldar recorded Dh5 billion in sales on Saadiyat Island, reflecting exceptional interest from local and international buyers Expatriates accounted for 86 per cent of buyers, including 46 per cent residents and 40 per cent non-residents, with the top nationalities comprising Russia, France, United Kingdom, China and United States. Located directly on Saadiyat Island's beach and within the Saadiyat Beach Golf Club, the Faya Al Saadiyat mansion offers the largest allocation of space on the island, spanning 6,561 square metres. Jonathan Emery, chief executive officer at Aldar Development, said: 'This record transaction at Faya Al Saadiyat sets a new benchmark for luxury real estate in Abu Dhabi and underscores the strong demand for ultra-premium, beachfront homes in the emirate. Recognised as the crown jewel of Abu Dhabi's luxury real estate, Saadiyat Island continues to attract homebuyers and investors from around the world. This sustained momentum reflects the success of Abu Dhabi's long-term vision, enabled by progressive government policies, long-term residency initiatives, and strategic investment in infrastructure, culture, and entertainment.' Ghazi Saeed Al Ateibi, executive director real estate transactions sector at ADREC, said: 'Abu Dhabi is recognised as a world leading destination for global real estate investments, driven by growing trust in a market that is well-regulated, transparent, and investor-friendly. At ADREC, our role is to safeguard this ecosystem by upholding strong governance, regulatory oversight, and seamless processes across the sector. Transactions of this scale reflect the strength of a maturing market and the effectiveness of a regulatory framework we've put in place designed to support and attract responsible, high-value investment.' Behind the striking contemporary façade, the mansion features a host of amenities, including a private car gallery, a golf simulator, an in-house cinema, along with wellness and fitness suites, alongside direct access to one of the UAE's most desirable beaches. Faya Al Saadiyat is designed by 1508 London Interior Design Studio — renowned for crafting the interiors of The OWO Residences by Raffles, part of the iconic transformation of London's historic Old War Office — and Nordic Office Architects, a homegrown design studio known for reshaping regional skylines with globally informed design. The design draws inspiration from Saadiyat Island's natural beauty and distinctive wildlife, combining indigenous materials with minimalist aesthetics and expansive open-plan layouts. The mansion features Italian-made kitchens and wardrobes, bespoke joinery, and state-of-the-art appliances. Outdoors, a private beachfront pool anchors expansive living and recreational areas, framing views of the surrounding golf course and the shores of Saadiyat Beach. Faya Al Saadiyat is an exclusive luxury gated community of 21 super-luxury homes, including two eight-bedroom mansions and 19 six- to seven- bedroom villas, scheduled for completion in 2028. Residents enjoy seamless access to Saadiyat Cultural District, home to world-renowned institutions such as the Louvre Abu Dhabi, teamLab Phenomena, and the upcoming Guggenheim Abu Dhabi, as well as a curated mix of premium hospitality, retail, and dining offerings, including the highly anticipated Saadiyat Grove. The development is targeting the Estidama 3 Pearl rating and Fitwel certification, with sustainability embedded across the masterplan through features that promote energy efficiency, water conservation, reduced carbon emissions, and enhanced resident well-being.
Khaleej Times
5 days ago
- Business
- Khaleej Times
UAE: Dh5 million fine imposed on firm for violating money laundering, terrorism financing laws
The Securities and Commodities Authority (SCA) has imposed a record fine of Dh5 million on a licenced company and referred the matter to the Public Prosecution, in a decisive move to safeguard market integrity and enforce regulatory compliance. The action follows confirmed violations of anti-money laundering (AML) laws, counter-terrorism financing regulations, and measures related to the funding of illicit organisations. An in-depth investigation revealed that the entity in question, in collaboration with an overseas company, engaged in deceptive practices targeting investors within the UAE by falsely suggesting that the foreign company was licensed by the Authority, with the intent of misappropriating client funds. The referral of the case to the competent judicial authorities underscores the Authority's unwavering commitment to transparency and to upholding the highest standards of regulatory compliance. By escalating the case to judicial authorities, the SCA reaffirmed its commitment to transparency, deterrence, and regulatory compliance, in line with international best practices. The SCA reiterated its strategic focus on proactive oversight, risk-based supervision, and strict compliance enforcement, all of which support the UAE's positioning as a trusted and competitive global financial hub.
Al Etihad
5 days ago
- Business
- Al Etihad
SCA refers licensed company to Public Prosecution, imposes fine of Dh5 million for misleading clients
24 July 2025 20:11 ABU DHABI (WAM)The Securities and Commodities Authority (SCA) has imposed a record fine of Dh5 million on a licensed company and referred the matter to the Public Prosecution, in a decisive move to safeguard market integrity and enforce regulatory action follows confirmed violations of anti-money laundering (AML) laws, counter-terrorism financing regulations, and measures related to the funding of illicit in-depth investigation revealed that the entity in question, in collaboration with an overseas company, engaged in deceptive practices targeting investors within the UAE by falsely suggesting that the foreign company was licensed by the Authority, with the intent of misappropriating client referral of the case to the competent judicial authorities underscores the Authority's unwavering commitment to transparency and to upholding the highest standards of regulatory escalating the case to judicial authorities, the SCA reaffirmed its commitment to transparency, deterrence, and regulatory compliance, in line with international best practices. The SCA reiterated its strategic focus on proactive oversight, risk-based supervision, and strict compliance enforcement, all of which support the UAE's positioning as a trusted and competitive global financial hub.
