Dubai has unveiled a second economic incentives package worth AED 1.5bn, approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. Combined with the earlier AED 1bn programme announced in March, the emirate's total support commitment now stands at AED 2.5bn.
The new package comprises 33 initiatives to be rolled out over three to 12 months, spanning tourism, trade, logistics, education, culture, construction, transport, real estate and government services.
Key measures include fee exemptions and deferred payments for private schools and early childhood centres, Tourism Dirham charge exemptions for hotels and restaurants, and an 80% reduction in customs-related fines. Supply contract retention requirements will be cut from 10% to 2%, while SME membership licenses expiring in 2026 will receive two-year extensions.
Building permit validities will also be extended, giving developers greater flexibility to deliver projects.
Gulf Economist Staff Writer