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We are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.Read the full edition
Whilst owners of property may see short-term letting as an attractive option, particularly in terms of increasing an owner’s return through higher rental yields, they should be aware that this activity is classified as an economic activity, pursuant to Dubai Department of Economic Development licensed activity classifications. Further, such companies must be incorporated through the Department of Tourism and Commerce Marketing.
Should you require any assistance or further information on the legal ramifications of the above, or would like information on obtaining the necessary licences, please do not hesitate to contact us.
Lisa Dale, Partner
Head of Property
Head of property, Abu Dhabi
Head of Hospitality
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