Following the directives of Sheikh Mohammed bin Rashid Al Maktoum, we adopted a series of initiatives during today's Executive Council meeting aimed at stimulating economic growth and reducing the cost of doing business in Dubai. The initiatives include the reduction or cancellation of various govt. fees. Firstly, we agreed to lower market fees imposed by Dubai Municipality on commercial entities from 5% to 2.5%, in order to preserve Dubai's distinctive investment environment on a regional and global level. In order to develop Dubai's aviation sector, we are cancelling 19 fees related to the aviation industry and to aircraft landing permits
Dubai is a global hub for the industry and our hard-won position in this sector needs to be strengthened. We also approved waiving the 4% fee for a delay in property registration imposed by the Dubai Land Department. The real estate sector is an important component of Dubai's economy and we are working to provide the best government services to both investors and developers. Finally, we ordered an immediate freeze on the tuition fees of all private schools in Dubai for the coming academic year (2018-2019), in order to reduce the financial burden on parents.
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