This week in the UAE has been marked by significant announcements, including a new tax exemption for foreign entities, anticipated holiday dates, insights into cryptocurrency transactions in Dubai real estate, and the inauguration of a new visa application center. Each of these developments reflects the country’s growing ambitions, making it a pivotal moment for residents and investors alike. Here’s a closer look at the ten key stories from the UAE that you might have missed.
UAE Announces Tax Exemption
The UAE recently disclosed an exemption from Corporate Tax for specific foreign entities. The Ministry of Finance (MoF) issued Cabinet Decision No. (55) of 2025, which pertains to the Federal Decree-Law No. (47) of 2022 concerning the Taxation of Corporations and Businesses. This decision broadens the corporate tax exemption to encompass foreign entities wholly owned by certain exempted groups such as government entities and public pension funds.
New Bridge to Enhance Travel in Dubai
The Roads and Transport Authority (RTA) of Dubai has outlined plans for a new two-lane bridge in Nad Al Sheba, extending around 700 meters. This infrastructure project aims to support residential areas in Nad Al Sheba while offering a streamlined route for vehicles commuting from Dubai to Al Ain. The bridge, designed to accommodate up to 2,600 vehicles hourly, aims to reduce travel time by 83%, slashing the journey from six minutes to just one.
Anticipated Holidays in the UAE
Looking ahead, residents may enjoy a long weekend as the Islamic New Year, or Al-Hijra, is tentatively expected to fall on June 27, 2025. This prediction suggests a public holiday spanning from June 27 to 29, aligning conveniently with the weekend. However, the official date will be confirmed closer to the time, dependent on moon sighting.
Dubai’s Innovative PropTech Hub Launched
The Dubai PropTech Hub has been launched with a vision to drive innovation in the real estate sector, targeting a doubling of its value to $1.2 billion over the next five years. Chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the initiative aims to enhance the growth of the PropTech market and encourage technological advancements within the real estate sector.
Abu Dhabi’s Automotive Ambitions
In related news, Abu Dhabi aims to become a key player in the automotive manufacturing sector with a large-scale economic program. Announced during the Make it in the Emirates Forum 2025, this initiative focuses on building a comprehensive automotive ecosystem, projected to contribute significantly to the GDP by 2045 while creating thousands of jobs and attracting foreign investment.
Umm Al Quwain: An Emerging Property Hotspot
Real estate experts are now identifying Umm Al Quwain as a promising investment hotspot. With an increasing number of significant projects, it’s drawing investors as neighboring markets mature. According to Andrew Cummings from Savills Middle East, the interest is part of a larger trend, where investment focus is shifting towards the northern emirates, presenting lucrative opportunities for buyers seeking more affordable options.
Record Off-plan Sales in Dubai’s Real Estate Market
The Dubai real estate market is experiencing a boom in off-plan sales, reaching AED 90 billion ($24.5 billion) this year alone. This surge includes approximately 40,500 off-plan transactions, making up 38% of all sales between January and mid-May 2025. Compared to ready-built properties, which represent 62% of market sales, off-plan properties are luring investors with the promise of high returns and favorable financing options.
World’s Largest Visa Application Centre Opens in Dubai
Dubai has also unveiled the world’s largest visa application center, equipped to handle an impressive 10,000 applications per day. VFS Global inaugurated this facility at Wafi City, enhancing the efficiency of the visa application process. Covering nearly 150,000 square feet, the center aims to streamline operations with a team of over 400 multilingual professionals.
Cryptocurrency Transactions in Real Estate: A Growing Trend
In Dubai, buying property with cryptocurrency has emerged as a viable alternative to traditional real estate transactions. With the emirate’s progressive stance on blockchain technology, more developers and buyers are turning to digital currencies for property purchases. The conversation has shifted towards understanding the associated risks and benefits, as this trend continues to redefine the landscape of the real estate market.
Emirates NBD Receives RBI Approval for Indian Expansion
Lastly, Emirates NBD has received in-principle approval from the Reserve Bank of India (RBI) to establish a wholly-owned subsidiary in India. This strategic development positions Emirates NBD on an equal footing with local banks, thereby enhancing its operational capabilities within the Indian market. As stated by the RBI, this approval will facilitate the continuation of Emirates NBD’s banking operations in India through its existing branches.