Following a cabinet meeting late on Wednesday night a series ground breaking initiatives have been put in place. 

To reduce the cost of doing business in Dubai and stimulate economic growth, following directives from HH Skeih Mohammed, cross sector announcements were made.

HH Sheikh Hamdan announced the changes in a series of tweets early on Thursday morning. This follows a similar series of sudden tweets by HH Sheikh Mohammed recently regarding foreign ownership and 10 year visas. 

More details to come as to how soon the fees will be removed in the other industries, however, for parents of children in private schools, a freeze on current fees will come as a huge relief as they plan for the year ahead. 

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More analysis to follow…

The cabinet met to aid economic growth…

Following the directives of @HHShkMohd, we adopted a series of initiatives during today’s Executive Council meeting aimed at stimulating economic growth and reducing the cost of doing business in Dubai. The initiatives include the reduction or cancellation of various govt. fees. pic.twitter.com/6IeQzc0j6b

— Hamdan bin Mohammed (@HamdanMohammed) June 6, 2018

Fees for commercial entities have been cut in half

Firstly, we agreed to lower market fees imposed by Dubai Municipality on commercial entities from 5% to 2.5%, in order to preserve Dubai’s distinctive investment environment on a regional and global level.

— Hamdan bin Mohammed (@HamdanMohammed) June 6, 2018

Loads have fees have been canceled for airlines aswell

In order to develop Dubai’s aviation sector, we are cancelling 19 fees related to the aviation industry and to aircraft landing permits … Dubai is a global hub for the industry and our hard-won position in this sector needs to be strengthened.

— Hamdan bin Mohammed (@HamdanMohammed) June 6, 2018

A 4% property fee has been waived

We also approved waiving the 4% fee for a delay in property registration imposed by the Dubai Land Department. The real estate sector is an important component of Dubai’s economy and we are working to provide the best government services to both investors and developers.

— Hamdan bin Mohammed (@HamdanMohammed) June 6, 2018

Finally, to ‘release the burden on parents’ all private school fees have been frozen

Finally, we ordered an immediate freeze on the tuition fees of all private schools in Dubai for the coming academic year (2018-2019), in order to reduce the financial burden on parents.

— Hamdan bin Mohammed (@HamdanMohammed) June 6, 2018