A video showing His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, visiting a fruits and vegetables market has gone viral on social media.

The video shows Sheikh Mohammed visiting The Fresh Market in Ras Al Khor. Workers and customers are seen surprised to find the Dubai Ruler in their midst.

 

 
The video surfaced as the UAE Cabinet chaired by Sheikh Mohammed approved a national system for sustainable agriculture. The system seeks to increase self-sufficiency from targeted agricultural crops to 5 per cent annually and average farm income to 10 per cent. Socially, the system aims to raise workforce in the sector by 5 per cent. Environmentally, it targets a 15 per cent annual reduction in water used for irrigation of a production unit.

The Dubai Ruler is known for his surprise visits around Dubai. Last week, he visited the DMCC Coffee Centre and a fish farm in Jebel Ali. Earlier this month, he visited a hotel in Jumeirah.

The tourism industry is a vital component of the Gulf Cooperation Council (GCC) countries’ economies. As climate change poses increasing threats, the adoption of smart tourism practices can play a crucial role in mitigating these effects and promoting sustainable tourism development. Here’s how GCC countries can leverage smart tourism to manage climate change impacts and ensure a resilient tourism sector.

Understanding Smart Tourism

Smart tourism utilizes digital technologies and innovative solutions to enhance tourist experiences, improve resource management, and foster sustainability. By integrating information and communication technology (ICT), big data, and the Internet of Things (IoT), smart tourism aims to create more efficient, enjoyable, and environmentally friendly travel experiences.

Addressing Climate Change Through Smart Tourism

1. Energy Efficiency and Renewable Energy:
   • Smart Grids and Energy Management Systems: Implementing smart grids and energy management systems in hotels, resorts, and tourist attractions can optimize energy use and reduce carbon emissions. Renewable energy sources, such as solar and wind power, can be harnessed to decrease reliance on fossil fuels.
   • Green Building Standards: Encouraging the construction of eco-friendly buildings using sustainable materials and energy-efficient designs can significantly lower the carbon footprint of tourism infrastructure.
2. Water Conservation:
   • Smart Irrigation Systems: Utilizing smart irrigation systems in landscapes and gardens of tourist sites can minimize water wastage by adjusting water use based on weather conditions and soil moisture levels.
   • Water Recycling Technologies: Implementing greywater recycling systems and water-efficient fixtures in hotels and resorts can conserve water and reduce demand on freshwater resources.
3. Waste Management:
   • Smart Waste Collection and Recycling: Smart waste collection systems equipped with sensors can optimize waste collection routes, reducing fuel consumption and emissions. Promoting recycling and waste separation in tourist areas can help manage waste more effectively.
   • Plastic Reduction Initiatives: Encouraging the use of biodegradable or reusable alternatives to single-use plastics can significantly reduce plastic waste in tourist destinations.
4. Sustainable Transportation:
   • Electric and Hybrid Vehicles: Promoting the use of electric and hybrid vehicles for transportation within tourist destinations can reduce greenhouse gas emissions and air pollution.
   • Smart Mobility Solutions: Implementing smart mobility solutions, such as bike-sharing programs, electric scooters, and efficient public transportation systems, can enhance connectivity while minimizing environmental impact.
5. Climate-Resilient Infrastructure:
   • Building Climate-Resilient Structures: Constructing tourism infrastructure that can withstand extreme weather events and rising sea levels can protect investments and ensure the safety of tourists.
   • Early Warning Systems: Developing early warning systems for natural disasters, such as floods and heatwaves, can enhance preparedness and response, safeguarding both tourists and residents.
6. Promoting Sustainable Practices:
   • Educational Campaigns: Educating tourists about sustainable practices and the importance of minimizing their environmental impact can foster responsible tourism.
   • Green Certifications and Incentives: Encouraging tourism businesses to obtain green certifications and offering incentives for sustainable practices can drive widespread adoption of eco-friendly measures.

Benefits of Smart Tourism in GCC Countries

1. Economic Resilience:
   • By adopting smart tourism practices, GCC countries can enhance the resilience of their tourism sector against climate change impacts, ensuring long-term economic stability and growth.
2. Environmental Sustainability:
   • Smart tourism promotes the conservation of natural resources, reduces carbon emissions, and minimizes waste, contributing to environmental sustainability and the preservation of biodiversity.
3. Enhanced Tourist Experience:
   • The integration of advanced technologies in tourism services can improve the overall tourist experience, offering convenience, personalized services, and seamless connectivity.
4. Global Leadership:
   • By leading the way in smart tourism, GCC countries can position themselves as global leaders in sustainable tourism, attracting environmentally conscious travelers and setting benchmarks for other regions to follow.

Conclusion

The GCC countries have a unique opportunity to leverage smart tourism as a powerful tool to combat the effects of climate change and promote sustainable tourism development. By embracing innovative technologies and sustainable practices, the tourism industry in the GCC can thrive while protecting the environment and ensuring a resilient future.

Implementing smart tourism is not just an investment in technology; it’s an investment in a sustainable, prosperous future for the GCC’s tourism industry.

Dubai’s real estate market has shown remarkable resilience and growth across all sectors in 2023, solidifying its status as a preferred safe haven amidst global economic and geopolitical uncertainties. The emirate’s robust economic and demographic indicators further highlight this upward trend.

Key Economic and Demographic Highlights

As of June 2023, Dubai’s population exceeded 3.6 million, marking a 1.4% increase compared to the previous year. Tourist arrivals also surged by 19.9% from January to November 2023, reaching a total of 15.4 million tourists. Dubai’s GDP for the first half of 2023 grew by 3.2%, totaling AED 223.8 billion. The transport and storage sector, in particular, experienced a significant expansion of 10.5% during this period.

Hospitality Sector

Dubai’s hospitality market continued its strong recovery in 2023, with key performance indicators surpassing pre-pandemic levels. The average occupancy rate for FY 2023 was 77%, up from 72% in 2022. Additionally, the average daily rate (ADR) increased by 0.2% year-over-year to AED 692, outpacing most regional and international markets. This growth reflects Dubai’s appeal as a premier travel destination.

Residential Market

The residential sector maintained its upward trajectory in 2023, with transaction levels reaching unprecedented highs. Sales prices and rents increased by 18% and 26% year-over-year, respectively. Villa prices outpaced apartment prices, while rent growth aligned with pre-pandemic levels. Although this growth is expected to stabilize as new supply enters the market in 2024, the residential sector remains strong.

 

 

Retail Sector

Despite the global rise in online shopping, malls continue to dominate Dubai’s retail landscape. This is largely due to the preference of tourists for retail and leisure destinations. The outlook for Dubai’s retail sector remains positive, with retail sales projected to grow by 6% between 2025 and 2027.

Office Market

Office rents in Dubai have exceeded pre-pandemic levels, registering a 15% year-to-date increase in September 2023 compared to the same period last year. Economic growth forecasts and initiatives to ease business operations are expected to support the office market’s performance going forward.

Industrial and Logistics Sector

The industrial and logistics sector in Dubai also showed strong performance, with warehouse rents rising year-over-year due to high demand from industries such as manufacturing, third-party logistics (3PL), and e-commerce. The transport and storage sector’s notable expansion during the first half of 2023 underscores the growth potential in this area.

Conclusion

Dubai’s real estate market in 2023 has demonstrated robust performance across all sectors, driven by favorable economic conditions and strategic initiatives. With continued growth in population, tourism, and various industries, Dubai remains a prime destination for investors and businesses alike.

By staying updated with these trends and leveraging the opportunities they present, stakeholders in Dubai’s real estate market can look forward to sustained growth and success in the coming years.

 

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(Source: Deloitte’s 10th annual Real Estate Predictions report)

The UAE’s Golden Visa program has become more accessible and beneficial than ever with its latest updates in 2024. These changes are set to significantly boost Dubai’s real estate market, offering unprecedented opportunities for investors worldwide. At Accord Real Estate, we are excited to guide you through these new developments and help you capitalize on this golden opportunity.

Lower Investment Thresholds

One of the most significant updates to the Golden Visa program is the removal of the Dh1 million ($272,294) minimum down payment requirement for obtaining a visa through real estate investment. This change is designed to encourage more residents and investors to settle in the country for extended periods.

Previously, investors needed to buy property valued at Dh2 million or more to qualify for the 10-year renewable residency program introduced in 2019. If the property was purchased through a mortgage or installment plan, a minimum of Dh1 million or half the property’s value had to be paid upfront to be eligible for the Golden Visa.

Now, there’s no need for any minimum payment. As long as the property is worth Dh2 million or more, whether it’s off-plan, completed, bought with a mortgage, or without one, you can qualify for the Golden Visa.

Flexible Investment Options

The new rules provide investors with more flexibility in meeting the investment requirements. Now, different types of real estate investments can be combined to meet the AED 2 million ($545,000) property ownership threshold. This flexibility makes it easier for investors to diversify their portfolios and achieve their financial goals.

Enhanced Family Benefits

The updated rules extend more benefits to family members, allowing investors to sponsor their spouses, children, and even parents with greater ease. This makes the Golden Visa an attractive option for those looking to relocate their entire family to Dubai, offering a stable and secure environment with world-class infrastructure, healthcare, and education.

Easier Application Process

The application process for the Golden Visa is now simpler and faster. With streamlined requirements and quicker processing times, investors can secure their residency without unnecessary delays.

Why Invest in Dubai Real Estate?

Dubai’s real estate market is renowned for its high rental yields, tax-free income, and excellent infrastructure. Here are some key reasons why investing in Dubai real estate is a smart choice:

• High Rental Yields: Dubai offers some of the highest rental yields globally, making it a profitable market for property investors.
• Tax-Free Income: There are no property taxes or rental income taxes, enhancing the appeal for investors.
• World-Class Infrastructure: Dubai boasts excellent transport links, top-tier healthcare, and education facilities.
• Strategic Location: As a global hub, Dubai’s strategic location connects the East and West, making it ideal for business and travel.
• Lifestyle and Safety: Dubai is known for its luxurious lifestyle and high safety standards, providing an exceptional quality of life for residents.

How Accord Real Estate Can Help

Navigating the Dubai real estate market and the Golden Visa application process can be complex, but Accord Real Estate is here to assist you every step of the way.

Expert Guidance

Our team offers expert guidance on the best investment opportunities in Dubai’s real estate market. With deep market insights and an understanding of the latest trends, we help you make informed decisions that align with your financial goals.

Streamlined Application Process

Our experienced professionals handle all the necessary paperwork, ensuring your Golden Visa application is complete and submitted smoothly. We simplify the process so you can focus on your investments.

Conclusion

The new Dubai Golden Visa rules of 2024 present a remarkable opportunity for real estate investors. With lower investment thresholds, flexible options, and enhanced benefits, the program is more attractive than ever. Partnering with Accord Real Estate ensures you navigate this exciting opportunity with confidence and ease. Whether you’re a seasoned investor or new to the market, we are here to help you every step of the way.

Don’t miss out on this golden opportunity – contact Accord Real Estate today and take the first step towards securing your future in Dubai’s thriving real estate market.

Dubai’s residential market continues to sizzle, with capital values rising at accelerated rates, according to ValuStrat’s latest figures. The city’s property market is experiencing a remarkable surge, making it an exciting time for investors and homebuyers alike. Here’s a snapshot of the key insights from May:

Stellar Market Performance

In May, the ValuStrat Price Index (VPI) climbed by 2.1%, reaching 174.4 points—an impressive 27.2% growth compared to last year. This robust performance highlights Dubai’s dynamic and resilient property market, setting the stage for significant investment opportunities.

Villas Lead the Surge

Villas are at the forefront of this upward trend:

• Monthly increase: 2.4%
• Annual increase: 32.5%
• VPI: 221.2 points

Several villa communities have regained or even surpassed their pre-COVID peak prices from 2014. This resurgence underscores the strong demand and high value placed on villa properties in Dubai.

Apartments Keep Pace

Apartments are also showing substantial growth:

• Monthly increase: 1.8%
• Annual increase: 22.4%
• VPI: 144 points

Palm Jumeirah has become a standout, being the first apartment region to reach and exceed its 2014 peak prices. Discovery Gardens tops the charts with a staggering 34% annual growth in apartment capital gains, showcasing the diverse potential within Dubai’s apartment market.

Prime Investment Opportunities

Palm Jumeirah’s beachfront apartments are reaching unprecedented values, marking them as prime investment opportunities. However, entering this high-end market requires careful planning and thorough research to maximize returns.

Discovery Gardens: A Hidden Gem

Discovery Gardens has seen a remarkable 34% growth in apartment capital gains, highlighting its appeal and potential for substantial returns. This community’s performance exemplifies the broad spectrum of opportunities available across various Dubai neighborhoods.

Navigating the Market

Whether you’re an investor looking to capitalize on market trends or a homebuyer searching for your dream property, research and expert guidance are essential. Here are some steps to ensure you make informed decisions:

• Understand Your Budget: Know how much you can afford to invest or spend on a property.
• Define Your Goals: Clarify whether you’re looking for rental income, long-term capital gains, or a personal residence.
• Research the Market: Study different communities and property types to find the best fit for your needs.
• Seek Expert Advice: Consult with real estate professionals who have deep market insights and can guide you through the process.

Conclusion

Dubai’s property market is hotter than ever, presenting lucrative opportunities for investors and homebuyers. With villas and apartments both showing strong growth, there’s something for everyone in this vibrant market. By understanding your goals and seeking expert guidance, you can find the perfect property that aligns with your aspirations and secures your financial future.

Don’t miss out on this red-hot market—now is the time to invest in Dubai’s booming real estate!