557,000 SMEs operated in UAE at end of 2022: Minister

Bin Touq Al Marri, Minister of Economy, said that the number of small and medium-sized enterprises (SME) operating in the UAE at the end of 2022 totalled 557,000, in line with the country’s ambitious plan to drive this number to 1 million by the end of 2030.

SMEs account for 63.5 per cent of non-oil GDP, he added, stressing that the ministry’s role in creating an investment environment that supports citizens who own SMEs is in line with its vision to establish a globally competitive knowledge-based economy led by UAE nationals.

The ministry also aims to create a business environment that attracts investment and ensures competition among SMEs, as well as protect consumer rights and increase foreign direct investment (FDI), he further added.

SMEs are prioritised in the country’s economy and are major sources of non-oil GDP, Al Marri stressed, noting that the economic plan for the next 50 years aims to encourage entrepreneurship and SMaEs and promote an entrepreneurial culture among future generations.

Dubai’s realty deals: Dubai real estate market recorded 502 sales transactions worth Dhs1.44 billion, in addition to 95 mortgage deals of Dhs898.52 million, and 13 gift deals amounting to Dhs21 million on Thursday, data released by Dubai’s Land Department (DLD) showed.

The sales included 465 villas and apartments worth Dhs1.1 billion, and 37 land plots worth Dhs340.65 million.

The mortgages included 78 villas and apartments worth Dhs868.7 million and 17 land plots valued at Dhs29.82 million, bringing the total realty transactions of today to over Dhs2.3 billion.