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ABU DHABI, 2nd June, 2023 (WAM) — There is no doubt that the new master plan for the Palm Jebel Ali development was approved on Wednesday by Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai. His Highness Al Maktoum’s approval, will be known mainly for its ambition, commented a local publisher.
In an editorial on Friday, The National said, “Its 110 kilometers of new coastline will provide 35,000 families with beachside living. 80 hotels and resorts, green spaces and other leisure and retail venues will be spread over a 13.4-square-foot Kilometers of development. Twice the size of the Palm Jumeirah, it has become a huge draw for one of the most dynamic cities in the Middle East.
“The scale of the project – and the many jobs it will create through its design, construction and operation – is a clear sign that the emirate has firmly put the downturn of the Covid years behind it.”
The project also sheds light on Dubai’s enduring fascination – a city that many people from around the world want to visit, study or work in, or even settle in for a day. This is especially true of Arabs from all over the region, who call the UAE home. The entire UAE has been voted the best country to live in by young Arabs for the 11th year in a row in 2022, and the Jebel Ali program shows that no one is resting on their laurels.
Backing this sprawling development is a host of legal and economic initiatives that will ensure Dubai’s competitiveness. In recent years, the UAE has made it easier for people to work and live here by introducing a range of visa options, including long-term residency in the form of golden visas.
Significant changes in the UAE’s family laws for non-Muslims and its opening to foreign ownership have also made it easier than ever to live and put down roots in the UAE.
“Projects such as the Palm Jebel Ali thrive in a growing and diversifying economy, and the UAE is working hard to provide this fundamental framework,” the editorial continued.
This week, the country took a major step by introducing a corporate tax – a useful economic tool that not only generates vital revenue for the country to support its citizens, but also allows the government to slow or stimulate the economy. Not to mention the financial transparency and accountability this tax requires for businesses operating in the UAE.
It was also announced this week that the country will build new industrial units to boost exports and boost the sector’s contribution to the national economy. Meanwhile, Abu Dhabi launched a AED500 million ($136 million) fund to help small and medium-sized industrial companies adopt smart manufacturing technologies. Last month, Abu Dhabi Global Market revealed it would expand tenfold to create one of the world’s largest financial districts.
“With this solid economic foundation, there will be opportunities in different sectors. Dubai will be at the center of these developments and those who come to live and work here will want to enjoy all that the emirate has to offer in terms of employment, entertainment and culture.” Jebel The Palm Ali is not just another step on the road to a truly diversified economy – it is a tangible reflection of the stability and prosperity the UAE is creating,” concluded the Abu Dhabi-based daily.
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