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Mid East Info
13-06-2025
- Business
- Mid East Info
Emirates Properties launches Dh350 million Azha Millennium Residences as Dubai's branded home supply grows - Middle East Business News and Information
The launch of Azha Millennium Residences embodies Dubai's strategic vision to raise the real estate market value to Dh1 trillion by 2033 Under the patronage of HH Sheikh Rashid bin Humaid Al Nuaimi, Chairman of the Municipality and Planning Department in Ajman, Emirates Properties Group launched Azha Millennium Residences, an ultra-luxury branded mixed-use development that will be developed at the heart of Jumeirah Village Triangle (JVT), Dubai. Being developed by Emirates Properties Group, one of the large property developers in the UAE, the Dh350 million Azha Millennium Residences will deliver an exquisite collection of 196 Millennium Hotels & Resorts-branded apartments and curated retail spaces upon completion in Q4 2027. With its futuristic design, integrated living experience, and sustainable infrastructure, Azha Millennium Residences harbours Dubai's ambitious goal to propel the real estate market value to Dh1 trillion by 2033 – a key indicator of the Dubai Real Estate Sector Strategy 2033. Rising 30 storeys high, it is the latest hotel-branded development to adorn Dubai's towering skyline, reaffirming the city's appeal to the global affluent. The emirate recorded transactions of more than 13,000 branded units in 2024, a 43 per cent increase from 2023, according to market intelligence and property consultancy Global Branded Residences (GBR). Currently boasting 43,000 homes across 132 high-end developments in its inventory, Dubai eyes to increase its stock by more than double over the next five years. 'Azha Millennium Residences is a unique addition to Dubai's striking portfolio of branded homes. The project is an embodiment of aesthetics, sophistication, and convenience, further enhancing Dubai's appeal as an ideal residential destination for luxury lovers,' Sheikh Rashid bin Humaid Al Nuaimi said. Azha Millennium Residences features 196 units, including 56 studios, 84 one-bedroom, and 56 two-bedroom apartments, meticulously designed for comfort, elegance, and smart living. With prices starting from Dh629,000, studios span an area from 375 square feet onwards while sizes of one- and two-bedroom units span up to 979 square feet and 1,746 square feet, respectively. Emirates Properties Group is offering an attractive and flexible payment plan: 10 percent down payment, 30 percent during construction, 10 percent upon handover, and 50 percent in three years post-handover, allowing seamless purchases. The surge of wealthy home-buyers in Dubai is central to the growth of branded homes. The market's appeal lies in Dubai's multi-cultural lifestyle, safety, accessibility, economic resilience, and favourable position on the world map. Dubai now ranks among the top 20 wealthiest cities, hosting 81,200 millionaires, including 237 centi-millionaires and 20 billionaires. The number of wealthy people with a net worth exceeding US$100 million in Dubai is expected to grow two-fold by 2034, according to the 'World's Wealthiest Cities Report 2024' published by Henley & Partners in collaboration with New World Wealth. Properties like Azha Millennium Residences will help maintain the supply level in the long run as the market foresees rising demand due to the influx of High-Net-Worth-Individuals (HNWIs) by the next decade. Mohammed R. Hegazi, Managing Director of Emirates Properties Group, said, 'Azha's launch takes place at a time when Dubai is receiving a large number of super-wealthy settlers. Each residence is masterfully crafted to embody luxury living at its core. Millennium Hotels and Resorts adds pivotal value to homes, promising an unmatched experience with its signature hospitality services. 'This will widen the choice of ultra-luxury properties and help global ultra-high networth individuals to live in Dubai.' Azha Millennium Residences features a suite of world-class amenities that resonate with the opulent lifestyle of its residents. Ground level facilities include a swimming pool, BBQ area, lush garden, play areas, and a café lounge. On the rooftop, residents can access a health club, a pool offering scenic views of JVT, a lounge, indoor cinema, and entertainment room. Moreover, residents can experience hotel-style living with Millennium's premium hospitality services like concierge, round-the-clock security, in-room dining, housekeeping, valet parking, and additional wellness facilities. More than 300 designated parking slots across four podiums are available. Strategically located in Jumeirah Village Triangle, Azha Millennium Residences is in close proximity to some of Dubai's iconic landmarks, including Miracle Garden, Mall of the Emirates, Dubai Autodrome, Palm Jumeirah, and Bluewaters Island. Emirates Properties Group is a sustained player in UAE's residential real estate contributing a number of attractive projects to the country's diverse landscape. It is a key developer in Ajman where its portfolio includes a mix of low-rise residences, tall towers, and vibrant villa communities. It has expanded its footprint in Dubai and Abu Dhabi, with Azha Millennium Residences being its third launch in Dubai. About Emirates Properties Group: Emirates Properties Group is a leading real estate developer committed to delivering high-quality, design-led projects that enrich urban life and foster lasting value for investors, residents, and communities across the UAE.
Time of India
11-06-2025
- Business
- Time of India
Are you an influencer or filmmaker in Dubai? Here's how much you need to pay for a media licence
Professionals across all media sectors in Dubai now face mandatory licensing with clearly defined fees under the new law. (Representational image) The UAE has officially released a detailed fee structure for media-related licences under Cabinet Decision No. (41) of 2025, just days after implementing a sweeping new media law that introduces fines of up to AED 1 million (USD 272,000) for violations such as spreading fake news or insulting religious beliefs. The updated decision outlines mandatory licensing costs for a wide range of professionals and entities operating in the country's media landscape, including influencers, digital creators, film distributors, journalists, publishers, event organisers, and video game producers. The move is part of a broader effort to formalise, regulate, and ensure accountability in the UAE's growing media sector while promoting transparency and compliance. These licences are now legally required to operate media services or distribute content in the UAE, with specific categories and renewal fees clearly specified. Digital Creators and Influencers Influencer permit (for paid content): Dh1,000 (USD 272) annually Renewal: Dh1,000 (USD 272) Visitor influencer permit: Dh500 (USD 136) for every 3 months Digital platform/media outlet licence (e.g., podcast, blog, streaming): Dh5,000 (USD 1,360) Renewal: Dh5,000 (USD 1,360) Press, Journalism, and Foreign Media Sponsor a foreign journalist not registered in the country: Dh6,000 (USD 1,632) per sponsorship Temporary media coverage permit: Dh300 (USD 82) Foreign journalist or reporter not registered in the country licence: Dh500 (USD 136) Renewal: Dh500 (USD 136) Cinema and Film Production Open a cinema (6+ screens): Dh100,000 (USD 27,200) initial, Dh50,000 (USD 13,600) annual renewal Open a cinema (up to 5 screens): Dh60,000 (USD 16,320) initial, Dh30,000 (USD 8,160) annual renewal Film distributor licence (animation, documentary, cartoon): Dh35,000 (USD 9,520) initial, Dh18,000 (USD 4,896) renewal Film production licence (same genres): Dh18,000 (USD 4,896) initial, Dh8,000 (USD 2,176) renewal Screening a film in the UAE: Dh1,000 (USD 272) per film Screening a trailer: Dh500 (USD 136) Poster display approval: Dh500 (USD 136) Ticket sales permit: Dh500 (USD 136) Age classification: Dh500 (USD 136) Urgent classification service: Dh6,000 (USD 1,632) Commercial content shown inside cinemas: Dh1,000 (USD 272) Licence to design and produce advertising content: Dh5,000 (USD 1,360) Renewal: Dh2,500 (USD 680) Events and Single-Use Permits Screening a film or event for 1 day (e.g., football match): Dh500 (USD 136) Self-monitoring digital platform permit: Dh2,000 (USD 544) Video Games and Entertainment Platforms Video game sales licence: Dh10,000 (USD 2,720) Game production licence: Dh4,000 (USD 1,088) Renewal: Dh2,000 (USD 544) Game rental (via platform): Dh5,000 (USD 1,360) annually Artistic Production and Services Audio-visual production studio licence: Dh15,000 (USD 4,080) Renewal: Dh8,000 (USD 2,176) Theatre or artistic performance licence: Dh10,000 (USD 2,720) Renewal: Dh6,000 (USD 1,632) Licence to design, implement, and install advertising billboards: Dh10,000 (USD 2,720) Renewal: Dh5,000 (USD 1,360) Books, Printing , and Publishing Licence to practice printing-related businesses: Dh10,000 (USD 2,720) Annual renewal: Dh5,000 (USD 1,360) Licence to establish a printing press: Dh25,000 (USD 6,800) Annual renewal: Dh15,000 (USD 4,080) Licence to publish a daily newspaper: Dh100,000 (USD 27,200) Renewal: Dh50,000 (USD 13,600) Reprint foreign daily newspapers: Dh50,000 (USD 13,600) Foreign media office licence: Dh3,000 (USD 816) Sell/distribute more than 10 copies of foreign books: Printed: Dh15 (USD 4) per book Digital: Dh10 (USD 2.72) per e-book Library or bookstore licence: Dh3,500 (USD 952) Licence Changes, Cancellations, and Modifications Cancel licence: Dh200 (USD 54) Transfer of ownership: Dh100 (USD 27) Request to amend media activity licence data: Free Also read: Posting Without Official License Could Cost Dh1 Million in UAE The fee structure under Cabinet Decision No. (41) of 2025 is now legally binding and applies to all individuals and entities engaging in media activities within the UAE. Licences are required for operating platforms, producing or distributing content, and hosting media-related events. The decision also complements the recently enacted media law, which imposes penalties of up to Dh1 million (USD 272,000) for violations, including the spread of misinformation and offensive content.
Time of India
11-06-2025
- Business
- Time of India
Posting without license? Influencers in UAE risk Dh1 million fine: Here's what you need to know
Influencers earning from content in the UAE must get business licenses or risk fines up to Dh1 million/ Image :Pexels A major update to media regulation in the UAE has officially come into force, requiring all social media influencers and content creators engaged in commercial activities to obtain a business license before applying for a media license from the UAE Media Council. This shift is part of the broader Media Regulation Law, implemented on May 29, 2025, by the UAE Media Council, marking a significant development in the country's evolving digital media landscape. The regulation is aimed at fostering ethical, high-quality online content, while safeguarding societal norms and ensuring public trust. Previously, influencers and creators were only required to obtain a media license. The new regulation now mandates a business license first, reflecting the UAE's commitment to more structured oversight of online commercial activity. Purpose and Vision Behind the Law The policy is part of the UAE's Digital Participation Policy, designed to promote constructive engagement on social media while ensuring compliance with local laws and values. It gives the Media Council broad authority to monitor, modify, or remove digital content that violates regulations. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo Speaking at a recent press conference in Dubai, Maitha Al Suwaidi, CEO of Strategy and Media Policies Sector at the UAE Media Council, emphasized the broader vision behind the law. 'This road map reflects our deep understanding of the challenges and opportunities presented by new media. It is designed to foster a flexible, contemporary environment that aligns with global media trends while safeguarding the UAE's core values,' she said. She also noted that the primary goals of the new licensing system are to build public trust, protect audiences, and elevate the quality of online content. Fee Exemptions to Support Content Creators In a supportive move aimed at easing the transition, the UAE Media Council has waived all permit fees for a period of three years for influencers and content creators applying under the new system. According to Maitha Al Suwaidi: 'To support content creators, the Council is offering a three-year exemption from permit fees, providing a financial cushion for influencers to adapt to the new regulations.' This approach reflects an understanding of the financial and logistical challenges that many independent creators face, particularly those who are just beginning to commercialize their platforms. Strict Penalties for Non-Compliance The updated Media Regulation Law also introduces stringent penalties for violations. Offenders may face fines of up to Dh1 million, with the severity of the penalty based on the frequency and gravity of the offense. The UAE Media Council retains full authority to delete or modify any content that contravenes the guidelines set forth in the new law, including posts that may be deemed defamatory, offensive, or otherwise disruptive to social harmony. What Influencers and Creators Need to Know Here's a breakdown of what's now required under the new law: Licensing Steps: Obtain a business license — mandatory for any influencer or creator earning through content. Apply for a media license — from the UAE Media Council after the business license is secured. Key Features: Three-year exemption from media license fees to ease the financial burden. Regulatory oversight of content for quality and social compliance. Authority to remove or amend content violating the law. Penalties: Fines up to Dh1 million for violations. Escalating penalties based on the severity and recurrence of offenses. Broader Impact The UAE's updated media framework marks a defining moment in its approach to digital communication. It puts in place a modern and robust regulatory system that balances the freedom to create with responsibility and accountability, ultimately aiming to promote a safer, more credible, and culturally respectful digital environment. With the UAE emerging as a growing hub for digital talent, these regulatory developments are likely to shape influencer practices, guide content standards, and ensure that public engagement remains respectful and in line with national values.
Al Etihad
11-06-2025
- Business
- Al Etihad
Borouge, ADNOC L&S enter $531 million partnership to accelerate UAE petrochemical exports
11 June 2025 09:49 ABU DHABI (WAM) Borouge Plc and ADNOC Logistics & Services Plc (ADNOC L&S) have entered a 15-year strategic partnership that will support a significant increase in the production and export of petrochemicals from the mutually beneficial service agreement will deliver a minimum guaranteed value of $531 million (Dh1,950 million), supporting the next phase of Borouge's accelerated growth plans, driving operational cost savings over the full contract term, realising more than $50 million in cost savings and efficiencies in the first five years alone, and enhancing the company's supply chain agreement covers port management, container handling, and feeder container ship services for the Borouge Container Terminal in Al Ruwais Industrial City, Abu L&S will manage the transportation of up to 70 per cent of Borouge's annual production, which will increase significantly following the completion of the Borouge 4 plant expansion. It will deploy a minimum of two dedicated container feeder ships to transport Borouge's products from Al Ruwais to the deepwater ports of Jebel Ali in Dubai and Khalifa Port in Abu Sultan Al Suwaidi, CEO of Borouge, commented, 'This agreement builds on our long-standing collaboration with ADNOC L&S, a partnership that has been instrumental in meeting the evolving needs of our customers in high-growth markets."It brings significant benefits to Borouge; driving substantial operational cost savings and enhancing our Logistics Variable Cost (LVC), as well as complementing our existing rail operations and expanding the flexibility of our supply chain network. With the rapid increase in our production capacity, we are advancing our capabilities in delivering differentiated products and solutions efficiently, while keeping pace with rising global demand."As Borouge plans to ramp up production capacity by 1.4 million tonnes per annum by the end of 2026 through its Borouge 4 mega project, Borouge will become the world's largest single-site polyolefin partnership with ADNOC L&S will further enhance Borouge's supply chain efficiency as well as reinforce ADNOC L&S' commitment to delivering innovative, integrated supply chain solutions that enhance trade, strengthen industrial resilience, and support the UAE's vision for economic diversification and global Abdulkareem Al Masabi, CEO of ADNOC L&S, said, 'This comprehensive container terminal agreement marks a major milestone in our successful partnership with Borouge, delivering on ADNOC L&S' strategy to provide seamless, end-to-end logistics solutions that power the UAE's industrial growth and export leveraging our extensive maritime and logistics expertise, we are ensuring that Borouge's world-class petrochemical products reach global markets efficiently and competitively.'ADNOC L&S' integrated logistics capabilities include managing container terminal operations, feeder services, and logistics solutions to meet increasing global demand. The agreement comes as ADNOC L&S continues to grow its international presence, providing comprehensive logistics solutions for global customers across various sectors.
Al Etihad
09-06-2025
- Business
- Al Etihad
UAE markets continue rally with DFM rising by more than 1%
9 June 2025 20:19 A. SREENIVASA REDDY (ABU DHABI)The UAE stock markets continued their momentum on Monday, with the Dubai Financial Market rising by more than 1% on the first day of trading after the four-day Eid break. The Abu Dhabi Securities Exchange (ADX) recorded its third consecutive session of gains, with its general index (FADGI) rising by 0.135% to close at 9,748.13. A total of 25,847 trades were executed, involving 502 million shares with a combined value of Dh1.334 billion. The total market capitalisation of all companies listed on the ADX stood at Dh3.012 led the rally with a 1.56% gain, followed by e& with a 0.58% rise and ADNOC Gas with a 0.3% increase. Aldar has announced plans to establish the region's first King's College School Wimbledon in Abu Dhabi as part of the recently announced project Fahid Island. Multiply, whose shares rose by 0.87% on Monday, announced a new media brand bringing all its outdoor advertising companies under one banner. Other top gainers on the ADX included E7W Warrants (+14.93%), Al Wathba National Insurance (+13.92%), and Abu Dhabi National Takaful (+13.64%). Notable decliners were Gulf Medical Projects (-6.05%), Investcorp (-2.94), and National Bank of Fujairah (-2.63%). DFM The Dubai Financial Market's general index (DFMGI) rose by 1.026% to close at 5,592.75, its highest point since 2008, with almost all sectors in positive territory. A total of 20,636 trades were executed on the DFM, involving 834 million shares with a combined value of Dh1 billion. Share prices of 30 companies rose, 15 declined, and 10 remained the real estate giant, was the star performer with its stock rising by nearly 15% to reach Dh1.06. Deyaar Chief Executive Officer Saeed Mohammed Al Qatami recently wondered at a press conference why his company's stock price was less than a dirham when its book value was well above Dh1. Deyaar is often overtaken in optics by its better-known rivals — Emaar and Emaar Developments. Another blue-chip company, Salik, surged by 2.27%, leading to one of the biggest recent rallies. Among the other top gainers were Union Properties (+14.87%), Al Mal Capital REIT (+10%), and Emirates REIT (+9.43%). On the losing side, Al Mazaya Holding fell by 8.84%, followed by Emirates Islamic Bank (-5.65%), Amlak (-4.24%), and National Industries (-2.01%). Monday was the last day of trading for Emirates Islamic as its 100% ownership was acquired by its parent company, Emirates NBD. Amlak Finance, in a disclosure, clarified that the recent price rally was triggered by the company's decision to proceed with the execution of the sale of the Ras Al Khor plots to Emaar Development for a total consideration of Dh2.9 billion. Stock Markets Continue full coverage
