More than 100,000 fake Adidas shoes and clothes worth Dh2m were seized by Sharjah Police this year.
The 100,539 items were confiscated from different shops around the emirate throughout the year, according to Salim Al Suwaidi, deputy director of control and protection at Sharjah Economic Development Department.
Mr Al Suwaidi said raids – which are carried out by commercial officers in the Commercial Control and Protection Department - are frequently conducted to ensure the safety and quality of products being sold.
"We aim through this to ensure the safety of all economic practices in the markets, spread awareness among traders and consumers, combat all manifestations of commercial fraud, and reduce the negative practices that may be resorted to by some traders," he said.
In a statement, Adidas said that the seizing of the fake products showed the country's determination to protect the loyalty of key customers and partners.
Roll of honour 2019-2020
Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain
West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership
UAE Premiership
Winners: Dubai Exiles
Runners up: Dubai Hurricanes
UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II
UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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
