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France Joins Country In Residence Programme In AREA 2071 (24 April 2019)
France officially joined the Country in Residence Programme in AREA 2071, becoming the fifth country to join the initiative which was announced by the Dubai Future Foundation last February.

Dubai Future Council On Media Seeks To Transform The Emirate Into A Global Centre For Media (24 April 2019)
Government of Dubai Media Office: The Dubai Future Council on Media, one of the 13 Dubai Future Councils set up to foresee and shape the future of the emirate’s strategic sectors, today held its first meeting.

Equitativa Announces Steady Property Income Growth For Emirates REIT In 2018 (24 April 2019)
Emirates REIT has recorded a year-on-year total property income growth of 15.3%, driven by a 35% increase in annualized rent in Index Tower.

Dubai Islamic Bank Considers Noor Acquisition (23 April 2019)
Dubai Islamic Bank, DIB, on Tuesday said its board considered the potential acquisition of Noor Bank.

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Motorcycle Mall opens in Dubai

Motorcycle Mall, a new and unique multi-branded concept by Al Yousuf LLC that caters for the biking community in the UAE, has opened its doors in Dubai. The over-14,000 sqft mall features a wide range of bikes, accessories, a fully-equipped workshop as well as a Motorcycle Café. “We are absolutely delighted with the opening of Motorcycle Mall in Dubai. Our aim is to build a community of bikers and we wanted to create a multi-branded concept that is dedicated to them and turn it into a one-stop-shop that caters to all their needs,” says Yousuf Al Yousuf, managing director, Al Yousuf LLC.

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Long-term fundamentals to drive retail growth

Alpen Capital (ME) Limited, announced the publication of its report on GCC Retail Industry for the year 2019. The report provides a comprehensive overview of the GCC retail sector and outlines the recent trends, growth drivers and challenges in the sector. “The GCC retail industry has witnessed challenging times in recent years but the long-term fundamentals of the sector remain intact,” says Sameena Ahmad, managing director, Alpen Capital (ME) Limited. “We anticipate the GCC retail sector to regain momentum, owing to strong fundamentals that include a growing population base, high GDP per capita and tourism growth in the region. Economic recovery led by improving oil prices is expected to revive consumer confidence and improve discretionary spending. Initiatives taken by the GCC governments to stimulate retail infrastructure projects and ease business and visa regulations should provide further impetus to the retail sector.”

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Two of the Best Places in the World to Charter a Yacht

If you are interested in having a yachting vacation, here are two places to consider to rent the yacht that will give you an unforgettable vacation. 

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Dubai reinforces position as favoured winter cruise destination at Seatrade Cruise Global 2019

Dubai’s Department of Tourism and Commerce Marketing, known as Dubai Tourism, highlighted the city’s growing popularity as a global cruise destination during the 2019 edition of Seatrade Cruise Global, a leading exhibition for the global cruise industry that took place from 8th to 11th April in Florida, USA. The event reinforced Dubai’s suitability as a port for international cruise lines and showcased the emirate as a viable destination for pre and post cruise stopovers.

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Developers reduce unit size to make homes affordable

Developers in Dubai have been progressively reducing the unit size to make properties more affordable for investors and end-users, reveals statistics from the Research and Data Team at Property Finder. However, the average price per square foot has progressively increased over the years. Analysis of transactional data of both ready and off-plan properties, mostly apartments, in 2015 and  2019 by Property Finder, the MENA region’s leading property portal, reveals this trend at play.

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Visitor spending in UAE soars to $6.21bln

International tourist spending continues its upwards trend in the UAE as visitors spent Dh22.8 billion with their Visa cards while visiting the country last year as compared to Dh21.7 billion in the previous year, with Saudi Arabia, the US and the UK becoming the largest spenders. According to the latest UAE Travel Snapshot released by Visa on Monday, total spend by inbound Saudi tourists increased by nine per cent year-on-year basis to Dh4.8 billion from Dh4.4 billion, followed by Dh2.4 billion by US visitors and Dh2 billion from the UK tourists. The other countries in the top 10 markets were China (Dh1.3 billion), Russia (Dh1.2 billion), Kuwait (Dh1.1 billion), India (Dh1 billion), Oman (Dh856 million), Bahrain (Dh371 million) and Australia (Dh364 million).

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Carrefour partners with Nestle for Healthier Kids initiative

Carrefour in partnership Nestlé is encouraging children to “Adopt a Fruit, Adopt a Vegetable” at its flagship locations across the UAE. This is part of their Healthier Kids initiative, which aims to help 50 million children lead healthier lives by 2030. Mascots representing different fruits and vegetables will be touring 12 Carrefour stores in the seven Emirates over different weekends, helping bring to life various characters created out of fruits and vegetables with names and key benefits of each presented in a fun and appealing manner. Parents will be offered one stamp for each fruit or vegetable their children try, which they can then redeem, thereby educating helps children on healthy eating habits.

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Emaar Properties approves dividend of AED 1.07 bn (US$ 290 mn) for shareholders

The 23rd Annual General Meeting (AGM) of Emaar Properties PJSC (DFM: EMAAR) today approved the distribution of AED 1.07 billion (US$ 290 million) as dividend to the shareholders, representing 15 per cent of the share capital being 15 fils per share. The meeting approved the report by the Board of Directors on the activities and financial position of the company, the Auditor’s report, and balance sheet for 2018. KPMG was appointed as the auditor for 2019. Addressing the assembly, Mohamed Alabbar, Chairman of Emaar Properties, said: “We are thankful to our shareholders for their support that drives our growth and enables us to create long-term value for the company. Since our inception, we have continuously focused on redefining the property, retail and hospitality landscape of Dubai, and distributed AED 19.4 billion in cumulative dividends between 2011 to 2018. We evolve with time, and today, as a future-ready, digital-first organisation, we are committed to creating futuristic residential, retail, entertainment and leisure assets that transform the lifestyles of people globally.”

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