Latest news with #WetheUAE2031
Gulf Today
a day ago
- Business
- Gulf Today
Family businesses vital driver of national economic growth: Marri
The UAE continues to adopt a forward-looking vision to enhance the regulatory and legislative frameworks governing family businesses in the country. This vision aims to foster sustainable growth, ensure long-term viability, and strengthen the sector's contribution to national economic competitiveness both regionally and globally. The Ministry of Economy and Tourism played a key role in issuing the world's first comprehensive and pioneering legislation dedicated to family businesses: Federal Decree by Law No. (37) of 2022 concerning the Family Businesses. The law aims to ensure business continuity through legal mechanisms and structured procedures, support diversification of business activities, ease generational transition, and encourage expansion into advanced sectors, particularly the new economy. The Ministry has also issued four ministerial resolutions under which a unified registry for family companies was established. This registry currently includes more than 15 registered family firms. It also governs family business charters, share buy-back mechanisms, and the issuance of multiple classes of shares. In statements to the Emirates News Agency (WAM), Abdullah Bin Touq Al Marri, Minister of Economy and Tourism, emphasised that the UAE, guided by its wise leadership, has prioritised the creation of an advanced legislative environment to promote the growth and sustainability of family businesses over the coming decades. He highlighted that family businesses are a vital driver of national economic growth and a pillar of the UAE's long-term vision to build a future-ready economy. He reaffirmed the Ministry's commitment to advancing this vital sector through continued efforts and active collaboration with stakeholders. These efforts align with the 'We the UAE 2031' vision, aiming to increase the country's GDP to Dhs3 trillion by the next businesses contribute approximately 60% of the UAE's GDP and employ 80% of the workforce. They also account for around 90% of private sector companies in the country. These businesses operate across a wide range of vital economic sectors, including the new economy, hospitality, retail, real estate, and construction. Family firms play a crucial role in diversifying the national economy. In Abu Dhabi alone, they represent 50% of the companies in the construction sector, 60% in financial services, 80% in wholesale and trade, and 70% in transportation. Globally, family businesses contribute around 70% of global GDP, making them responsible for more than two-thirds of global economic activity. They are also the largest employer worldwide, providing jobs to nearly 60% of the global workforce. Dubai's real estate brokerage sector recorded a remarkable performance in the first half of this year, reaffirming the pivotal role of brokers in driving market dynamism and supporting sustainable growth in property transactions. Real estate brokers contributed to the execution of 42,181 transactions, generating commission values exceeding Dhs3.23 billion in H1 2025, compared to Dhs1.62 billion in the same period in 2024, achieving a growth of 99% This increase in transaction volume is closely tied to the growing number of real estate brokers registered with the Dubai Land Department, which now stands at 29,577 brokers, including 6,714 new brokers who entered the sector in the first half of 2025. This momentum reflects the growing confidence in the profession and its rising role as a key partner in enhancing the attractiveness of real estate investment and guiding investors towards high-potential opportunities. Female participation in the real estate brokerage sector has increased significantly, with 10,100 women now actively working as brokers in the field. They contributed to the execution of 13,424 transactions, generating commission values of nearly Dhs1.43 billion. This reflects the growing influence of women in leading real estate deals, their ability to build strong professional relationships, and their impact on the market's overall dynamism. The role of real estate brokers extended beyond facilitating transactions; they served as a vital link between investors, developers, and buyers, contributing to enhanced transparency and enabling more informed decision-making. Brokerage and property valuation firms also played a key role in supporting market demand by providing integrated services. As of the first half of 2025, there were 1,223 registered brokerage offices and 78 property valuation offices employing 118 licensed valuers. On their part, the 2,426 registered real estate services offices continued to play a pivotal role in the sector. During the first half of the year, Real Estate Registrations and Services Trustees Offices facilitated 114,848 transactions, serving 86,398 customers, marking a 15% increase in the number of customers compared to the same period last year. The outstanding performance of the brokerage and valuation sector is one of the key pillars of Dubai's real estate market, reflecting the emirate's vision of fostering an investment environment built on public-private partnerships. By facilitating transactions and deals, professional brokers continue to reinforce investor confidence and contribute to enhancing Dubai's position as a leading global real estate investment destination.
Al Etihad
6 days ago
- Business
- Al Etihad
AI-powered governance positions UAE as global leader in digital transformation
24 July 2025 00:15 MAYS IBRAHIM (ABU DHABI)As the UAE accelerates its adoption of artificial intelligence, citizens and residents are poised to benefit from forward-looking, people-centric policies and services, positioning the nation as a global model for digital innovation, experts say. Earlier this month, the UAE Government launched a new federal strategic planning cycle as part of its ambitious 'We the UAE 2031' vision, marking a shift toward a more agile, AI-powered, and resource-optimised approach to governance. This new framework shortens the government's strategy cycle to a three-year timeframe, aiming to deliver faster, smarter, and more impactful public services. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, directed all ministries and federal government bodies to develop strategies rooted in innovation, flexibility, and advanced technology to ensure the goals outlined in 'We the UAE 2031' are achieved with greater speed and efficiency. The UAE's holistic strategy - balancing foresight with innovation, regulation, and collaboration - provides a valuable blueprint for other countries to accelerate digital transformation, Jad Haddad, Partner and the Global Head of Quotient – AI by Oliver Wyman, told Aletihad . Haddad leads regional advisory work on public sector transformation and AI strategy and has supported national-level clients across the GCC on planning models, data-driven governance, and workforce modernisation. 'The UAE's approach to data-driven governance stands out for its strong leadership commitment, integrated data infrastructure, and balanced regulatory framework emphasising ethics and privacy,' he said. 'By fostering public-private partnerships and focusing on citizen-centric services, the UAE accelerates AI adoption while ensuring tangible benefits for residents.'AI is positioned as a core pillar of governance under the new planning cycle. According to Haddad, this will transform federal services by enabling data-driven decision-making, personalised public experiences, and enhanced inter-agency collaboration. 'AI and predictive models enable the UAE to optimise government spending and human capital by forecasting budget needs, preventing inefficiencies, and automating routine tasks,' he added.'This enhances workforce planning, talent matching, and performance monitoring, driving resource efficiency and supporting sustainable, agile, and citizen-focused governance.'Haddad also pointed out that agile governance at the federal level prioritises citizen engagement, adaptive regulations, and rapid responsiveness, ultimately 'transforming the government into a flexible, efficient system that delivers timely, inclusive solutions nationwide'. Upskilling for the Future Lisa Lyons, Regional Transformation Centre of Excellence Lead, Mercer – IMEA, noted that success depends on how effectively the UAE nurtures and deploys future-ready skills. 'Equipping talent with AI skills is the linchpin in transforming ambition into sustainable leadership,' she told Aletihad . Lyons pointed to the recent partnership between the Dubai Government Human Resources Department (DGHR) and Dubai AI Campus to train over 10,000 individuals in the field of AI by 2030 as a strong example of the UAE's commitment to prioritising AI skills Abu Dhabi Government Digital Strategy 2025-2027, led by the Department of Government Enablement, includes an AI for All initiative designed to empower citizens with AI capabilities. Backed by a Dh13 billion investment, the strategy aims to build a fully AI-native government by digitising services, automating operations, and deploying over 200 AI solutions across federal entities. 'The biggest opportunity is for organisations to invest in the development of critical AI skills to enhance long-term productivity and differentiate the organisational employee value proposition when bidding for talent. Investing in critical AI skills is how we turn AI from a tool into a true catalyst for growth,' Lyons said. The UAE's focus on AI is fostering a culture of continuous learning and workforce transformation within the public sector, said Saqr AlMaazmi, Head of Government and Public Sector Consulting, Mercer UAE. 'As government employees upskill to work alongside advanced technologies, the delivery of services will become more proactive and people-focused. This strategic push not only enhances efficiency and innovation but further positions the UAE as a leader in smart governance and digital transformation,' he told Aletihad .
Time Business News
6 days ago
- Business
- Time Business News
Beyond Cost: A 5-Step Framework for Risk-Proofing Your Custom Software Project in Dubai
In Dubai's fiercely competitive digital economy, custom software is a strategic imperative — not merely a line item in the IT budget. With enterprise software spend projected to nearly double from USD 3.7 billion in 2024 to USD 7.5 billion by 2030 (13.3% CAGR)1, executives must guard against project overruns, compliance failures, and vendor misalignment. This 5-step framework, grounded in Dubai's Vision 2031 digital mandate and the UAE's PDPL, equips C-suite and IT leaders to de-risk every phase of their custom software journey. 1. Align with Vision 2031 and Digital-By-Design Principles Dubai's 'We the UAE 2031' agenda emphasizes smart government services, AI, and data-driven innovation. Define strategic objectives: Map your software KPIs to national goals—eGovernment transactions, 100% digital service adoption, or AI-enabled citizen insights. Embed 'digital-by-design': Architect modular, API-first solutions that support emerging AI, IoT, and blockchain pilots under Dubai's June 2022 digital mandate. 2. Establish a PDPL-Compliant Data Foundation The UAE's Personal Data Protection Law (PDPL) enforces privacy-by-design for all personal data processing. Perform Data Mapping and DPIAs: Catalog data flows across modules; conduct Data Protection Impact Assessments for high-risk features. Implement Core Controls: End-to-end encryption, multi-factor authentication, role-based access, and breach-response workflows with 72-hour notification. Embed Consent & Rights Management: Build UX flows to capture explicit consent and fulfill 'access, correction, erasure' requests within 30 days. 3. Vet Vendors with a 7-Point RFP Scorecard Selecting the right custom software development company in Dubai is pivotal. Use this weighted criteria: Domain Expertise (fintech, healthcare, logistics) Technical Stack Proficiency ( Flutter, AI/ML) Regulatory Track Record (ISO 27001, PDPL/SAMA audits) Proven Case Studies (quantified ROI, time-to-market gains) Cultural Fit (Arizona overlap hours, Arabic/English fluency) Transparent TCO & SLAs (99.9% uptime, 15-min critical-ticket response) Scalability & Exit SLAs (IP escrow, knowledge-transfer guarantees) 4. Pilot with Phased Risk Controls Avoid 'big-bang' rollouts. Implement an iterative pilot for one high-value module: Phase 1 (Weeks 1–4): Sandbox MVP with end-user testing and security scans. Phase 2 (Weeks 5–12): Expand to 2–3 business units; monitor performance metrics (latency, error rates) and compliance logs. Phase 3 (Months 4–6): Full UAT and stakeholder sign-off, ensuring each sprint delivers measurable business value. 5. Institutionalize Continuous Governance Sustain momentum through robust governance: Quarterly Audits: Reassess technical debt, vulnerability scans, and consent-management effectiveness. KPI Dashboard: Track Burn-Down Rate, Mean Time to Repair (MTTR), and PDPL-compliance incidents. Executive Steering Committee: A cross-functional board reviews vendor performance, budget variances, and roadmap realignment. By weaving Dubai's digital-transformation vision and the UAE PDPL into your project planning, and by rigorously vetting partners, piloting in controlled phases, and governing continuously, you can transform custom software from a cost center into a competitive advantage. TIME BUSINESS NEWS
Mid East Info
22-07-2025
- Business
- Mid East Info
Ajman University Launches Masar Career Excellence A First-of-Its-Kind Model in UAE Higher Education - Middle East Business News and Information
Ajman University has launched Masar Career Excellence, a pioneering model that redefines how universities in the UAE prepare students for the future of work. As the first framework of its kind in the country's higher education sector, Masar goes beyond the scope of a traditional career services office. It offers an integrated, future-focused approach to student development, aligning academic experience with real-world readiness from day one through life after graduation. Rooted in the Arabic word مسار ( masar) , meaning the path , Masar Career Excellence is designed to accompany students and alumni through every stage of their academic and professional development. From early career orientation and skills training to long-term mentoring, employer engagement, and alumni networking, Masar offers a cohesive and holistic experience that empowers students to align their aspirations with real-world opportunities. Commenting on this innovative initiative, Dr. Karim Seghir, Chancellor of Ajman University, stated: ' Masar embodies Ajman University's belief that preparing students for the future requires more than academic excellence. It calls for an environment where purpose, reflection, and real-world engagement are embedded into the educational experience. Through this model, we aim to graduate individuals who are not only capable professionals, but also thoughtful leaders with a deep sense of responsibility to society.' The introduction of Masar marks a major milestone in Ajman University's broader strategy to embed career development into the heart of the educational experience. This commitment has earned the university global recognition. According to the QS World University Rankings 2026, Ajman University is ranked #3 in the UAE for employer reputation, a reflection of the institution's sustained focus on producing career-ready graduates. Masar is aligned with We the UAE 2031 and Ajman Vision 2030, both of which emphasize the development of national talent, the advancement of a knowledge-based economy, and the empowerment of youth to lead transformative change across sectors. By strengthening the capabilities of graduates to adapt, innovate, and lead, Masar contributes to the nation's priorities for inclusive and sustainable development. Throughout the student lifecycle, Masar delivers tailored guidance from early exploration of interests and pathways, to mid-program industry placements, and career coaching as graduation nears. The model continues beyond graduation, offering alumni access to mentoring, professional growth opportunities, and lifelong engagement. A defining characteristic of Masar is its emphasis on meaningful connection. By fostering collaboration between students, faculty, alumni, and industry leaders, the framework offers real-world immersion through career fairs, live projects, consulting challenges, and expert panels. These experiences cultivate not only technical competencies but the relationship capital essential for leadership and long-term success. The launch of Masar Career Excellence reinforces Ajman University's position as a forward-thinking institution that places student success at the core of its mission. It reflects a strategic approach to higher education—one that empowers graduates to shape their futures with purpose and contribute meaningfully to a resilient, inclusive, and knowledge-driven society. About Ajman University: Established in 1988 as the first private university in the GCC, Ajman University AU is a non-profit institution committed to delivering world-class education and empowering future leaders. With a strong emphasis on academic excellence, global engagement, and societal impact, AU continues to shape a diverse and inclusive learning environment that nurtures innovation and integrity. Ajman University earned full accreditation from the WASC Senior College and University Commission WSCUC in 2024, becoming the first private and non-profit university in the UAE and the Arab world to achieve this prestigious distinction. In the 2026 QS World University Rankings, AU ranks #440 globally and #6 in the UAE, with a global ranking of #241 for Employer Reputation and #3 in the UAE. AU also holds the #1 position in the UAE and #4 globally for the percentage of international students. With a growing network of over 40,000 alumni across the world, AU continues to prepare graduates who are career-ready, globally aware, and committed to shaping a better future for their communities and beyond.
Gulf Today
19-07-2025
- Business
- Gulf Today
Pension body launches second phase of ‘Wafra' programme
The General Pension and Social Security Authority (GPSSA) has launched the second phase of the 'Advanced Proactive Financial Planning System' project, called 'Wafra'. Developed in partnership with the Emirati Talent Competitiveness Council through the NAFIS programme, 'Wafra' focuses on enhancing financial literacy among NAFIS beneficiaries who are covered by the UAE pension laws, empowering them to build a more secure financial future in the private sector. This initiative highlights GPSSA's commitment to nurturing national talent and improving the financial and social stability of UAE nationals. It is part of the third cycle of transformative projects for federal government entities for 2024-2025. It also embodies the leadership's commitment to adopting innovative, human-centric government models that enhance the UAE's global competitiveness. The project directly contributes to the UAE government's ambitious goals of cultivating a more prosperous society over the next decade, aligning seamlessly with the 'We the UAE 2031' vision. The programme equips Emiratis with essential financial knowledge through specialised training programmes and awareness campaigns available via the NAFIS digital platform. The platform ensures that a wide group of Emirati talent, including private and banking sector employees, jobseekers in the local market, and university students, can access its benefits. The second phase of the 'Wafra' programme focuses on core themes that address the needs of NAFIS beneficiaries. It aims to educate participants about GPSSA's laws and the benefits they offer, empowering them to make better retirement choices and plan for their future. The programme also provides guidance on investment options and effective wealth management strategies post-retirement, highlighting the importance of early financial planning to ensure a stable and secure future. Through the 'Wafra' project, GPSSA aims to raise financial planning awareness by 80 percent. GPSSA works in partnership with the Ministry of Human Resources and Emiratisation and the Emirati Talent Competitiveness Council, leveraging the NAFIS platform and various media channels. WAM
