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From Tax & Rent Rates To Upcoming Landmarks: Here’s What To Expect In Dubai In 2023

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Dubai definitely made some BOLD moves this 2022; the city was thriving with booming property markets, tourism, architecture and other such factors.

Always a step ahead, the city has already penned out an avid list of goals, objectives and occasions that Dubai residents can look forward to in the coming year. Dubai never ceases to inspire and motivate with its ambitious plans, and here is a breakdown of what you can expect/look forward to in 2023.

P.S. Take a page out of Dubai’s book and log your targets straight for the coming year. The benefit of setting a structured list of goals is to provide yourself with a sense of optimism, competence and motivation. 

From tax, rent and self-driving taxis to upcoming landmarks, here’s what to expect in 2023!

8. The iconic One Za’abeel is scheduled to open in 2023

One Za’abeel delivers on all levels! This mixed-use iconic new development – is all set to offer the world’s best living, work, and leisure experiences in the heart of Dubai.

The Link is expected to break the Guinness World record for the “Longest Cantilevered Building”.

This upcoming landmark is turning out to be a promising luxury hub for everything from residence and work to retail and dining.

7. Atlantis the Royal will open on Dubai’s Palm in January 2023

Partygoers, this venue is sure to tempt you with its culturally rich, multi-sensory dining and after-hours party experiences.

The new 43-storey hotel mega-resort in Dubai will come complete with the following:

  • A floating pool
  • 2km of private beach
  • A theatrical restaurant-bar concept by Heston Blumenthal

Reportedly the invite-only GRAND reveal in Jan will see the likes of Robert DeNiro, Gerard Butler, Kylie Minogue and Priyanka Chopra making appearances, with a private performance from the Queen, Beyonce herself!

6. 30 restos have confirmed to be opening in Dubai next year

Dubai unfurled more than 140 restos and bars in 2022 – HUGE! But the F&B scene in 2023 is panning out to be an exciting one, with 30 restos already confirmed openings. Here’s the list:

Above Eleven, Ayla Beach, BCH CLB, City Social Dubai, Coco Fizz, Cucina, Dinner by Heston Blumenthal, Estiatorio Milos, Frank by Basta, F.R.N.D.S. Grand Cafe, Fouquet’s Dubai, Gallery 7/40, Hoe Lee Kow, Jaleo Dubai by Chef José Andrés, Josette, La Mar by Gastón Acurio, Ling Ling Dubai, MESA, Mott 32, Nobu by the beach, Reif Japanese Kushiyaki, SALA, SFUMATO, Smoki Moto, Studio Frantzén and the Frantzén, Tatel, TERO by Reif, TOTÔ, Ugly Burger and ZING.

5. The Dubai property market is set to peak in 2023: With sales, rentals and developments looking aggressive and promising

Advancing from 2022, Dubai’s property market will continue its upward momentum with an improved footfall of buyers and investors. According to global property consultancy Knight Frank’s 2023 Prime Prediction report, Dubai’s prime residential prices are set to see the strongest growth globally in 2023. Prices are set to rise 13.5% in 2023 as more foreign buyers and high-net-worth individuals show an ardent interest in the market.

The areas in high demand include Palm Jumeirah, Emirates Hills and Jumeirah Bay Island.

4. Ain Dubai will re-open to the public in the first quarter of 2023

The giant wheely will be back up and running in the first quarter of 2023, after closing its doors in March 2022.

The world’s largest observation wheel will welcome visitors with exciting offers, post the closure that’s said to be the result of ‘enhancement works’.

3. Dubai’s very own Chinatown is expected to open sometime in the coming year

To be located inside The Dubai Mall, Chinatown will be floored Chinese food shops, restos, bakeries, Asian retail, cosmetics… and you get the gist.

2. RTA confirmed that Driverless Taxis will hit the roads by the end of 2023

Dubai will be the first city outside of the US to operate self-driving vehicles. Say hello to the driverless robotaxi by Cruise that’s looking to hit the streets by 2023.

Cruise signed an agreement with RTA to be the first city, outside of the USA, to operate these vehicles. HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, took to Twitter to announce the special launch. The Cruise self-driving taxis will fulfil Dubai Ruler’s vision for Dubai to become the best city for living and working.

The aim here is to reach 4,000 driverless taxis by 2030.

1. The UAE will introduce a federal corporate tax on business profits that will be effective starting June 1, 2023

FYI, personal income from employment, real estate and other investments will not be taxed.

No corporate tax will apply on personal income from employment, real estate and other investments, or on any other income earned by individuals that do not arise from a business or other form of commercial activity licensed or otherwise permitted to be undertaken in the UAE.

More deets here.

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