Dubai real estate market recorded 476 sales transactions worth AED1.17 billion, in addition to 92 mortgage deals of AED181.95 million, and 20 gifts deals amounting to AED35.42 million on Monday, data released by Dubai’s Land Department (DLD) showed.
The sales included 430 villas and apartments worth AED845.38 million, and 46 land plots worth AED322.29 million, while mortgages included 73 villas and apartments worth AED120.07 million and 19 land plots valued at AED61.88 million, bringing the total realty transactions of today to over AED1.3 billion.
These include a plastic ban will be imposed across more emirates; sales outlets must charge 25 fils extra per plastic bag shoppers use as of next year.
2022 has been a year of labour reforms and a new visa regime. As we gear up to step into New Year, there are a number of new laws that will also come into effect from next year. These include Emiratisation targets for companies, the introduction of corporate tax, mandatory insurance against job loss, imposition of the plastic ban across more emirates, and personal status law for non-Muslims.
Below are the details of laws that will come into effect in 2023:
Mandatory job insurance [Starting January 1, 2023]
Purchasing insurance against job loss is mandatory for employees working in the private sector and federal government departments
Investors and business owners who own and manage their business themselves, domestic workers, employees on a temporary basis, juveniles under the age of 18 and retirees who receive a pension and have joined a new employer exempted
Workers with a basic salary of Dh16,000 or less will need to pay a monthly insurance premium of Dh5, i.e. Dh60 annually
Compensation for this category must not exceed a monthly amount of Dh10,000
While those with a basic salary exceeding Dh16,000 will need to pay Dh10 per month, i.e. Dh120 annually
Compensation for this category must not exceed Dh20,000 monthly.
Employees can choose to pay the premium on a monthly, quarterly, half-yearly or annual basis
Worker may coordinate with the insurance company to subscribe to additional benefits
Workers can subscribe through the insurance pool’s website (www.iloe.ae) and smart application, bank ATMs and kiosk machines, business service centres, money exchange companies, du, Etisalat and SMS.
The scheme will be offered by the Dubai Insurance Company, which is the representative of the insurance pool consisting of nine companies.
Corporate tax [Comes into effect from June 1 2023]
Firms posting Dh375,000 profit per annum to pay 9% tax
The tax will be levied on the profit, not on the total turnover, of the company
It will not be applicable to the salary of the residents
Individuals holding the freelance permit, under the self-sponsorship and earning income in excess of the threshold will be subject to corporate tax.
It will also not be applicable to the personal income earned from bank deposits, savings programmes and investments, dividends, or foreign exchange gains.
If real estate income is derived from economic activity (Leasing, selling, transferring, etc.) it may be subject to corporate tax basis as conditions are stipulated in the executive decision in this regard. However if income is earned from real estate investment where commercial activities are performed by the investment manager, it may qualify as exempt income.
Non-residents are also subject to corporate tax if they have a permanent establishment in UAE as well as on state-sourced income (I.e., from the sale of goods, provision of services etc.) in the country. Non-residents’ income from operating aircraft, and ships in international space is not subject to corporate tax. A non-resident is not subject to corporate tax on income earned through an investment manager on real estate or any other investment.
Qualifying Free zone person which fulfills all conditions specified in the Executive Regulations of the UAE Corporate Tax Law will be exempt. Natural resource extraction activities are also exempted, however, they’re subject to existing emirate-level taxation. Government entities’ activities (Excluding commercial activities), pension funds, investment funds and public benefit organisations are exempt from the corporate tax.
Emiratisation target
It’s mandatory for companies with more than 50 employees to achieve an Emiratisation rate of 2% for skilled jobs to avoid penalties
Non-compliant companies will face financial penalties, which will be collected starting from January 2023.
A monthly fine of Dh6,000 will be imposed for every UAE national that has not been appointed. And the fine will be paid in a single instalment.
If a UAE citizen hired by a private company resigns, the firm will have to get an Emirati replacement to meet the Emiratisation target.
Companies that successfully achieve Emiratisation targets will receive major incentives, including discounts of up to 80 per cent on MoHRE fees.
Personal status law
New personal status law on all non-Muslim foreigners will come into effect from February 1, 2023
The provisions will apply to non-Muslim foreigners residing in the country unless someone adheres to the application of his country’s law.
Non-Muslim foreigners may agree to implement other legislation on family or personal status in force in the UAE instead of the provisions of this Decree-Law.
The new law covers the marriage conditions and the procedures of contracting and documenting the marriage before the competent courts.
It also specifies the procedures of divorce that can be initiated jointly or unilaterally.
It organises the procedures for settling the financial claims after divorce and the arrangement of joint custody for the children.
The law organises the procedures for inheritance and testaments (wills) and proofs of paternity.
Plastic ban
Ajman and Umm Al Quwain will ban single-use plastics from January 2023
Sales outlets must charge 25 fils extra per plastic bag shoppers use as of next year.
Retailers in Abu Dhabi, Dubai, and Sharjah already charge 25 fils per bag to consumers to reduce use of single-use bags and plastic in the country.
Dubai is anyone’s dream destination. Dubai offers activities of a diverse range that can entertain people from all walks of life. From kids to senior citizens, everyone visiting the city leaves with loads of hearty memories to share.
OliOli is one such place in Dubai that has the potential of entertaining both kids and adults with the unlimited fun they offer.
What is OliOli Dubai?
OliOli Dubai is a one-of-its-kind experiential museum in the region for kids. The kids find the place extremely entertaining, whereas adults also can have a fair share of fun during their time here. OliOli provides many fun activities all at once that kids would not want to leave the place even after hours of playing at the place.
The name OliOli is derived from the Hawaiian word ‘Olioli’ which translates to joy. Joy is the pure definition that could be given to OliOli Dubai with its eight galleries spreading across two floors. The place offers an exceptional immersive sensory experience to visitors.
OliOli creators have carefully designed the place with art and modern equipment required to have a time filled with not just fun, but also some great learning experience. The idea behind OliOli is curated by drawing inspiration from leading global educators, artists, and developmental psychologists.
OliOli is a perfect place for family bonding. Kids can find their talents or interests at OliOli and indulge in activities that could cultivate creativity, curiosity, and imagination.
OliOli has received various recognitions including Tripadvisor Traveller’s Choice Award in 2021.
What to do at OliOli Dubai?
OliOli Dubai is a perfect combination of family activities, education, recreation, and interactive experiences for developing minds. You can never run out of edutainment options at OliOli Dubai. Here are some of the fun things you can engage in while at OliOli Dubai.
OliOli Mess Fest 2022
OliOli Mess Fest is the messiest and most exciting event that is hosted by OliOli Dubai. It is scheduled to start on 24th December 2022 and run until 28th December 2022. They have turned their parking lot into a fun arena for the children to explore crazy colors, mad science, and epic bubbles.
OliOli has set up 5 stations for you to explore unlimited fun in their parking lot. The Bubble Party station includes fun activities with bubbles. You can explore exploding experiments like rainbow pop rockets and bubble worms. You can have fun at a bubble party with your friends and also experience being inside a giant bubble.
Mad Science is centered on science themes and experiments. You can explore the science behind rainbows, bubbles, and some epic explosions. You can also make your own bubbles at the station and experience your pop rockets taking off.
The Paint Palooza station is all about playing with colors. You can be the messiest and no one will judge you, sounds good right? Play with colors and unleash that creative genius inside you. You can also make use of the paint catapult, paint drums, and graffiti wall at the venue.
Oobleck offers you a chance to play with a non-newtonian liquid. The substance is neither solid nor liquid. This is the messiest experience at the OliOli MessFest 2022. Play with the goo-ey liquid to satisfy your guilty pleasures.
Splash Mania will help you get out of the mess you have created from the other stations. You can engage in a water battle with your friends.
Spend time at the galleries
OliOli Dubai offers more than 40 hands-on exhibits in its galleries. Their galleries are interactive and informative for the kids.
Image Source: OliOli Dubai
Air Gallery at OliOli is for those pilot aspirant kids. This section of the gallery offers various activities for kids which could foster their dream of becoming pilots someday. They can learn more about aerodynamics, gravity, and friction with the various floating installations in Bernaulli’s Blower. The kids can also experience Air Curtain and marvel at the 110 kph hurricanes at Hurricane Booth.
At the Air Gallery, kids are exposed to the principles of flight, wind, gravity, aerodynamics, friction, and resistance. The experiments at the air gallery also foster their fine motor skills, spatial skills, coordination, and problem-solving skills.
Image Source: OliOli Dubai
Water Gallery at OliOli Dubai features 10 interactive hands-on installations. Some of the fun activities you can do at the water gallery are dancing in the rain, playing with water vortex, firing a ball cannon, and washing a real car. From simple day-to-day play to scientific experiments, you can experience most of the water-splashing fun possible.
Water Gallery aims at educating the kids on the power and motion of earth’s most remarkable resource. They will also come across scientific principles regarding liquids like buoyancy, density, vortices, gravity, and so on. The experiments are curated to enhance social skills, critical thinking, and gross motor skills.
Image Source: OliOli Dubai
Toshi’s Net is all about fun. You can have all the excitement you experience on trampolines, the excitement you have on a playground, and also experience Alice in Wonderland-like adventures. This is one of the most vibrant-looking galleries with the major portion of the gallery filled with colorful woven strings that can hold up to 29 baby elephants.
Children can climb and explore through the nets resulting in the development of their fine and gross motor skills. The place knows no bounds to your creativity and imagination. Toshi’s Net will give them a small experience in risk-taking and also a chance at socializing.
Image Source: OliOli Dubai
Future Park at OliOli gives your kid an insight into the futuristic world. This space gets them to develop collaborative creativity to upscale their learning process. The main theme of teamLab Future Park is ‘Changing the Relationships Among People: Making the Presence of Other People a Positive Experience’.
The creators of teamLab intend to transform individual creativity into positive creative experiences for everyone and to create ‘co-creative’ activities in our daily lives.
Image Source: OliOli Dubai
Cars and Ramps is a perfect place for aspiring automotive engineers. Kids can design and engineer their own cars to race or jump over the towering ramps at OliOli. You can challenge your friends to engineer their own cars to race with yours on the tracks.
Cars and Ramps at OliOli open the world of physics in front of your kids. They can explore principles of acceleration, mass, gravity, friction, and laws of action at Cars and Ramps. Critical thinking and motor skills are developed through the trial-and-error process of engineering a car.
Image Source: OliOli Dubai
Incredi-Balls will operate in your creativity. There are 6 different installations at the gallery where you can roll your ball in style. Rolls, turns, bumps, and objects are placed along the path of the ball to direct the path to its home.
You can also build your own ball path. This will give you an idea of gravity at work, laws of motion, and experience kinetic energy. Incredi-Balls is all about building, adjusting, and collaborating. It can foster your kid’s observation skills, tracking skills, problem-solving skills, and design/spatial thinking skills.
Image Source: OliOli Dubai
Toddler Gallery is for kids under 2 years of age. The installations here focus on hands-on, sensory, tactile, and interactive open-ended plays. Toddler Gallery is specifically designed for toddlers to have a safe place where they can slowly explore things suitable for their age.
Toddler Gallery is designed to create wonder and development in the kids through active and sensory play. The holistic development of a toddler is one of the main focuses of this gallery.
Visit the Magical Winterland
Image Source: OliOli Dubai
Magical Winterland is a temporary exhibition happening at OliOli Dubai this winter. You can witness a beautiful miniature winter town. Magical Winterland is UAE’s largest miniature winter village.
The miniature town is built with 700 pieces featuring landmarks and citizens. You can also look for Winterland Express moving through the miniature town. Try to spot the winter carnival brimming with fun. Enjoy the scenic beauty of snow-capped mountains and frozen lakes in this miniature town.
You can also engage with the citizens of this merry village while discovering hidden portals in the winter town.
Host your little one’s birthday party
Image Source: OliOli Dubai
OliOli Dubai offers an opportunity for you to celebrate your kids’ birthdays at their place. The kids will surely have a good time at the place spending their time in a wholesome new experiential museum. While the kids are in the galleries having fun, you can relax at the café inside OliOli.
OliOli Dubai has two party packages including 90 minutes of play, yummy food for your kids, and a 30-minute birthday ceremony for the star of the day in the private party room.
The packages are priced at AED130 for a child on weekdays and AED150 on weekends. For guided play at any three galleries, additional AED15 will be charged.
How much does an OliOli Dubai ticket cost?
A two-hour OliOli’s standard visit ticket for a child (2-16 years) cost AED126 and for a toddler (12-23 months) it costs around AED63. A two-hour OliOli’s standard visit and Magical Winterland ticket for a child costs around AED146 and for a toddler it costs around AED73.
Every child ticket gives 1 adult access to OliOli Dubai. For extra adult admission, a ticket priced at AED42 should be purchased.
You can book your tickets in advance on their website.
What are the opening hours of OliOli Dubai?
OliOli Dubai is open from 9 am to 7 pm on Mondays, Tuesdays, Wednesdays, Fridays, and Sundays. On Thursdays, their operating hours are from 9 am to 6 pm while on Saturdays they are open until 8 pm.
How to reach OliOli Dubai?
OliOli Dubai is located in Dubai’s art district, Al Quoz. You can easily access the spot from Sheikh Zayed Road/E11.
If you are looking forward to commuting to the place via public transport, you can take buses to Al Quoz. There are bus stops within walking distance. If you opt for the metro, get down at Al Safa and hire a cab to reach the destination.
