10-year residence visa for investors, doctors, engineers | 100% foreign ownership

100% ownership of UAE-based firms for international investors, 10-year residence visa for investors, professionals (doctors, engineers, etc) as well as their families, and Grade A students

The UAE Cabinet has announced decisions

  • allowing a 100-per cent ownership of UAE-based enterprises for international investors,
  • residency visas for up to 10 years for investors
  • residency visas for up to 10 years for investors professionals (doctors, engineers, etc.) and their families,
  • grade ‘A’ students.

    The move was announced in a tweet sent out from the official Twitter handle of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

The amendments to the residency system were approved during a Cabinet meeting chaired by Shaikh Mohammad Bin Rashid Al Maktoum.

 

Market Update – Extension of Al Jimi Mall, Al Ain

Market Update – Extension

Project: Al Jimi Mall Extension
Location: Al Ain, UAE
Expected Completion: Q4 2018
Extension:  88 new stores & Al Ain’s first eight screen Vox Cinema.
Status: – Extension is under Construction

(Addition of 484,000 sqft of gross leasable area (GLA) i.e. innovative Retail Park, plus 88 new entertainment, retail and F&B tenants, Al Ain’s first eight screen Vox Cinema. Addition of 1200 car parking spaces)

Dubai retail giant opens first Ras Al Khaimah Mall

My City Centre Al Dhait is part of Majid Al Futtaim’s plan to raise UAE investments by AED30bn by 2026,

Dubai-based retail giant Majid Al Futtaim has announced the opening of its first shopping destination in Ras Al Khaimah.
The company said My City Centre Al Dhait aims to meet the everyday dining, lifestyle and retail needs of Ras Al Khaimah’s fastest-growing communities.

“Today we underscore Majid Al Futtaim’s commitment to delivering a unique retail experience to fast-growing communities around the region with the opening of My City Centre Al Dhait, our first shopping destination in Ras Al Khaimah and the latest addition to the growing My City Centre brand in the UAE,”
said Ghaith Shocair, CEO – Shopping Malls, Majid Al Futtaim – Properties.

The AED68.5 million mall, which has a gross leasable area of 5,494 square metres, houses more than 30 regional and international lifestyle brands.
My City Centre Al Dhait is Majid Al Futtaim’s third My City Centre mall in the UAE, a neighbourhood shopping and dining destination created specifically for nearby residential and commercial communities.
The company said the opening of My City Centre Al Dhait reinforces its commitment made in 2016 to increase investments in the UAE by AED30 billion by 2026, taking its total investments in the UAE to AED48 billion.

My City Centre Al Dhait complements Majid Al Futtaim’s additional investments in the Northern Emirates, which include the expansion of both City Centre Ajman and City Centre Sharjah in 2018.

 

Market Update – Mirkaaz, Ajman

Market Update – New Mall

Project: Mirkaaz, Ajman
Location: Dubai, UAE
Expected Completion: End of 2019
Capacity: 100+ Shops
Status: –

(The mall will feature international restaurants, a cinema, a family entertainment area, botanical gardens, a health and fitness centre, and a hypermarket

Mirkaaz will be the first mall in the UAE to feature a sprawling atrium roof)

City Centre Mirdif 91m USD revamp (June 2018)

Majid Al Futtaim gives update on enhancements at City Centre Mirdif, set for completion in early 2018, is part of the mall operator’s commitment to enhance customer experience, the company said in a statement.

The Enhancement includes

  • an innovative parking guidance system that enables arriving guests to easily identify available parking spaces and electronically locate their cars after a trip to the mall.
  • 500 existing parking spaces have been upgraded
  • the expansion will add over 1,000 car parking spaces on the new upper deck and new entry and exit points.
  • City Centre Mirdif’s VOX Cinemas expansion project (to include 10 new screens – six new standard and four new THEATRE by Rhodes auditoria – as well as a lounge and public amenities.) is scheduled for completion in June 2018.

Majid Al Futtaim’s overall UAE strategy to open by the end of 2020.

10 new City Centre destinations –  28 Cinemas – 40 Carrefour supermarkets