Apple to open two Apple Stores in United Arab Emirates after exemption from ownership laws
The United Arab Emirates is reportedly granting Apple an exemption from foreign ownership laws, allowing it to retain full control of planned operations in the country -- including two new Apple Stores.
Apple was otherwise refusing to set up shop in the region, two sources informed Bloomberg. Although the country's monarchical government is working on a law that would permit full foreign ownership in some industries, businesses in the U.A.E. must normally be 51 percent owned by Emiratis, or a parent company completely owned by them, unless they're operating in so-called free zones.
Ahmad Al-Hosani, director of trade registration for the country's Ministry of Economy, would only tell Bloomberg that Apple was licensed "according to the requirements of, and in compliance with the Commercial Companies Law, as well as the ministerial resolution on foreign company branches."
The first Apple Store should open in Dubai later this year, the sources said, followed by a shop in Abu Dhabi. The Dubai outlet will be Apple's first in the Middle East outside of Turkey.
The U.A.E. is a small but significant market for Apple, since while there are just 17 million cellular subscribers in the region, 61 percent of them are using smartphones. In the fourth quarter of 2014, the iPhone 5s was the region's most popular phone.
Dubai in particular is an important city, with extreme wealth in some quarters and a number of foreign tourists and expats. Rumors of a Dubai Apple Store first emerged in May, pointing to a space in the Mall of the Emirates measuring a gigantic 50,000 square feet. It was also claimed that the store would open this month, however.
Apple was otherwise refusing to set up shop in the region, two sources informed Bloomberg. Although the country's monarchical government is working on a law that would permit full foreign ownership in some industries, businesses in the U.A.E. must normally be 51 percent owned by Emiratis, or a parent company completely owned by them, unless they're operating in so-called free zones.
Ahmad Al-Hosani, director of trade registration for the country's Ministry of Economy, would only tell Bloomberg that Apple was licensed "according to the requirements of, and in compliance with the Commercial Companies Law, as well as the ministerial resolution on foreign company branches."
The first Apple Store should open in Dubai later this year, the sources said, followed by a shop in Abu Dhabi. The Dubai outlet will be Apple's first in the Middle East outside of Turkey.
The U.A.E. is a small but significant market for Apple, since while there are just 17 million cellular subscribers in the region, 61 percent of them are using smartphones. In the fourth quarter of 2014, the iPhone 5s was the region's most popular phone.
Dubai in particular is an important city, with extreme wealth in some quarters and a number of foreign tourists and expats. Rumors of a Dubai Apple Store first emerged in May, pointing to a space in the Mall of the Emirates measuring a gigantic 50,000 square feet. It was also claimed that the store would open this month, however.
Comments
I mean, if it's good for the goose; it's got to be good for the gander.
Good for UAE & Apple. This is a step in the right direction for both. I really hope the GCC rethink their foreign business ownership laws.
Shoplifters will be beheaded daily.
Wow.. didn't take long.
They only cut thieves' hands off.
Well, that's much better. ¡
Shoplifters will be beheaded daily.
Wow.. didn't take long.
I think he was purely joking (right, Spam?).... a little edgy, I know....
Yes, it was obviously a joke/jab. Here's the real story in this area of the world: https://en.m.wikipedia.org/wiki/Capital_punishment_in_the_United_Arab_Emirates
I think he was purely joking (right, Spam?).... a little edgy, I know....
Yes, it was obviously a joke/jab. Here's the real story in this area of the world: https://en.m.wikipedia.org/wiki/Capital_punishment_in_the_United_Arab_Emirates
Us AI regulars (well.. I used to be) always bitch and whine about the poor quality of recent posts and how trolls keep derailing threads. Joke or not that post will only result in unnecessary replied and discussion that have nothing to do with the subject in hand. It already resulted in two posts (not counting our interaction).
Eh, it was funny. This wasn't likely to be a huge thread anyway.
Us AI regulars (well.. I used to be) always bitch and whine about the poor quality of recent posts and how trolls keep derailing threads. Joke or not that post will only result in unnecessary replied and discussion that have nothing to do with the subject in hand. It already resulted in two posts (not counting our interaction).
I don't mind occasional bits of humor and I'm also an "AI regular". The "derailing threads" view is rather subjective, isn't it? I had no intention of turning a one-off jibe into an extended political rant and I still don't. The very suggestion that Apple would be beheading customers was obviously absurd. The show's over. Move on.
Don't be ridiculous, it's only a hand cut of for the first offense!
If "Diversity" is the most important thing on the agenda; then Apple should be hiring Israeli's to manage the stores in the region. I have no doubt there are extremely qualified individuals in the region.
I mean, if it's good for the goose; it's got to be good for the gander.
One of the most asinine comments and analogies I've ever read, especially considering the ridiculous "point" you're trying to make.
If "Diversity" is the most important thing on the agenda; then Apple should be hiring Israeli's to manage the stores in the region. I have no doubt there are extremely qualified individuals in the region.
I mean, if it's good for the goose; it's got to be good for the gander.
One of the most asinine comments and analogies I've ever read, especially considering the ridiculous "point" you're trying to make.
Apple has declared that they will hire people, not based upon their capabilities (ie. what they can do); but upon their race or sex.
Apple then opens a store in a country that openly practices discrimination (ie. they don't like certain people) because of their race, or sex.
This would make Apple a "Hypocrite" (a person who does the opposite of what they say is the right thing).
It's pretty smart to forego diversity for the sake of safety.
I just don't see it as a sustainable location, especially once the oil money runs out and global weather heats up.
The black wall is already up at Mall of the Emirates. I was there the other day and I can confirm the photo by 7Days.ae.
http://7days.ae/have-we-found-the-apple-store-in-the-uae
The store does not look that big but it is extremely deep. It's still not finished yet so I believe it will open in September or October. Apple will likely mention it during the September keynote.