AB Espresso: UAE visas ‘at the top of the agenda, ’ says Pakistan ambassador

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In today’s newsletter:

Discover the latest stories from Arabian Business, compiled by our team. Here's what you missed on Tuesday:

Pakistan's ambassador to the UAE says visas will be "at the top of the agenda" during the country's Deputy Prime Minister Mohammad Ishaq Dar's visit to the UAE this month. "We face challenges with visas, for visitors and workers. These conversations occur at my level, administrator level and the top level," Pakistan Ambassador Faisal Niaz Tirmizi said.

In the UAE, the Cabinet has approved the Union General Budget Plan for the fiscal year 2025, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. The budget, totalling AED 71.5 billion in revenues and expenditures, maintains balance and is the largest in the nation's history. This federal budget is part of the multi-year financial plan (2022-2026) and has been allocated across sectors.

Meanwhile, the foreign investment flow to the Middle East region has been affected by the conflict escalation, with a slowdown expected in investment deals in the near term, said an executive of a VC and fintech firm, said an executive of a VC and fintech firm. Market sentiment could be impacted by factors like oil prices and volatility in the markets, potentially leading to a dip in investor confidence.

On real estate, Muhammad Binghatti revealed growth plans and shared insights on the company's approach to branded residences on the latest AB Majlis episode.

In addition, Sharjah's new real estate laws aim to boost tenant protections and solidify its position as an emirate for residents and businesses. The laws, which include eviction safeguards and rent freezes, have drawn attention from industry experts who see benefits for the emirate's property market. Under the new regulations, residential tenants in Sharjah now have three-year protection from eviction, while businesses receive five-year safeguards. But, is it the time to invest?

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

Sharjah has introduced new real estate laws extending eviction protections and rent freezes to boost tenant rights and market appeal – but is it the right time to invest?

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