Dubai property market to gather pace as Expo 2020 approaches

Dubai’s residential property market is expected to perform “better” as Dubai Expo 2020 nears although prices and rents will decline between 5 and 10 percent this year, according to S&P Global Ratings.

In January, Expo 2020 Dubai said it will award 47 construction contracts worth $3 billion (AED11 billion) this year as preparations for the first World Expo in the Middle East, Africa and South Asia continue to gather pace. In its 2017 budget, the Dubai government increased infrastructure spending by 27 percent to develop projects for the Expo event.

“The closer we get to 2020 the expectation is that the better the market is going to perform,” said Sapna Jagtiani, primary credit analyst, S&P Dubai, on Thursday.


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Source: Arabian Business

Dubai hosts UN talks on women’s economic empowerment

The economic challenges facing women today and the means of solving them were discussed by a United Nations-led forum in Dubai on Monday.

Discussions ranged from promotion of positive role models, ensuring legal protection and raising awareness of women’s rights.

Sheikh Lubna Al Qasimi, Minister of State for Tolerance, said the UAE was committed to empowering women and encouraging them to take part in the economy.

“The [National Strategy for Empowerment of Emirati Women 2015-2021] aims to provide a general framework for all federal and local government, private sector, as well as civil society organisations, to set work plans and programmes so as to provide a decent living for women and make them creative in all sustainable and developmental fields,” she said.


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Source: The National

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