Expo 2020 Dubai cements Dubai’s position as a Global Destination for Content Creation: Dubai Media City

DUBAI, With less than six months to go until it begins, Expo 2020 Dubai is strengthening Dubai’s position as a regional and global hub for media, content creators and influencers, stated Majed Al Suwaidi, Managing Director of Dubai Media City.

Many institutions, media platforms and production companies have already begun to boost their local presence in preparation for one of the largest global events since the pandemic.

The six-month spectacle will cement Dubai’s competitiveness and ability to manage large-scale events. It also enhances the attractiveness of the city’s media and content creation industries, essential players that will bring the event to people from all around the world via round-the-clock coverage.

The integrated business ecosystem – represented by Dubai Media City, Dubai Studio City, Dubai Production City and the in5 Media startup incubator – has seen an increase in activity, as the days count down to what has been described as one of the greatest shows on earth.

Collectively, the three business districts host over 3,000 media institutions, 34,000 media professionals, 122 TV and radio channels, and 163 publications and platforms. Content is beamed to millions of people in Arabic, English, Chinese, German, Tagalog, Hindi and Urdu. There are also hundreds of print publications produced in a variety of languages enjoyed by readers around the world.

Dubai Media City was the first of the three business districts. Established in 2000, it was followed by Dubai Production City and Dubai Studio City. Together, these cities have nurtured a business ecosystem that has attracted thousands of companies and professionals to Dubai. The flagship Dubai Media City – which turned 20 last year – has attracted some the world’s largest media corporations, including CNN, BBC, MBC, and CNBC Arabia.

Last November, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, marked Dubai Media City’s 20th anniversary, tweeting, “Today, Dubai Media City completes 20 years since we established it in 2000… Today the city is home to 3,000 media outlets, 34,000 journalist… It hosts 122 TV and radio channels, and 163 publications and platforms… Nothing is impossible in the UAE.”

Al Suwaidi said, “Expo 2020 Dubai will strongly motivate all media platforms and institutions, large and emerging production companies, content creators and independent talent. It provides opportunities to develop unique global content in various relevant sectors for humanity as a whole, as the focus shifts towards turning environmental, technological, and societal challenges into opportunities.”

“The event will be a rich platform for media professionals and content creators. We have already noticed a surge in media activity and demand for some special facilities and equipment, including production studios. We are also receiving many inquiries from international media professionals about our GoFreelance package for freelance creators, which covers careers in various media sectors, including photography, production, audio-visual content, and others,” he continued.

Al Suwaidi added, “The media is a key partner in economic and social development. It has a vital role to play in leading recovery efforts globally, especially as more of the world opens up to local and international airlines, as tourists, entertainment destinations welcome back visitors, and more people embrace coming back to the office. Life is gradually returning to normal. The confidence and reassurance provided by the success of the UAE’s precautionary and preventive measures, and the business sector’s faith in the measures taken by the government, have encouraged strong media activity as they gear up to cover this global event.”

Source: Emirates News Agency

Thani Al Zeyoudi meets Minister of Economic Development of Montenegro

DUBAI, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, highlighted the solid bilateral economic ties between the UAE and Montenegro, noting that the two countries have a distinguished partnership covering economic, commercial, cultural and tourism areas, supported by their leaderships.

This came during his meeting with Jakov Milatovic, Minister of Economic Development of Montenegro, which was held at the headquarters of the ministry in Dubai.

During the meeting, the sides agreed to strengthen their collaboration in the fields of trade, investment, agriculture, renewable energy, transport, entrepreneurship, small and medium-sized enterprises (SMEs), innovation, sciences, creative industries and tourism. They also decided to establish a joint business council.

The sides also expressed their keenness to enhance trade and diversify their economic collaboration, highlighting the importance of increasing visits of official and commercial delegations and creating business and investment opportunities.

Al Zeyoudi presented key trade indicators between the two countries, noting that UAE’s exports to Montenegro in the same year witnessed a 110 percent increase, and in 2020, the total value of their trade was over US$31.3 million, making the UAE Montenegro’s largest trade partner in the Gulf Cooperation Council (GCC) region.

He also elaborated on the UAE’s efforts to accelerate recovery through a general economic plan managed by the Ministry of Economy and its local and international partners.

Milatovic highlighted the profound ties between the two countries and their keenness to establish a joint business council to boost their economic partnership, as well as his admiration for the UAE’s successful economic model and overall development.

The sides agreed to encourage business owners and entrepreneurs from both countries to explore opportunities in their markets, as well as exchange expertise, draft a programme to increase their trade in agricultural and food products. They also agreed to encourage public and private entities in their countries to explore investment opportunities, especially in the fields of land and maritime transport and logistics.

Source: Emirates News Agency

Dubai at the forefront of global tourism recovery, a year after reopening to international travellers

DUBAI, As Dubai marks a year since reopening its borders to international tourists on 7th July 2020, the latest data published by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) shows the city welcomed 3.7 million overnight visitors during the 11-month period from July 2020 to May 2021.

The positive performance reinforces the leading role Dubai is playing in global tourism recovery, underscoring the city’s enduring appeal as a must-visit destination and reaffirming its commitment to ensuring the health and safety of all residents and visitors.

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai said: “The new data reveals that Dubai’s tourism rebound is gathering pace despite the current challenges faced by international markets. The growing momentum of recovery not only reflects the fundamental strengths of Dubai’s tourism sector and the diversity of its source markets but also the emirate’s economic resilience and agility in the face of a rapidly fluctuating global environment. We have seen inspiring commitment and proactivity from all stakeholders in the public and private sector to work together to adopt innovative approaches that can consolidate the sustainable recovery of the sector. Furthermore, Dubai’s ability to implement a rigorous precautionary protocol regime has made the city one of the world’s safest destinations for travelers. As we gear up to host Expo 2020, these exceptional standards will enable us ensure the event provides the highest global benchmarks of safety and security for all visitors.”

According to the data published by Dubai Tourism, the emirate received more than 1.7 million visitors between July and December 2020 from markets that were open, and an additional two million visitors in the first five months of 2021. The evolving travel landscape has brought forth some noteworthy performances from feeder and emerging markets, especially CIS countries like Kazakhstan and Ukraine, and East African markets Ethiopia and Sudan, that have all exhibited strong growth potential to be among the top 15 source markets for Dubai since it reopened its doors to global travellers.

Helal Saeed Almarri, Director General of Dubai Tourism, commented: “The series of swift strategic measures taken by Dubai’s leadership enabled the city to demonstrate a high level of resilience, foresight and agility in managing the pandemic and eventually take the lead in the restart of international tourism. The resurgence in international arrivals demonstrates our commitment to a diversified market strategy, the ability of our tourism sector to adapt and respond with agility across all our markets, the enduring appeal of our world-class diverse offerings and the trust that visitors place in Dubai as a safe destination. The positive performance also validates the effectiveness of Dubai’s public-private partnership model and our robust international marketing campaigns designed to sustain Dubai’s appeal as the destination of choice for global travellers. The critical role played by our strategic partners such as Emirates, flydubai, Dubai Airports and other industry stakeholders, as they consistently conveyed the message that Dubai is open and safe for all travellers, contributed immensely towards industry stabilisation.”

Dubai’s robust tourism rebound is testament to the success of its multi-pronged strategy to combat COVID-19. Inspired by its visionary leadership, Dubai rapidly initiated a comprehensive citywide management of the pandemic, which saw it implementing decisive and effective measures to limit the spread of the virus. The provision of a relief package worth over AED7.1 billion combined with a phased reopening of key sectors and Dubai Tourism’s strong collaboration with local stakeholders and over 3,000 partners worldwide, helped the industry chart a steady course for recovery.

Dubai’s recovery strategy, implemented in close coordination with stakeholders, proved crucial in reinvigorating the domestic hospitality market in May 2020, preparing the ground for the return of international visitors to the city in July 2020. Pent-up demand for staycations among UAE residents, both Emiratis and expatriates from over 200 nationalities, drove tourism growth with hotel occupancy rising significantly from 35 per cent in July 2020 to 58 per cent in May 2021. Hotel occupancy in Dubai peaked in December 2020 (69 per cent) and in January 2021 (66 per cent) with the city ranking second globally in terms of occupancy after Singapore and ahead of Paris and London, according to data from hotel management analytics firm STR.

Notably, the average daily rate (ADR) recovered from AED238 in July 2020 to AED383 in May 2021. Despite the disruption caused by COVID-19 across sectors, Dubai continues to represent a major opportunity for hotel developers. A total of 591 hotel establishments with 100,000 rooms were operating in July 2020 in full compliance with health and safety protocols. This has now increased to 715 hotel establishments offering 128,000 rooms in May 2021.

The concerted efforts of Dubai Tourism and partners to drive demand for domestic travel saw city hotels welcoming 5.5 million domestic visitors for the period between July 2020 and May 2021, compared to 2.66 million domestic hotel arrivals during the period July 2019 to May 2020, an astounding year-on year growth of 106 per cent. The hotels also enjoyed an average 56 per cent occupancy during the Eid Al Fitr holiday week in May 2021, which though less than the average occupancy of 62 per cent during the Eid week in 2019, highlighted the crucial role played by the domestic market in Dubai’s tourism recovery. Furthermore, domestic hotel arrivals during the Eid week in May 2021 accounted for 62 per cent of all hotel guest arrivals compared to 47 per cent in 2019.

As tourists returned to Dubai to enjoy its iconic attractions, experiences and world class infrastructure including beaches, shopping malls, restaurants, theme parks and golf courses, Dubai Tourism remained firmly focused on delivering an exceptional tourism experience whilst prioritising the safety of tourists at every stage and touchpoint of their travel journey, from arrival to departure.

A variety of safety initiatives were launched, based on the guidelines of Dubai’s Supreme Committee of Crisis and Disaster Management, including a wide range of precautionary measures, in addition to effective testing and vaccination programmes. The vaccination campaign also covered employees across hotels, considered the frontline of the tourism industry, starting with a pilot programme that saw more than 10,000 employees of leading hotels on The Palm Jumeirah receiving the vaccines. The UAE is currently ranked among the top five nations globally in terms of vaccine rollout. The stringent measures are underpinned by the DUBAI ASSURED stamp, a compliance protocol that certifies establishments within the tourism ecosystem that adhere to health and safety protocols. Inspectors of Dubai Tourism, Department of Economic Development and Dubai Municipality are also taking a zero-tolerance approach towards non-compliance.

In 2020, when the pandemic was at its peak, the joint teams conducted more than 140,000 inspections on establishments across the tourism ecosystem. Dubai’s extensive and sustained efforts at containing the pandemic won international recognition with the World Travel & Tourism Council (WTTC) awarding the city a ‘Safe Travels’ stamp. The WTTC stamp is also an endorsement of Dubai’s strong global cooperation in combating the pandemic with comprehensive and effective measures to ensure guest health and safety.

Dubai Tourism’s approach to create a unique positioning and raise Dubai’s consideration among global travellers has been effectively promoted and managed amid the pandemic through global marketing campaigns which have contributed to keeping Dubai top of mind amongst international travellers. A series of digital activations including #TillWeMeetAgain, #Ready WhenYouAre and #LiveYourStory have succeeded in showcasing the diversity of Dubai’s destination. Joining this list is the recently launched innovative summer campaign, #Dubai Presents: Summer 2021 to encourage global travellers to select the city for their summer vacation.

During the July 2020 – June 2021 period, Dubai held several international leisure events, as well as all major annual festivals and events including the much-awaited Dubai Summer Surprises (DSS), Dubai Fitness Challenge (DFC) and the Dubai Shopping Festival (DSF) with precautionary measures across the board. The recently launched 24th edition of DSS will further amplify the city’s position as the summer destination of choice for families and a year-round international events hub.

In addition to restarting leisure events, Dubai also developed a successful model for the recovery of the business events sector, which paved the way for the resumption of international events in October and subsequently the hosting of mega events such as GITEX in December 2020 and Gulfood, Arabian Travel Market and Arab Health in February, May and June respectively this year. Since September 2020 to mid-May, Dubai hosted a total of 3,136 business events that were attended by 813,832 delegates. Building on these homegrown events, Dubai also resumed the hosting of conferences and congresses from around the around, in many cases providing organisations and association the opportunity to resume their face-to-face meeting activities and presenting a viable alternative to their original plans.

The city leveraged innovative alternative pathways to capture significant new visitor segments. In 2020, Dubai Tourism launched the Retire in Dubai programme offering resident expatriates and foreigners aged 55 years and above the opportunity to retire and enjoy a distinct lifestyle in the emirate, as well as a Virtual Working programme that enabled overseas professionals to work remotely based in Dubai. Two new initiatives that followed the 2019 implementation of the long-term Golden Visa programme allowed individuals to apply for 10 and 5-year residency. This was targeted at investors, entrepreneurs, specialised talent in art, medical and scientific fields, as well as students and property owners.

Dubai also launched other pioneering projects and programmes that will support tourism growth including the new Al Quoz Creative Zone, a dynamic hub for artists and designers. A host of new developments are set to expand the diversity of Dubai’s offering and add to the momentum of recovery including Ain Dubai, the world’s tallest observation wheel, and the Museum of the Future. These will further build on Dubai’s position as a world-leading business hub, which has been reinforced by the increasing number of multinationals and start-ups choosing the city as their base of operations.

Source: Emirates News Agency

DMCC registers 1,230 companies in 2021 – best H1 performance in 8 years

DUBAI, The Dubai free zone DMCC has welcomed 1,230 new member companies in the first half of 2021, the best 6-month performance since 2013.

This builds on free zone’s strong performance in 2020, during which it attracted 2,025 new businesses supported by DMCC’s relief packages offered during the global pandemic.

“We have carried over the record-breaking performance of 2020 into 2021, with another set of very strong achievements across all our pillars,” said Ahmed bin Sulayem, Executive Chairman and CEO of DMCC. “The numbers speak for themselves and following the recent launch of the DMCC Crypto Centre, which has generated significant interest from the global crypto community, the second half of the year looks even more promising.

“We expect to reach 20,000 members by year-end – a target I am confident we will achieve. As the Emirate prepares to welcome the world to Expo 2020 Dubai and our nation looks to celebrate its Golden Jubilee, the future holds many more opportunities for growth.”

In June alone, DMCC welcomed 220 new businesses to its Free Zone and business district, the best June performance since inception. Q1 of 2021 also marked the DMCC’s best performance in seven years.

Source: Emirates News Agency

Nasdaq Dubai welcomes listing of $750 million bond listing by Emirates Development Bank

DUBAI, Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank (EDB), today rang Nasdaq Dubai’s market-opening bell to celebrate the listing of a US$750 million bond.

The listing announcement event was attended by Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of Dubai Financial Market (DFM), as well as senior executives from both sides.

Al Naqbi said, “The successful second issuance of our $750 million bond issue, which was oversubscribed four times, reflects the global and local investor confidence in our strategy to support UAE’s economic diversification plans.”

The programme will be fundamental to support individuals, SMEs, and corporates across priority industrial sectors in the UAE to build a knowledge-based economy, he added.

The five-year bond issuance received strong demand from investors, as 34 percent of appetite came from MENA markets, 36 percent from European markets, 28 percent from Asian markets and 2 percent from US offshore market.

Ali, in turn, said that these transactions, including the new bond listing from EDB, indicate their deep confidence in the robust listing framework of Nasdaq Dubai in line with the requirements of prominent corporations and investors. The issuance also underlines corporations’ commitment to playing a pivotal role in financing economic development.

The EDB bonds have been listed on Nasdaq Dubai on 15th June 2021, reinforcing Dubai’s leading status as the largest listing venue in the Middle East for US$ denominated debt listings, with a total value of $98.5 billion.

Source: Emirates News Agency

DAE signs agreements to sell aircraft valued at $500 million

DUBAI, Dubai Aerospace Enterprise (DAE) will sell nine narrow and wide body aircraft with a total market value of approximately US$500 million.

The agreements to sell aircraft were signed recently by its leasing division DAE Capital, and sales are all expected to close in 2021, the company said on Tuesday.

Firoz Tarapore, Chief Executive Officer of DAE, commented, “The post-pandemic market for trading aircraft assets is robust. These transactions demonstrate DAE’s ability to originate and trade aircraft assets with a lease attached from high quality airline credits.”

Source: Emirates News Agency