Saudi Arabia is undergoing a major economic transformation in line with its overarching Vision 2030 strategy, which also involves creating a better quality of life for residents, attracting more tourists and developing a more diverse and future-focused economy.
The kingdom has announced a host of ambitious new projects to support its plans, such as Neom and the Red Sea Project, which in turn have created hundreds of thousands of jobs.
Here's a rundown of the megaprojects in store for Saudi Arabia:
Neom
This is arguably the most eye-catching of Saudi Arabia's megaprojects.
Located in the north-west of the country, the zone spans 26,500 square kilometres. Designed as a futuristic smart city, which will be powered by clean energy and have no cars or carbon emissions, it has various attractions under its umbrella.
The $500 billion giga-project will be treated as a country within a country, with its own economic zone and its own authority, meaning it will be separate from the rules that govern the rest of the kingdom.
People living there would not be referred to as Saudis but would be called by the title “Neomians”, and the development is planned to have millions of residents by 2030, the project’s head of tourism Andrew McEvoy told The National in May.
There are plans to establish a network of airports in Neom that will include an international hub. The first, called Neom Bay Airport in the northern region of Sharma, has already opened and is being used by investors and on-site employees.
A $5bn partnership with Acwa Power and Air Products in the US was signed to develop the world's largest green hydrogen and green ammonia plant, scheduled to be operational in 2025.
The Line
Set within Neom, The Line is an extraordinary project which consists of a 170km-long skyscraper that is 200 metres wide and more than 300 metres tall. It is projected to provide homes for nine million people.
The structures will be connected by walkways and a high-speed train will run beneath.
Saudi Crown Prince Mohammed bin Salman said The Line would “embody how urban communities will be in the future”.
“The idea of layering city functions vertically, giving people possibility of moving seamlessly in three dimensions to access them, is a concept referred to as Zero Gravity Urbanism,” he said.
The entire 170km will be free of cars and streets, with the city set to be completely carbon neutral.
Oxagon
Also set within Neom, this is a futuristic industrial city set in the sea, and is planned to be the largest floating industrial complex in the world.
Its industrial development plan will focus on seven sectors — sustainable energy, autonomous mobility, water innovation, sustainable food production, health and well-being, modern methods of construction and technology and digital manufacturing, including telecoms, space technology and robotics.
"Oxagon will contribute to redefining the world’s approach to industrial development in the future, protecting the environment while creating jobs and growth for Neom," said Prince Mohammed.
"It will contribute to Saudi Arabia’s regional trade and commerce and support, creating a new focal point for global trade flows. This new city, built around innovative new industries, has started its development and we look forward to the city’s rapid expansion."
Trojena
Another development coming up inside Neom, Trojena will cater more to tourism.
The mountain tourist destination will be the first major outdoor skiing site in the GCC.
It will include six districts: Gateway, Discover, Valley, Explore, Relax and Fun.
Journeys to Trojena will begin in The Vault — a futuristic vertical village nestled within the mountains where, according to developers, advanced architecture and technology “integrates reality with the virtual world”.
As well as winter sports, Trojena will have a nature reserve, hiking routes, mountain biking trails and water sports that will take place on a sprawling man-made freshwater lake.
Prince Mohammed bin Salman Non Profit City
Announced late last year, the development will house venture capital companies and investors who will support and incubate talent and businesses to drive community contributions from around the world.
“Prince Mohammed bin Salman Non Profit City will host academies, colleges, ‘Misk schools’, a conference centre, a science museum, and a creative centre offering a space to support the ambitions of innovators in sciences and new generation technology such as AI [artificial intelligence], IoT [Internet of Things] and robotics,” Prince Mohammed said.
The city is near Wadi Hanifa, on an area estimated to be about 3.4 square kilometres in Riyadh province.
The general master-plan includes residential areas with 500 villas and town houses, as well as 6,000 apartments with multiple floor plans, accommodating about 18,000 residents.
Qiddiya
Being built on the outskirts of the Riyadh, this project is all about entertainment.
It includes a Six Flags theme park, a golf course and an arts complex.
Qiddiya Investment Company in February awarded a contract worth 2.8 billion Saudi riyals ($746.6 million) to a joint venture of Alec Saudi Arabia Engineering and Contracting and El Seif Engineering Contracting for the construction of the kingdom’s first and the region’s largest water theme park.
The park will sit on 22.5 hectares of land and will be home to 22 rides and attractions — including nine that will be "world firsts". It will span nine zones, inspired by animals that inhabit the areas around Qiddiya.
Some of the rides have been designed to use 75 per cent less water compared with the more conventional offerings at other water parks.
By 2030, Qiddiya hopes to draw up to 17 million visitors annually.
Red Sea Project
A key element of Saudi Arabia's tourism drive, the Red Sea Project has had billions of riyals worth of contracts awarded as it pushes ahead with construction.
The project will comprise 50 resorts, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites.
The destination also features mountain canyons, dormant volcanoes and ancient cultural and heritage sites.
The project is expected to generate 22bn riyals of revenue annually by 2030 and 464bn riyals in cumulative revenue through its construction cycle and its 10 years of steady operation by 2040, according to The Red Sea Development Company's inaugural sustainability report.
It is also expected to support 70,000 jobs by 2040.
Phase one of the Red Sea Project is due to be delivered by the end of 2023, with phase two to include the development of four or five additional islands.
The Red Sea Development Company in May said it was evaluating locations and types of experiences that will be complementary to phase one, with decisions to be made by the end of the year.
Meanwhile, the tourism destination's dedicated airport is “virtually done” on the airside and the first phase is expected to welcome passengers early next year, officials said.
Amaala
This luxury development on Saudi Arabia’s north-western coast will border Neom and the Red Sea Project and is another key part of the kingdom's tourism drive.
The development will add 2,500 hotel rooms and 700 private residential villas, along with a retail area featuring 200 outlets.
It will have a Triple Bay Yacht Club in the Prince Mohammed bin Salman Nature Reserve designed after traditional Arabian houses, with a smooth white exterior and a palette of natural and locally sourced materials, such as stone, timber and leather.
“We anticipate that Amaala will become an international hub for luxury yachting, and as such, the yacht club required a world-class design, influenced by the surrounding natural elements and Arabic heritage, and underpinned by our commitment to sustainability," said John Pagano, chief executive of Amaala.
Saudi Arabia last year merged the two government-owned developers owned by sovereign wealth fund, the Public Investment Fund — The Red Sea Development Company and Amaala — into a single entity to cut costs and boost synergies.
Ad Diriyah
Located on the outskirts of Riyadh and the site of the first Saudi Arabian state, Ad Diriyah is regarded as a heritage jewel.
The $17bn development will encompass several luxury resorts, including major international hotel brands. It is being transformed into an educational, cultural, recreational and hospitality centre.
Diriyah Gate I will feature 18 hotels within the mixed-use traditional urban community that is to be created in an authentic Najdi architectural style, typical of the kingdom's villages, using the same mud bricks and plaster used centuries ago, while providing modern amenities.
Diriyah Gate II is envisioned as a Parisian-scale, pedestrian-focused, mixed-use development with all the cultural entertainment assets, while Diriyah Gate 3 will have a huge residential aspect.
Ad Diriyah was once an ancient trade and pilgrimage route and a meeting point for those travelling to or from Asia, Africa or Europe.
The $50.6bn heritage mega project is targeting 27 million domestic and international visitors by 2030.
King Salman Park
The 16 sq km park in Riyadh is scheduled to be the largest urban park in the world.
It will be a global centre for culture, arts and nature, with Islamic-themed and vertical gardens, a labyrinth and a bird and butterfly conservatory, as well as a 7.5km circular walkway and an 800,000 sq m “wadi”.
The arts section will house the Royal Arts Complex, which will have a museum, library, art studios and an auditorium.
Jeddah Tower
This project goes up — and is planned to go up a long way.
It has been labelled as the world's future tallest building, with plans for its 252 floors to reach 1km, making it taller than Burj Khalifa in Dubai.
Construction started in 2011 and was 20 per cent complete in 2017 after delays. Building slowed due to the pandemic and is reportedly about a third complete.
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Abu Dhabi World Pro 2019 remaining schedule:
Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm
Thursday April 25: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm
Friday April 26: Finals, 3-6pm
Saturday April 27: Awards ceremony, 4pm and 8pm
COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. John%20Wick%3A%20Chapter%204
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How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
Results:
5pm: Conditions (PA) Dh80,000 1,400m | Winner: AF Tahoonah, Richard Mullen (jockey), Ernst Oertel (trainer)
5.30pm: Handicap (TB) Dh90,000 1,400m | Winner: Ajwad, Gerald Avranche, Rashed Bouresly
6pm: Maiden (PA) Dh80,000 1,600m | Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinel
6.30pm: Handicap (PA) Dh80,000 1,600m | Winner: Duc De Faust, Szczepan Mazur, Younis Al Kalbani
7pm: Wathba Stallions Cup (PA) Dh70,000 2,200m | Winner: Shareef KB, Fabrice Veron, Ernst Oertel
7.30pm: Handicap (PA) Dh90,000 1,500m | Winner: Bainoona, Pat Cosgrave, Eric Lemartinel
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Fighting with My Family
Director: Stephen Merchant
Stars: Dwayne Johnson, Nick Frost, Lena Headey, Florence Pugh, Thomas Whilley, Tori Ellen Ross, Jack Lowden, Olivia Bernstone, Elroy Powell
Four stars
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EXPATS
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
In 2018, the ICRC received 27,756 trace requests in the Middle East alone. The global total was 45,507.
There are 139,018 global trace requests that have not been resolved yet, 55,672 of these are in the Middle East region.
More than 540,000 individuals approached the ICRC in the Middle East asking to be reunited with missing loved ones in 2018.
The total figure for the entire world was 654,000 in 2018.
All you need to know about Formula E in Saudi Arabia
What The Saudia Ad Diriyah E-Prix
When Saturday
Where Diriyah in Saudi Arabia
What time Qualifying takes place from 11.50am UAE time through until the Super Pole session, which is due to end at 12.55pm. The race, which will last for 45 minutes, starts at 4.05pm.
Who is competing There are 22 drivers, from 11 teams, on the grid, with each vehicle run solely on electronic power.
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JERSEY INFO
Red Jersey
General Classification: worn daily, starting from Stage 2, by the leader of the General Classification by time.
Green Jersey
Points Classification: worn daily, starting from Stage 2, by the fastest sprinter, who has obtained the best positions in each stage and intermediate sprints.
White Jersey
Young Rider Classification: worn daily, starting from Stage 2, by the best young rider born after January 1, 1995 in the overall classification by time (U25).
Black Jersey
Intermediate Sprint Classification: worn daily, starting from Stage 2, by the rider who has gained the most Intermediate Sprint Points.
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
The Greatest Royal Rumble card
50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias
Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match
WWE World Heavyweight ChampionshipAJ Styles (champion) v Shinsuke Nakamura
Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe
United States Championship Jeff Hardy (champion) v Jinder Mahal
SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos
Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt
Casket match The Undertaker v Rusev
Singles match John Cena v Triple H
Cruiserweight Championship Cedric Alexander v Kalisto
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
Director: Jon Favreau
Starring: Donald Glover, Seth Rogen, John Oliver
Rating: 2 out of 5 stars
THE BIO
Favourite author - Paulo Coelho
Favourite holiday destination - Cuba
New York Times or Jordan Times? NYT is a school and JT was my practice field
Role model - My Grandfather
Dream interviewee - Che Guevara
Company profile
Name: Back to Games and Boardgame Space
Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)
Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)
Based: Dubai and Abu Dhabi
Industry: Back to Games (retail); Boardgame Space (wholesale and distribution)
Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space
Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019
Killing of Qassem Suleimani
The specs: 2018 Harley-Davidson Fat Boy
Price, base / as tested Dh97,600
Engine 1,745cc Milwaukee-Eight v-twin engine
Transmission Six-speed gearbox
Power 78hp @ 5,250rpm
Torque 145Nm @ 3,000rpm
Fuel economy, combined 5.0L / 100km (estimate)
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
