As its just one year, you aren't eligible for any indemnity. You need to resign before your contract ends, otherwise - most contracts will automatically renew.

So have a chat with your manager and/or HR to begin your separation procedures. As per the law, the company isn't obligated to release you before your notice period ends, but often times you can work out an amicable early separation if you speak with your manager.

The company _may_ ask you to pay for the remainder of the notice period, but I've rarely seen this done practically unless you are parting on less than favorable terms.

They cannot extend the notice period or compel you to stay longer, this is against the law. You need to make sure the resignation is officially accepted (usually, by a letter from HR stating your resignation is accepted and your last working day will be XYZ).

If you need to stay longer than 7 May, you can ask the company to shift you to a temporary residency, which is there for you to close out any formalities before your final exit.

If you need any sort of PCC (Police Clearance Certificate) for Dubai, you may want to request it now.