Space policy will be drafted for UAE



ABU DHABI // A space policy will soon be drafted as part of the country’s strategic plan for 2015-2016, it was announced on Monday. The UAE Space Agency will license all space-related companies in the country, and regulate space activities.

“Before the space agency, this wasn’t clear,” said Dr Mohammed Al Ahbabi, director general of the agency. “So if you want to license a space company, it was scattered in the past, but today the space agency will be responsible.”

The agency is working with government bodies to make proposals before the end of the year. “First we need to set policies, laws and regulations, then we need to put specific details to those regulations,” Dr Al Ahbabi said. “This includes what the steps are if you want to license a company or if you want to launch a satellite from the UAE, because with the international space community, there are some treaties that the UAE is already a signatory to and these have a legal obligation for any nation that has space activities.

“So our local laws and regulations have to be aligned with the international ones for space.”

As an example he cited the ban on siting “a ground terminal or station in your backyard and receiving content”.

Such activities will have to be regulated for the security and safety of UAE residents.

“We will also outline what the fines will be if the law were to be broken,” he said. “This is a good step and a great achievement because you need to set the right stage for any space programme.

“If you leave it unclear, there will be duplication or misuse, so it is better to align all sectors towards one goal with clear guidelines and laws to develop the sector in the most effective way.”

cmalek@thenational.ae

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.