INTERNATIONAL - Dubai has announced measures aimed at curbing rising costs that have reduced the city’s appeal to expatriates and investors alike.
The executive council said Dubai planned to waive some fees on aviation and real estate transactions, freeze school fees and cut charges levied on businesses, according to a statement posted on the state-run WAM news agency on Wednesday.
The measures came on the heels of a decision by Dubai’s larger neighbour, Abu Dhabi, to spend 50billion dirhams (R173.4bn) over three years to stimulate growth.
The United Arab Emirates, where expatriates make up nearly 80percent of the population, is facing serious economic challenges.