UAE Cabinet Approves Record-Breaking AED 71.5 Billion Union General Budget for 2025

The UAE Cabinet, presided over by His Highness Sheikh Mohammed bin Rashid Al Maktoum, has officially approved a historic Union General Budget for the fiscal year 2025. This budget totals AED 71.5 billion in both revenues and expenditures, maintaining a balanced approach that reflects the strength and sustainability of the national economy.

This budget marks a significant milestone as it represents the largest financial allocation in the UAE’s history. It is part of a comprehensive multi-year financial plan running from 2022 to 2026, emphasizing the government’s commitment to supporting critical developmental, economic, and social initiatives across the nation.

The 2025 budget is strategically distributed among key sectors, ensuring a wide-reaching impact. Notably, AED 27.859 billion, accounting for 39% of the total budget, is earmarked for Social Development and Pensions. Within this allocation, AED 10.914 billion (15.3%) is dedicated to public and higher education programs, while AED 5.745 billion (8%) is set aside for healthcare and community prevention services. Additional funds include AED 3.744 billion (5.2%) for social affairs, AED 5.709 billion (8%) for pensions, and AED 1.746 billion (2.5%) for public services.

The Government Affairs sector receives AED 25.570 billion, making up 35.7% of the budget, while the Infrastructure and Economic Affairs sector is allocated AED 2.581 billion, representing 3.6% of the total. Furthermore, AED 2.864 billion (4%) is designated for Financial Investments, alongside AED 12.624 billion (17.7%) reserved for other federal expenditures.

This budget approval underscores the UAE’s unwavering commitment to enhancing its social infrastructure and economic growth, ensuring the well-being of its citizens and residents while fostering a sustainable future.

Luxe Developers Partners with China State Construction for AED1.5 Billion Oceano Project

The Luxe Developers has officially selected China State Construction Engineering Corporation (Middle East) as the primary contractor for its ambitious AED1.5 billion Oceano development located on Al Marjan Island. This strategic partnership marks a significant milestone for the project, as China State Construction, the world’s largest construction firm by revenue, will oversee essential aspects including the construction, completion, and long-term maintenance of the development. The initial enabling works, such as shoring, piling, and excavation, have already been successfully completed by S.S. Lootah Foundations.

Shubam Aggarwal, Chairman and Co-owner of The Luxe Developers, expressed enthusiasm about the collaboration, stating that China State Construction is not only firmly established in the industry but also possesses a robust reputation. He highlighted the contractor’s extensive experience with prestigious projects in the UAE, the broader Middle East, and globally, emphasizing how their expertise will be crucial in delivering the high standards expected for the Oceano project.

Tian Sanchuan, President of China State Construction Engineering Corporation (Middle East), conveyed their commitment to excellence, stating, “We are honoured to be appointed as the main contractor for The Luxe Developers’ Oceano project. This partnership reflects our dedication to delivering innovation in every endeavor. We look forward to leveraging our extensive experience to bring this visionary development to life.”

The Oceano project, anticipated to be completed by 2026, is designed to offer a total of 206 residential units spread over 18 stories. The development includes an array of one-, two-, three-, and four-bedroom apartments, six luxurious penthouses, and two exclusive sky villas, catering to a diverse range of residents and their needs. Positioned on a unique corner plot on Al Marjan Island, the development spans an impressive built-up area (BUA) of 79,000 sqm.

Oceano promises a wealth of high-end amenities designed to enhance the living experience. Residents will enjoy an infinity pool boasting breathtaking views of the Arabian Sea, advanced fitness facilities complete with state-of-the-art gyms and yoga studios, and rejuvenating spa services that cater to their wellness needs.

Architecturally, Oceano will feature distinctive design elements such as free-flowing glass facades and minimalist frames, ensuring an aesthetic appeal that complements the surrounding environment. Each floor will be designed to rotate on different planes, providing residents with unique and unobstructed panoramic views of the Arabian Gulf, thereby enhancing the overall living experience.

Siddharta Banerji, Managing Director and Co-owner of The Luxe Developers, emphasized the company’s commitment to excellence, stating, “At The Luxe Developers, we are dedicated to building unique homes that create extraordinary living experiences. Every project we undertake reflects our commitment to craftsmanship and meticulous attention to detail while pushing the boundaries of design. Our vision is to redefine exclusivity and transform spaces into architectural landmarks that endure.”

As the Oceano development progresses, it is set to not only redefine luxury living in Dubai but also contribute to the overall vibrancy of the real estate market on Al Marjan Island, attracting attention from potential buyers and investors alike.

Dubai Land Department Collaborates with Digital Dubai to Enhance Real Estate Transparency

Dubai has made significant strides in improving transparency in its real estate sector through a new strategic partnership between the Dubai Land Department (DLD) and Digital Dubai. This collaboration aims to develop advanced data systems to monitor property prices, benefitting investors, developers, and buyers by providing reliable market insights.

The initiative reflects Dubai’s broader vision to strengthen confidence in key industries, particularly real estate, which contributed 7.5% to the emirate’s GDP in 2023. The partnership will introduce specialized indicators to track both residential and commercial property prices, enabling stakeholders to make informed decisions in a rapidly evolving market.

Hamad Obaid Al Mansoori, Director General of Digital Dubai, emphasized that this collaboration is crucial for digitizing various sectors and enhancing their economic contributions. He highlighted that the partnership will deliver solutions that stimulate market activity and attract further investment.

His Excellency Eng. Marwan Ahmed Bin Ghalita, Director General of DLD, noted the importance of accurate market indexes in helping decision-makers and investors plan effectively for the future. This partnership comes at a time when Dubai’s real estate sector is gaining global recognition, being the only property market in the Middle East and North Africa classified as ‘Transparent’ in the 2024 Global Real Estate Transparency Index, ranked 28th worldwide.

Furthermore, the integration of cutting-edge technologies like AI, blockchain, and data analytics into real estate practices aligns with Dubai’s ongoing digital transformation efforts. Recent statistics show positive growth in the residential real estate price index for Q2 2024, reflecting a 2.93% increase overall, driven by strong investor confidence.

This strategic partnership between Digital Dubai and the Dubai Land Department is a significant step toward a more transparent and data-driven real estate market, enabling stakeholders to capitalize on emerging trends and opportunities.

 

Fadie Musallet: A Philanthropic Force and Entrepreneurial Innovator in Dubai

Fadie Musallet, popularly known as “FadieCakes,” is a distinguished Palestinian-American entrepreneur and socialite who has carved out a notable presence in the vibrant city of Dubai. With roots in Florida, Musallet is renowned for his exceptional networking skills, successfully connecting with high-profile figures across various sectors, particularly in sports and entertainment. Celebrities such as Jay-Z, LeBron James, and Kevin Hart have crossed paths with him, underscoring his significant influence within elite circles.

A significant aspect of Musallet’s work is his philanthropic initiative, The Giving Family. This charity is dedicated to providing meals and essential support to underprivileged communities, particularly during Ramadan. Last year, The Giving Family distributed over 150,000 Iftar meals to blue-collar workers, highlighting Musallet’s commitment to social responsibility and community welfare. His bold mission aims to reach even greater heights, with aspirations to distribute over 500,000 meals in the future. He is actively seeking partnerships with organizations such as the United Nations and the Palestinian Children’s Relief Fund to expand the charity’s global reach.

Fadie’s entrepreneurial spirit was showcased during the COVID-19 pandemic when he organized the record-breaking concert “Kiss 2020 Goodbye,” which set two Guinness World Records. This remarkable achievement came amidst a global crisis, illustrating his resilience and creativity in the face of adversity. Musallet’s ability to pivot and innovate under challenging circumstances has cemented his reputation as a leading figure in the entertainment industry.

 

What sets Fadie apart is his philosophy of prioritizing the success of others over seeking personal fame. Throughout his career, he has focused on being a connector, helping people realize their dreams rather than seeking credit for himself. This approach has shaped his successful ventures, providing him with a deep sense of fulfillment as he brings joy and opportunities to others.

In addition to his professional endeavors, Musallet maintains a disciplined lifestyle, starting his day at 4:45 AM with spiritual practices, followed by rigorous workouts. He believes in the importance of balance, viewing work not merely as a job but as an integral part of life. His mantra—never regret what you do, but regret what you don’t—guides his actions, inspiring him to embrace opportunities as they arise.

Fadie Musallet also gained widespread recognition by appearing on the reality series Dubai Bling, which showcases the luxurious lifestyles and high-profile connections of Dubai’s elite. His charismatic presence on the show has further solidified his status as a prominent figure in the city’s social landscape.

With a degree in sports management from Florida State University, where he was part of the national championship football team, Musallet possesses a strong educational foundation that complements his business acumen. His ability to navigate the worlds of sports, entertainment, and philanthropy exemplifies how one can blend diverse interests into a successful career.

As a key figure in Dubai’s social and philanthropic landscape, Fadie Musallet continues to make a lasting impact through his entrepreneurial endeavors and charitable efforts. With aspirations to further the reach of The Giving Family and attract more top talent to the region, his future looks bright as he works to uplift his community and inspire others to contribute to the greater good. Fadie Musallet’s journey illustrates that true success is not solely measured by personal achievements, but also by the positive influence one has on the lives of others.