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Dubai Issues Decree Introducing Incentives for Property Investment Funds

The decree aims to enhance Dubai’s status as a global real estate investment destination. WAM
The decree aims to enhance Dubai’s status as a global real estate investment destination. WAM
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Dubai Issues Decree Introducing Incentives for Property Investment Funds

The decree aims to enhance Dubai’s status as a global real estate investment destination. WAM
The decree aims to enhance Dubai’s status as a global real estate investment destination. WAM

UAE Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has issued a decree introducing incentives for property investment funds in Dubai, Emirates News Agency (WAM) has reported.

The decree aims to enhance Dubai’s status as a global real estate investment destination and attract global property investment funds to the emirate, WAM said.

The decree covers all real estate investment funds licensed and regulated by government authorities as well as private development zones and free zones, including the Dubai International Financial Centre (DIFC). It also covers all real estate in Dubai, including properties located in private development zones and free zones, excluding DIFC, the news agency added.

As per Decree No. (22) of 2022, a ‘Register of Property Investment Funds’ will be established at the Dubai Land Department.

The decree outlines the terms, conditions, and procedures for listing in the Register. Funds seeking to be listed in the Register should be licensed by competent government authorities including the Securities and Commodities Authority and the Dubai Financial Services Authority, DIFC’s independent regulator of financial services.

The value of real estate assets owned by the fund at the time of application for listing in the Register should be AED180 million or above. Funds should not be suspended from trading in Dubai’s financial markets at the time of application.

According to WAM, the decree also directs the establishment of a ‘Committee for Property Investment Funds,’ whose purpose is to identify areas and properties that funds are allowed to invest in either through full ownership or lease for a period not exceeding 99 years.

The value of properties that funds invest in should be AED50 million or above. The properties should be listed as commercial properties and comply with another decree from 2010. Funds are allowed to relinquish ownership of properties only after approval from the Committee.

Property investment funds listed in the Register are entitled to receive the incentives specified by the Decree.

Decree No. (22) of 2022 authorizes the Chairman of the Executive Council of Dubai to amend the incentives specified by the decree or add new ones. The Chairman of the Dubai International Financial Center is also authorized to amend incentives for property investment funds operating within DIFC’s jurisdiction.

The decree also directs the Dubai Land Department to appoint a valuation specialist accredited by the Dubai Real Estate Regulatory Agency (RERA) to determine the value of properties owned by property investment funds.

Apart from the resolutions issued by the Chairman of the Executive Council of Dubai in accordance with Decree No. (22), the Director General of the Dubai Land Department is authorized to issue other resolutions necessary to implement the provisions of the new Decree.

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Business

Saudi Arabia's STC in Joint Venture with Humain to Advance Data Center Buildout

A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)
A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)
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Saudi Arabia's STC in Joint Venture with Humain to Advance Data Center Buildout

A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)
A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)

Saudi Arabia's largest telecoms operator STC on Thursday announced a joint venture with the kingdom's artificial intelligence company Humain to develop and operate data centers.

The companies signed a memorandum of understanding to establish the venture, in which Humain will hold a 51% stake, while STC will own 49%, Reuters reported.

Humain, an AI company backed by Saudi Arabia's sovereign wealth fund PIF, has secured several agreements including deals with Elon Musk's xAI and Blackstone-backed AirTrunk for data center projects in the country, and is targeting a capacity of about 6 gigawatts by 2034.
The joint venture will aim to develop infrastructure capable of supporting operations with a required load of up to 1 gigawatt, beginning with an initial deployment of up to 250 megawatts.

Business

Oil Prices Edge Up After Reports of Possible US Sanctions on Russia, Venezuela Blockade

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
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Oil Prices Edge Up After Reports of Possible US Sanctions on Russia, Venezuela Blockade

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil prices rose slightly on Thursday as investors assessed the likelihood of further US sanctions against Russia and the supply risks posed by a blockade of Venezuelan oil tankers.

Brent crude rose 32 cents or 0.54% to $60 per barrel at 0910 GMT. US West Texas Intermediate crude was up 38 cents, or 0.68%, at $56.32 per barrel.

US intentions to impose more sanctions against Russia and its threatened blockade of tankers under sanctions and carrying Venezuelan oil pushed prices higher, PVM analyst John Evans said.

On Wednesday, Bloomberg reported that the US is preparing another round of sanctions on Russia's energy sector in the event Moscow does not agree to a peace deal with Ukraine, citing people familiar with the matter. A White House official told Reuters President Donald Trump had not made any decisions on Russian sanctions. Further measures targeting Russian oil could pose an even bigger supply risk to the market than Trump's announcement on Tuesday that the US would blockade tankers under sanctions entering and leaving Venezuela, ING analysts said in a note.

The Venezuela blockade could affect 600,000 barrels per day of Venezuelan oil exports, mostly to China, but 160,000 bpd of exports to the US would likely continue, ING said. Chevron vessels were continuing to depart for the US under a previous authorisation from the US government.

Most other Venezuelan exports remained on hold on Wednesday, although state oil company PDVSA restarted loading crude and fuel cargoes after suspending operations because of a cyberattack, sources and customs data indicated.

It was not clear how a US blockade would be enforced. The US Coast Guard last week took the unprecedented step of seizing a Venezuelan oil tanker and sources said the US was preparing for more such interdictions.

Venezuelan crude makes up around 1% of global supplies.

Business

European Gas Prices Lift on Colder Weather Demand

European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium July 16, 2025. REUTERS/Yves Herman/File Photo
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium July 16, 2025. REUTERS/Yves Herman/File Photo
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European Gas Prices Lift on Colder Weather Demand

European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium July 16, 2025. REUTERS/Yves Herman/File Photo
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium July 16, 2025. REUTERS/Yves Herman/File Photo

Dutch and British gas prices posted small gains on Thursday morning but are largely expected to trade sideways with rising demand from colder weather easily met by pipeline and liquefied natural gas deliveries.

The benchmark Dutch front-month contract at the TTF hub was up 0.19 euros at 27.57 euros per megawatt hour (MWh), or $9.48/mBtu, by 0907 GMT, LSEG data showed.

The Dutch day-ahead contract was up 0.41 euros at 27.36 euros/MWh.

The British day-ahead gas price was up 0.90 pence at 71.00 pence per therm, while the front-month gas contract was up by 0.62 pence at 72.90 p/therm, Reuters reported.

The weather will be mostly dry but slowly colder with below-normal temperatures towards the end of the next week, LSEG meteorologist Georg Mueller said.

"This pattern seems to be stable and will likely last into early January," he added.

Prices appeared to have exhausted their potential for further decline, but a comfortable LNG balance in particular prevented a real rebound, analysts at Engie EnergyScan said in a daily note.

Key US liquefied natural export plant Freeport LNG was on track to take in more gas on Wednesday in a sign that one of its three liquefaction trains has returned to service after shutting down on Tuesday.

Norwegian pipeline gas nominations to Europe hit 348.8 million cubic metres (mcm) per day on Wednesday, their highest level since August 2024, and are at 347.6 mcm/day on Thursday, data from infrastructure operator Gassco showed.

Latest positioning data indicated that speculators are increasingly bearish on the TTF, with investment funds building their largest net-short position since early 2020, analysts at ING said.

"It continues to pose a risk to the market should we see any supply disruptions or demand surges," they added.

EU gas storage sites were last 68.75% full, compared with 77.5% at the same time last year, Gas Infrastructure Europe data showed.

In the European carbon market, the benchmark contract was down 0.81 euro at 85.99 euros a metric ton.