Latest news with #DubaiEye103.8's
Dubai Eye
03-07-2025
- Business
- Dubai Eye
Dubai launches initiative to assist first-time home buyers
Dubai has launched a programme for first-time home buyers, aiming to make homeownership more accessible and affordable by facilitating priority access to new launches, preferential pricing and tailored mortgage solutions. The First-Time Home Buyer Programme is applicable to properties less than AED 5 million and accessible to Emirati and expatriates of all nationalities and income levels, and to applicants aged 18 and above who are residents of the UAE. Khalid Al Shaibani, Director of Rental Affairs Department at Dubai Land Department, told Dubai Eye 103.8's The Agenda that the programme offers a flexible payment plan, either from the developer or special interest rates through banks. He added that the 4 per cent fee charged by the mainland department could be paid in interest-free installments over two years, with the aim to attract 5,000 new buyers this year. Leading developers have reportedly already committed to the programme, promising to support first-time home buyers through priority access to units in new off-plan launches, and enhanced commercial terms, including preferential pricing. Participating banks will provide "tailored mortgage products designed specifically for eligible buyers," as the programme reportedly continues to onboard new partners to increase the choice for buyers. Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), said the initiative marks a "significant milestone" for the real estate sector. It "represents a powerful economic lever - stimulating long-term demand, driving liquidity into the real estate ecosystem and accelerating the sector's contribution to GDP in line with the Dubai Economic Agenda, D33. By lowering entry barriers to homeownership for Emiratis and expatriates alike, we are enhancing investor confidence, increasing market absorption rates, and reinforcing Dubai's global positioning as a city where personal aspirations and business ambitions converge," Almarri said. 'In a global climate where housing accessibility is a structural challenge, Dubai is offering a model of sustainable urban development - one that supports talent retention, fosters community cohesion, and enhances the city's competitiveness as a place to live, work, and invest."
ARN News Center
05-05-2025
- Business
- ARN News Center
'Dubai chocolate' accounts for 4% of Dubai Duty Free's April revenue
Dubai's viral pistachio-filled chocolate bars are driving up revenue at Dubai Duty Free, accounting for 4 per cent of the total business in April. Speaking to Dubai Eye 103.8's Business Breakfast show, Managing Director of Dubai Duty Free Ramesh Cidambi said the chocolate represents 40 per cent of all confectionery sales during the month. In April, Dubai Duty Free welcomed sales worth AED713 million ($195.4 million), representing an 18 per cent increase over the same period the previous year. The revenue positions April as the fourth best month on record for the airport retailer since operations began. Originally launched by Fix in 2021, the Kunafa chocolate trend has gone viral with multiple brands offering its versions, even contributing to a global pistachio shortage. At Dubai Duty Free, Chidami said at least five brands are offering the chocolate bars to meet the 1 million daily sale.
Dubai Eye
01-05-2025
- Business
- Dubai Eye
US tariffs show 'no negative impact' at DXB, says Paul Griffiths
The sweeping new US tariffs has not had a "negative impact" on DXB, airport's CEO Paul Griffiths said, but added that with the "volatility of the situation, it's far too soon to comment". Emphasising DXB's resilience, he said: "One thing we have always noticed about DXB is that if there is a bit of an interruption in demand in one market, it is compensated by demand increasing in another market." In an interview with Dubai Eye 103.8's Business Breakfast show, Griffiths said that one airline has experienced the opposite of the expected impact. At Emirates Airline, Chief Commercial Officer Adnan Kazim confirmed that while the airline continues to monitor the situation closely, it has yet to see any significant impact from tariff-related tensions. Still, both leaders acknowledge the uncertainty that lies ahead. With the global situation evolving rapidly, it's too early to make firm predictions about the long-term effects on aviation.
