Latest news with #Dhs3.5
Gulf Today
3 days ago
- Business
- Gulf Today
Central Bank imposes Dhs3.5m fine on exchange house in UAE
The Central Bank of the UAE (CBUAE) imposed a financial sanction on an exchange house, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The financial sanction of Dhs3,500,000 (Dhs3.5 million) has been imposed after assessing the findings of an examination conducted by the CBUAE, which revealed that the exchange house failed to comply with AML/CFT policies and procedures. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system. WAM
Hi Dubai
3 days ago
- Business
- Hi Dubai
Dubai Duty Free Posts Record-Breaking Dhs724.7 Million in May Sales
Dubai Duty Free recorded a strong performance in May 2025, reporting sales of Dhs724.7 million (US$198.5 million) — the highest monthly figure so far this year and a 12.5% increase over May 2024. The figures mark May 2025 as the second-highest sales month ever outside the peak December period, trailing only behind November 2024. Year-to-date revenue has now surpassed Dhs3.5 billion (US$1 billion), reflecting a 6.5% growth compared to the same period last year. Managing Director Ramesh Cidambi attributed the robust performance to consistent category-wide growth and the dedication of the retail team. According to internal estimates, May sales outpaced passenger traffic growth by 7–8%, with daily averages hitting Dhs23.3 million (US$6.38 million). Customer engagement metrics also improved significantly. Penetration rose to 28% from 26.3% in May 2024, and average spend per departing passenger climbed to US$46.7, up US$3 year-on-year. Confectionery led product category gains with an 81% surge in sales, totaling Dhs73.9 million (US$20.2 million), largely driven by the popularity of 'Dubai chocolate.' Perfumes posted a 15% increase to Dhs132.8 million, while cosmetics rose 10.8%. Sales of cigarettes and tobacco, gold, precious jewellery, liquor, electronics, and fashion also saw notable year-on-year growth. Sales by location showed strong gains, with Concourse B in Terminal 3 leading at 17.5% growth. Terminal 2 Departures posted the highest percentage increase at 20.8%, while refurbished Arrivals shops saw a 6.25% uptick. Regionally, all key passenger markets contributed positively, with Europe up 25.9%, and the Middle East and Russian region each posting 14% increases. News Source: Dubai Media Office
Time Out Abu Dhabi
4 days ago
- Lifestyle
- Time Out Abu Dhabi
Abu Dhabi's new island will include a 10km fitness track, a beach club and a five-star resort
Abu Dhabi's newest island is coming and it's no regular island. Fahid Island, located between Yas Island and Saadiyat Island, has now been formally introduced to the public and we have one word: wow. Set to open in 2029, when phase one of the project is set to be complete, it will include amenities like a 10km running and cycling track, a beach club, a five-star resort and a pedestrian shopping street. Fahid Island has been designed with wellness in mind, with plenty of footpaths connecting all corners of its 2.7 million sqm, designed to get residents and visitors' steps up. While some amenities will be reserved for residents, the general public will be able to access its Berm Park, a 10km wellness and fitness corridor with running tracks and three cycling routes, as well as the 4.6km of beaches and a beach club. Then there's Coral Drive, Abu Dhabi's answer to LA's Rodeo Drive – a shopping destination meant to be walked, not driven through. No shops have been announced yet but we're expecting a high-low mix of big names. The island was also designed to maximise the time Abu Dhabians can spend outdoors throughout the year. To make sure your walks along the island aren't insufferable once the heat kicks in, they're making sure there's enough shade everywhere (from trees but also fabricated shade) and drinking water fountains throughout. Plus, the materials used for the floors will absorb less heat, a move pets will certainly welcome. In fact, Fahid Island is the world's first Fitwel-certified island, a certification that looks at how communities are built to promote and build health. As a self-contained island, Fahid will also have a prestigious British school joining the grounds (which is yet to be announced), a mosque, a waterside fitness centre and a promenade for drinks and bites with sea views. Want to move in? Join the club. The first phase of the project, the Fahid Beach Residences, will be made up of seven mid-rise buildings, with 65 apartments each. They start at Dhs3.5 million for a one-bedroom apartment and will go on sale soon, although an exact date is yet to be announced. Considering how quickly the Abu Dhabi market has been moving, we wouldn't be surprised if this one sells out in a day as well… More Abu Dhabi real estate These are the most popular places to buy and rent in Abu Dhabi right now No gatekeeping round here Modon's Muheira towers on Reem Island sell out on launch day This is pretty cool A new village in Abu Dhabi completely sold out in 24 hours A little slice of Tuscany right in the capital
Gulf Today
15-03-2025
- Business
- Gulf Today
Sharjah real estate transactions hit Dhs3.5 billion in February
The monthly statistical data issued by the Sharjah Real Estate Registration Department revealed that the volume of real estate transactions across various regions and cities in Sharjah amounted to Dhs3.5 billion during February 2025, with a total of 7,768 transactions. The total area traded in sales transactions reached 11.8 million square feet. The data indicated that 7,768 real estate transactions were executed, with sales transactions accounting for 1,348 transactions, representing 17.4 per cent of the total. Mortgage transactions reached 424 valued at Dhs711.6 million, constituting 5.5 per cent of the total. Meanwhile, initial sales contract transactions recorded 941 transactions (12.1 per cent), while ownership certificate transactions amounted to 3,958 (50.9 per cent). Additionally, title deed transactions totalled 1,097, making up 14.1 percent of all transactions. Sales transactions were conducted across 116 areas in various cities and regions of the emirate. These transactions covered various properties, including residential, commercial, industrial, and agricultural lands, reflecting the variety of investment opportunities available across Sharjah. According to the data, transactions included 723 vacant land plots, 373 subdivided units, and 252 built-up land transactions, showcasing the diversity and spread of investment opportunities throughout the emirate. WAM
