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UAE rebrands the Dirham and readies digital currency launch

The updated symbol has two horizontal lines representing the currency’s stability

Gareth van Zyl
Gareth van Zyl

27 March, 2025

UAE rebrands the Dirham and readies digital currency launch

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The Dirham — the UAE’s official currency which has been in existence since 1973 — now has a new symbol as part of a fresh digital push.

The Central Bank of the UAE (CBUAE) revealed on Thursday the new currency symbol as part of a broader effort to strengthen the UAE’s position as a leading global financial hub.

The updated symbol draws from the English name “Dirham,” with two horizontal lines representing the currency’s stability, reflecting elements of the UAE flag. For the digital version, the symbol is enclosed in a circle with the national flag’s colours: an emblem meant to underscore national pride and the country’s forward-looking financial vision.

The move coincides with the CBUAE’s accession to the FX Global Code, making it the first central bank in the Arab region to join the voluntary code that promotes fair and transparent practices in the foreign exchange market. The new symbol and digital developments reflect efforts to raise the Dirham’s international profile, especially as digital finance gains pace.

As part of the broader Financial Infrastructure Transformation (FIT) programme launched in 2023, the CBUAE is preparing for the phased issuance of the Digital Dirham. Legally recognised as a universal payment instrument under Federal Decree-Law No. (54) of 2023, the Digital Dirham will be accepted across all payment platforms and channels, alongside physical currency.

CBUAE Governor Khaled Mohamed Balama described the initiative as a “major milestone” for the central bank.

“This marks a major milestone in the implementation of the Digital Dirham programme and aligns with the Central Bank’s strategic vision,” he said.

“The Digital Dirham, as a blockchain-based platform with cutting-edge capabilities, will enhance financial stability, inclusion, and resilience, while helping to combat financial crime,” Balama added. “It will also drive innovation in digital products and services, reduce costs, and expand access to global markets.”

Built on blockchain architecture, the Digital Dirham aims to provide atomic transaction completion, improved privacy, and strong risk management. Retail issuance is expected in the last quarter of 2025, with individuals and businesses set to access it via licensed banks, exchange houses, and fintechs.

The CBUAE is also rolling out a secure and integrated digital wallet that will support a wide range of use cases, from retail and wholesale payments to cross-border transfers and redemptions. Features such as tokenisation and smart contracts are expected to support more complex and automated financial transactions while enhancing efficiency and inclusion.

Similar move in Saudi

The UAE’s move mirrors a similar initiative in Saudi Arabia, where the Saudi Central Bank (SAMA) unveiled an official symbol for the Saudi Riyal in February 2025. Inspired by Arabic calligraphy, the new Riyal symbol is designed to reinforce the currency’s identity and usage in local and international financial contexts.

Saudi Arabia has also become a full participant in Project mBridge, a cross-border central bank digital currency (CBDC) pilot involving central banks from China, Hong Kong, Thailand, and the UAE. The project is seen as a key initiative to modernise international trade payments through blockchain-powered CBDCs.

UAE, Qatar, Oman rate among world’s top 5 safest places

Gulf Cooperation Council (GCC) nations dominated the rankings, with Oman joining Qatar in the top five and Saudi Arabia securing the 14th spot

Gulf Business
Gulf Business

27 March, 2025

UAE, Qatar, Oman rate among world’s top 5 safest places
Image: WAM

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The UAE has been ranked the second safest country globally, achieving a safety index score of 84.5, according to the 2025 Safety Index released by Numbeo.

Andorra secured the top position with a score of 84.7, while Qatar ranked third at 84.2, followed by Taiwan and Oman in fourth and fifth place, respectively.

Gulf Cooperation Council (GCC) nations dominated the rankings, with Oman joining Qatar in the top five and Saudi Arabia securing the 14th spot.

Safety rankings for the UAE

Numbeo’s annual safety rankings are based on user surveys that assess perceptions of crime levels, personal safety, and experiences with both property and violent crimes.

The index is widely referenced as an indicator of public safety across various global regions.

In addition to its high safety ranking, the UAE also recorded the second-lowest crime rate in Numbeo’s 2025 Crime Index, reinforcing its reputation as one of the most secure nations worldwide.

World’s 20 safest countries in the world

The following 20 countries made it to the Numbeo’s Safety Index:

  1. Andorra – 84.7
  2. UAE – 84.5
  3. Qatar – 84.2
  4. Taiwan – 82.9
  5. Oman – 81.7
  6. Isle of Man – 79.0
  7. Hong Kong – 78.5
  8. Armenia – 77.9
  9. Singapore – 77.4
  10. Japan – 77.1
  11. Monaco – 76.7
  12. Estonia – 76.3
  13. Slovenia – 76.2
  14. Saudi Arabia – 76.1
  15. China – 76.0
  16. Bahrain – 75.5
  17. South Korea – 75.1
  18. Croatia – 74.5
  19. Iceland – 74.3
  20. Denmark – 74.0

5 reasons why Palm Jebel Ali is Dubai’s next big real estate opportunity

The Palm Jebel Ali project has been revived after years of quiet

Nilufer Najeeb
Nilufer Najeeb

27 March, 2025

5 reasons why Palm Jebel Ali is Dubai’s next big real estate opportunity
Image credit: Supplied

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Construction activity on Palm Jebel Ali is picking up dramatically as developers look to make it the next big luxury location.

This is according to real estate agency fäm Properties in a recent report.

The Palm Jebel Ali project has been revived after years of quiet. Construction began on the project back in 2002 and it was originally planned to be completed by mid-2008.
However, the Global Financial Crisis (GFC) stalled the project and it was subsequently relaunched last year.

The revival comes amid a buoyant property sector in Dubai, in which prices, especially in the residential segment, have been on a tear with the emirate experiencing a 36 per cent increase in sales volumes in 2024, according to data from fäm Properties.

Now, the Palm Jebel Ali, which is 50 percent larger than the Palm Jumeirah, is expected to be another bright spot in the market.

Firas Al Msaddi, CEO of fäm Properties, says the palm-shaped island is set to become the next major destination for luxury real estate, offering more spacious and affordable waterfront properties with lower initial costs and price per square foot.

He says there are five key reasons for this:

  • Palm Jebel Ali villa plots are often double the size of those on Palm Jumeirah – 21,000 sqft vs 10,500 sqft – giving buyers more space and exclusivity.
  • Average price per square foot for built villas are around Dhs3,000 compared to Dhs9,000 on Palm Jumeirah.
  • Prime waterfront plots on Palm Jebel Ali average Dhs2,500 per sqft, compared to Palm Jumeirah’s Dhs8,000 per sqft.
  • Entry prices are approximately 50 per cent lower than Palm Jumeirah for comparable ultra-luxury villas.
  • Palm Jebel Ali offers buyers 3 to 4-year payment plans: a key advantage over Palm Jumeirah where only resale transactions are available with full upfront payment.

Palm Jebel Ali growth potential

“This is the last opportunity to acquire six and seven-bedroom waterfront residences directly from the developer,” Al Msaddi said.

He went further to explain the strategic plans:“Once this phase is complete, these villas will be available only on the secondary market, where resale demand is expected to drive prices significantly higher”.

“Major announcements will further drive investor interest and demand, with an influx of global high-net-worth buyers intensifying competition,” said Al Msaddi.

Experts say this will increase demand for Palm Jebel Ali as it nears completion, driven by its lower entry prices.

Comparison of Dubai’s Palm Islands

The key difference between Palm Jebel Ali and Palm Jumeirah is their scale and stage of development.

Palm Jebel Ali boasts a land area of 147 million square feet and a 110 km coastline, which is double the size of Palm Jumeirah’s 61 million square feet and 78 km shoreline, according to the market analysis by Firas Al Msaddi.

Palm Jumeirah is a well-established and residential leisure hub, accommodating around 25,000 people in luxury homes which includes waterfront villas and apartments, comprehensive retail destinations, leisure attractions, and marinas, creating a vibrant lifestyle destination within Dubai.

Rendered image of the Palm Jumeirah. (Supplied)

Emirates Group to co-locate to world’s largest solar-powered data centre

Starting in mid-2026, the Emirates Group will begin relocating its data centre operations to Moro Hub, which will provide comprehensive services

Gulf Business
Gulf Business

27 March, 2025

Emirates Group to co-locate to world’s largest solar-powered data centre
Image: Getty Images/ For illustrative purposes

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The Emirates Group has entered into a strategic partnership with Moro Hub, a subsidiary of Digital DEWA, to provide co-location services at the Mohammad Bin Rashid Al Maktoum Solar Park.

Moro Hub is the world’s largest solar-powered data centre, a distinction certified by Guinness World Records.

Starting in mid-2026, the Emirates Group will begin relocating its data centre operations to Moro Hub, which will provide comprehensive services, including rack space, power, cooling, equipment supply, and other associated services.

With the move, the Emirates Group will transition to clean energy, requiring an annual supply of 3,000 megawatts to power its data centre.

Vision for sustainable digital innovation

Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), said: “ We are proud to strengthen the Group’s sustainability journey with this strategic move to the world’s largest green solar-powered data centre at the Mohammed Bin Rashid Al Maktoum Solar Park. This strategic alliance with the Emirates Group underscores Dubai’s dedication to accelerating digital transformation and reinforcing its global standing in sustainable aviation.”

He further added, “By joining forces with them, Moro Hub is set to drive sustainable economic growth and ensure a future powered by innovation and sustainability, thus cementing Dubai’s leadership on the world stage.”

Moro Hub Emirates Group
Image: Dubai Media Office

Emirates Group-Moro Hub: A key partnership

Michael Doersam, Emirates Group’s chief financial and group services officer, said, “By transitioning our digital operations to Moro Hub, we are building operational resilience, scalability, and, above all, reducing our environmental footprint. Adopting clean energy solutions underscores our commitment to a greener, tech-driven future.”

New update on Dubai’s variable parking tariff policy; see details

The Variable Parking Tariff Policy will take effect in Dubai starting April 4

Gulf Business
Gulf Business

27 March, 2025

New update on Dubai’s variable parking tariff policy; see details
Image: Supplied

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Parkin Company has shared an update on the upcoming ‘Variable Parking Tariff Policy’, which will take effect in Dubai starting April 4.

The policy, introduced by the Roads and Transport Authority (RTA), will implement peak and off-peak tariffs across both the public parking portfolio and approximately 35 per cent of developer spaces in Dubai.

The new tariff system will categorise parking into two types: Premium Parking and Standard Parking, based on the type of parking facility and whether the service is used during peak or off-peak hours.

Premium Parking facilities will be located in high-demand, densely populated areas, particularly those near public transport infrastructure.

These zones will be marked with dedicated signage, and tariff details will be displayed for the convenience of users.

Peak pricing will apply for six out of the 14 chargeable hours per day (8am–10am and 4pm–8pm), excluding Sundays and public holidays.

Tariffs during off-peak hours (10am–4pm and 8pm–10pm) will remain unchanged, with pricing in line with the existing tariff structure currently in place.

Increase in Premium Parking spaces

Following further discussions between Parkin and the RTA, it was confirmed that approximately 40 per cent of Parkin’s public parking portfolio will be designated as Premium Parking, up from the previously communicated 35 per cent.

The remainder of the public parking portfolio will be classified as Standard Parking.

As of year-end 2024, Parkin Company operated 3,200 parking spaces across six multi-storey car parks (MSCPs).

The tariff for MSCP parking will remain unchanged at Dhs5 per hour, chargeable 24 hours a day, 365 days a year.

However, customers parking for more than eight hours in any 24-hour period will be subject to a maximum fee of Dhs40.

Developer portfolio subject to new tariffs

At year-end 2024, Parkin’s private developer portfolio consisted of 19,200 parking spaces.

Approximately 35 per cent of these developer spaces will now be subject to the new tariff policy, a significant increase from the initial expectation of zero per cent.

The same tariff policy that applies to public parking will also apply to developer spaces starting April 4.

A detailed breakdown of tariffs for developer spaces can be found in the appendix provided by Parkin.

Special event parking tariff

To manage increased vehicle volumes during major events, a special tariff of Dhs25 per hour will be in effect from 8am to 10pm in the area surrounding the Dubai World Trade Centre (DWTC).

This tariff will apply to approximately 200 parking spaces during mega events

Additional information about the policy is available on Parkin’s website, mobile app and social media channels.

Eid holidays in UAE: Dubai airport set to welcome 3.6m guests

Daily traffic is expected to average 276,000 guests, with the sharpest rise projected in the first week of April

Gulf Business
Gulf Business

26 March, 2025

Eid holidays in UAE: Dubai airport set to welcome 3.6m guests
Image credit: WAM

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Dubai International (DXB) is set to welcome more than 3.6 million guests in total, expected to pass through its terminals during the Eid travel peak.

The peak is anticipated to last from 26 March to 7 April 2025, with the busiest day of the period forecast to be April 5, Saturday, when 309,000 guests are expected at the airport.

Read-Eid Al Fitr holiday in Dubai: Here’s what Emirates passengers need to know

Daily traffic is expected to average 276,000 guests, with the sharpest rise projected in the first week of April. Departures during Eid week are also anticipated to increase by 19% compared to the average weekly volumes over the past month. This scenario also reflects a significant seasonal uplift.

Reasons for the surge in passenger numbers

Strong demand is being witnessed in terms of visiting friends and relatives from countries such as India, Pakistan, and the United Kingdom, alongside a notable rise in leisure travel, including increased traffic to Sri Lanka, Turkey, and Italy.

Advice from Dubai Airports

Dubai Airports has urged guests to use the recently introduced DXB Express Maps, a smart wayfinding tool that provides real-time navigation across all terminals. By scanning a QR code displayed on any flight information screen, guests can locate their gate, browse the full range of dining and retail options, or find nearby facilities with ease.

Services provided by the airport

Dubai Airports also offers enhanced services for People of Determination (PoD) through clearly marked accessibility routes, discreet support for guests wearing the Sunflower Lanyard from trained staff wearing Sunflower pins, and a dedicated Assisted Travel Lounge in Terminal 2.

Dubai Airports is taking multiple steps to ensure seamless guest flows across all touch points throughout the holiday period, working in collaboration with airlines, service and commercial partners, and government authorities.

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