• Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, inaugurates the regional headquarters of technology and social media company Meta at Dubai Internet City. All photos: Dubai Media Office Twitter
    Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, inaugurates the regional headquarters of technology and social media company Meta at Dubai Internet City. All photos: Dubai Media Office Twitter
  • Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said the presence of Meta, which owns social media brands such as Facebook and Instagram, reflected Dubai's status as a centre for global business.
    Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said the presence of Meta, which owns social media brands such as Facebook and Instagram, reflected Dubai's status as a centre for global business.
  • Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, visited the complex that will lead Meta's operations in the Middle East and North Africa. More than 100 people will be employed there.
    Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, visited the complex that will lead Meta's operations in the Middle East and North Africa. More than 100 people will be employed there.
  • Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, heard from Meta executives that the UAE's culture of innovation matched the company's vision.
    Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, heard from Meta executives that the UAE's culture of innovation matched the company's vision.
  • As Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, opened Meta's offices in Dubai Internet City, officials said Dubai's leadership enabled a business environment that attracted some of the world's most prestigious companies to the UAE.
    As Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, opened Meta's offices in Dubai Internet City, officials said Dubai's leadership enabled a business environment that attracted some of the world's most prestigious companies to the UAE.
  • The visit by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, to Meta's headquarters in Dubai Internet City was hailed as an inaugural step in the company's efforts to build the metaverse.
    The visit by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, to Meta's headquarters in Dubai Internet City was hailed as an inaugural step in the company's efforts to build the metaverse.
  • Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, studies Meta's distinctive branding during his inaugural visit to the company's Mena headquarters in Dubai Internet City.
    Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, studies Meta's distinctive branding during his inaugural visit to the company's Mena headquarters in Dubai Internet City.

Sheikh Hamdan opens Meta's new regional headquarters in Dubai


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Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, opened Facebook operator Meta's new regional headquarters in Dubai on Tuesday.

He said the establishment of the base in Dubai Internet City reflected the emirate's growth as a global business hub.

He hailed the latest addition to Dubai's roster of major firms as further evidence of the desire of the world's largest technological companies to do business in Dubai.

The inauguration was attended by Sheryl Sandberg, chief operating officer of Meta.

The new headquarters will serve the Middle East and North Africa (Mena) region and will house more than 100 employees.

"Dubai continues to consolidate its partnerships with global technology players as part of its ambitious vision to shape the future," Sheikh Hamdan wrote on Twitter.

"From its new base in Dubai, Meta will serve its markets in the Middle East and North Africa region and support three billion users of its platforms worldwide."

Sheikh Hamdan was joined on his tour by Omar Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, Mohamed Al Hussaini, Minister of State for Financial Affairs; Helal Saeed Al Marri, director general of Dubai’s Department of Economy and Tourism, Ahmad Abdullah bin Byat, vice chairman of the board of Dubai Chamber of Digital Economy, and Malek Al Malek, director general of Dubai Development Authority and group chief executive of Tecom Group.

“Our leadership’s vision to cement an enabling and competitive business environment has attracted some of the world’s leading players to Dubai, especially in the technology sector, and enabled them to expand in the region and beyond," Mr Al Malek said.

"Our group’s business districts including Dubai Internet City have been at the forefront of efforts to deliver on this vision and the cornerstone of the region’s economic growth and digital transformation journey for the past two decades by providing a world-class ecosystem that attracted a pool of 95,000 best-in-class talent.

"Meta has been part of this journey for the past decade. It is rewarding to see their growth and expansion across the region, as it demonstrates the region’s potential and growing demand for innovation and advanced technologies."

Sheryl Sandberg said the UAE's "culture of innovation" matched Meta's ambitious vision.

"This office represents our commitment to the millions of people who use our platforms to express themselves, stay connected to their loved ones and their communities, and start and grow businesses," she said.

"There is a culture of innovation in the UAE that fits with the spirit of our company. We share an excitement about the economic and social opportunities that a connected world can create. The talent and creativity of people across the region will be crucial as we embark on the next chapter for our company – helping to build the metaverse.

"It is no coincidence that we selected March 8 for our office opening. We chose to do it on International Women’s Day as a sign of our continued commitment to empowering women, here in Dubai and around the world.”

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Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Updated: March 08, 2022, 4:31 PM