Oct 16, 2023
What are Local Festivals?
Local festivals are remarkable social and cultural events organized in specific areas within particular countries. They take place at fixed times throughout the year and last for designated duration. These festivities encompass a diverse range of activities, including artistic performances, music, sports events, and many others. The importance of these festivals lies in promoting cultural heritage and preserving local traditions, as well as reflecting the unique identity of the hosting communities.
Examples of local festivals in Dubai:
Dubai's festival tourism is widely recognized as a prominent source of entertainment. With its diverse population embracing various cultures and nationalities, these events reflect this diversity and offer a rich cultural experience for both locals and visitors alike.
Among these famous festivals in Dubai:
● Dubai Shopping Festival: One of its prominent commercial festivals, lasting for almost a month. It includes discounts and offers in shopping malls and stores.
● Dubai Food Festival: It offers a variety of international and local cuisines; a selection of the city's best restaurants and chefs participate in this festival.
● Dubai Film Festival: It displays the latest international and Arabic films, and it hosts a variety of filmmakers and actors.
● Dubai Light Festival: Dubai transforms into a captivating artistic light display during this exhibition. Famous landmarks and buildings are illuminated with colorful and innovative light designs.
● Dubai Fireworks Festival: It presents numerous innovative fireworks displays at various locations across the city.
These examples are merely scratch of the surface of the local festivals in Dubai. Undoubtedly, numerous other diverse festivals are held in the city throughout the year.
The impact of local festivals on investment opportunities:
Local festivals have a significant impact on investment opportunities, and they support the local economy in various ways in Dubai. The following are some of the effects that can be achieved through festival culture:
● Promoting Business Partnerships: Festivals in Dubai provide significant opportunities for both local and global partnerships to promote products and services. Companies can benefit from these opportunities by expanding their customer base, enhancing business relationships, and establishing new strategic partnerships.
● Promoting Innovation and Creativity: Local festivals in Dubai encourage innovation and creativity in various fields, such as art and technology. Some festivals sometimes require the production of artistic works and new products; consequently, providing opportunities for investment in these fields.
● Boosting the Local Economy: Enhancing the economy is one of the most significant economic benefits of festivals. Festivals increase local revenue and stimulate the economy by boosting business volume and sales. They also enhance the local economy by increasing investment and trade in the hosting areas.
● Tourism Impact: Festivals play a significant role in tourism, serving as a favorable opportunity to attract tourists and visitors from all over the world. Various entertainment and cultural activities are organized within festivals, increasing visitor traffic in the festival-hosting area. This helps boost tourism revenue and enhance the local economy by increasing hotel bookings, flights, and more. Simultaneously, it motivates investment in infrastructure development to meet the visitors' needs.
● Cultural and Local Identity: These festivals contribute to defining and promoting Dubai's local heritage and culture, through presentations and events displaying and detailing the city's customs and traditions. Therefore, this cultural or local identity can be a key investment opportunity for investors or real estate buyers interested in investing in this area.
● Promoting Local Products and Industries: The distribution of local products and industries at these festivals creates a pleasant promotional platform that can lead to increased demand for these products, thereby encouraging investment in these products.
● Promoting Collaboration and Communication: Festivals create a common ground for local residents and visitors, fostering direct communication and collaboration between them. This, in turn, creates opportunities for both global and local investment and economic partnerships.
● Attracting Direct Investments: These festivals attract companies seeking to capitalize on the business opportunities available during these events, whether by launching new products or expanding their current business scope.
● Providing Partnership Opportunities: Partnerships established during festivals, whether international or local, facilitate the exchange of expertise and knowledge among participating companies, which promotes business relationships on both international and local levels.
● Boosting Employment: This aspect stands as one of the economic and social benefits of festivals, as it plays a significant role in reducing unemployment and providing job opportunities for the local workforce since organizing festivals requires a large number of skilled workers with diverse expertise. This contributes to creating additional employment opportunities within the festivals, as well as in the external associated sectors.
The impact of local festivals on infrastructure development:
Providing infrastructure for festivals is one of the key factors in their success. This opens up opportunities for investing in the infrastructure of the host areas to ensure the quality of transportation and public facilities, benefitting, as such, the local community as a whole.
Festivals play a crucial role in the process of infrastructure development in Dubai through several aspects, including:
● Attracting Investments: Festivals provide an opportunity to attract investments in various sectors, including infrastructure. Investments are directed towards improving the available infrastructure for visitors, tourists, and residents, such as renovating roads and bridges.
● Enhancing the Public Environment: These festivals can be seen as motivations that contribute to improving the overall environment in Dubai. The areas surrounding the festival, or the local event site, get prepared and significantly improved, including street cleaning, park renovation, improving lighting, and securing parking.
● Promoting Real Estate Development: Festivals inevitably influence real estate and property projects in Dubai. The increasing demand for areas around festivals encourages the construction of more residential complexes, commercial facilities, and entertainment sites in those regions, consequently prompting substantial investments.
In summary, local festivals play a crucial role in the development of infrastructure and expanding investment opportunities in Dubai, due to the positive returns mentioned on both levels. Being a city of notable civilization and technological advancement, with a diverse multinational population, Dubai’s atmosphere has facilitated the organization of various cultural and social events. Consequently, this has contributed to generating a unique identity for Dubai and its festivals.
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April 6, 2025
The UAE Ministry of Finance has introduced new corporate tax regulations under Cabinet Decision No. 35 of 2025, replacing the previous Cabinet Decision No. 56 of 2023.
These updates clarify when foreign (non-resident) investors in Qualifying Investment Funds (QIFs) and Real Estate Investment Trusts (REITs) are considered to have a taxable nexus in the UAE.
The changes aim to enhance the UAE’s investment appeal, reduce compliance burdens, and align with global tax standards. This guide covers everything investors need to know about the new UAE tax rules, including exemptions, deadlines, and key implications.
Tax Nexus for Non-Resident Investors in QIFs and REITs
Under the new rules, a foreign juridical investor will have a taxable presence in the UAE under specific conditions.
For Qualifying Investment Funds (QIFs)
If a QIF exceeds the 10% real estate asset threshold, a tax nexus arises on:
A tax nexus is triggered in the same tax period where the QIF fails to meet ownership diversity rules.
A non-resident investor in a REIT will have a taxable link if:
If a foreign investor only holds QIF/REIT shares and meets conditions, they will not be considered a taxable entity in the UAE.
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Alongside Cabinet Decision No. 34 of 2025, the UAE introduced tax benefits for QIFs and Qualifying Limited Partnerships to attract global capital.
Tax exemption applies if the fund meets:
If a QIF exceeds the 10% real estate limit, only 80% of real estate income is taxed (matching REIT rules).
Non-resident investors in REITs/QIFs only need to register for corporate tax on dividend distribution dates (reducing paperwork).
Some partnerships can now obtain pass-through tax status, aligning with international tax best practices.
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The reforms reinforce the UAE's position as a top investment destination by:
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Only if they invest in a QIF/REIT that breaches the 10% real estate limit or fails ownership diversity rules.
Yes, if they meet the real estate (10%) and ownership conditions.
Investors face a tax nexus from the acquisition date (unless corrected within 9 months).
No immediate changes—only new breaches trigger taxation.
The 2025 UAE tax updates provide greater clarity, incentives, and ease of compliance for foreign investors in QIFs and REITs. By reducing tax burdens and aligning with global standards, the UAE continues to attract international capital and cement its status as a leading financial center.
April 3, 2025
Eid Al Adha, the "Festival of Sacrifice," is one of the most important Islamic holidays in the UAE. In 2025, Arafat Day is expected to fall on Sunday, June 15, followed by Eid Al Adha from Monday, June 16, to Wednesday, June 18. These dates correspond to Dhul Hijjah 9–12 in the Islamic calendar.
The UAE government will confirm the exact dates closer to the event based on the moon-sighting committee’s announcement.
Eid Al Adha commemorates Prophet Ibrahim’s willingness to sacrifice his son in obedience to God, who then provided a ram instead. The holiday involves:
No—the expected dates (June 15–18) fall from Sunday to Wednesday, meaning:
✅ 4 consecutive days off for most employees.
✅ No weekend overlap, so no lost holidays.
✅ Potential for extended leave if companies add extra days.
Many UAE platforms like Dubai Municipality, Al Mawashi, and Emirates Red Crescent allow online Qurbani bookings.
Most UAE schools will likely close from June 15–18, aligning with the public holiday. Some may extend breaks if Eid overlaps with term dates.
Expected from June 16–18, subject to moon sighting.
Likely 4 days (Sunday–Wednesday) for both public & private sectors.
Yes, but book flights & hotels early—prices rise closer to Eid.
For Muslims who can afford it, yes. Licensed butchers must perform it.
Eid Al Adha 2025 in the UAE is expected to bring a 4-day break (June 15–18), perfect for family time, travel, or staycations. Since dates depend on moon sightings, final confirmation will come in June. Start planning early to make the most of this festive season!
March 25, 2025
The UAE Central Bank (CBUAE) has launched the new 100 dirham note, a polymer-based currency with advanced security features, marking a significant step in the nation’s financial evolution. For investors in UAE real estate, this update reflects the country’s commitment to innovation, sustainability, and economic growth—key factors that make the UAE a prime destination for property investment.
The new 100 dirham note is more than just a currency update—it’s a testament to the UAE’s vision for the future. Key features include:
1- Front: Um Al Quwain National Fort (heritage symbol).
2- Back: Port of Fujairah and Etihad Rail (economic progress).
This redesign aligns with the UAE’s Third Issuance of the National Currency Project, following the award-winning Dh500 and Dh1,000 polymer notes.
The new 100 dirham note isn’t just about cash—it signifies the UAE’s economic stability and growth, crucial for real estate markets. Here’s how:
The UAE’s focus on sustainable finance (like polymer notes) mirrors its push for green buildings and smart cities, boosting property values.
Etihad Rail’s inclusion on the note highlights improved connectivity, increasing demand for real estate near transport hubs.
Advanced anti-counterfeit measures reinforce the UAE’s reputation as a secure financial hub, attracting more foreign buyers to Dubai and Abu Dhabi properties.
The note’s release during Eid Al Fitr 2025 underscores the UAE’s cultural and economic appeal.
While digital payments rise, high-value property deals often involve cash transactions. The new 100 dirham note’s durability and security make large transactions safer.
With the UAE's economy thriving, investors should consider these top areas for property investment: Dubai Marina offers luxury waterfront properties with high rental yields, while Abu Dhabi CBD features government-backed projects delivering stable ROI. Sharjah provides affordable housing options with growing expat demand, and Ras Al Khaimah presents tourism-driven growth opportunities with attractive freehold options.
Pro Tip: The new 100 dirham note’s durability means fewer replacements—just like investing in long-term, high-value properties in the UAE.
The UAE new 100 dirham note is more than money—it’s a symbol of progress, security, and sustainability, much like the country’s real estate market. For investors, this reinforces the UAE’s position as a global property hotspot.
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