UAE: Dubai Articles & Analysis

Dubai saw steady GDP growth of 2.8% in 2017 and this is expected to reach 3.2% in 2018, with an increased drive towards consolidating its position as a knowledge-based economy. The emirate is among the most diversified in the region, thanks to factors such as a highly attractive business environment that has brought in large amounts of foreign investment.

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Dubai is stepping up efforts to promote the development of its small and medium-sized enterprise (SME) community, creating a new incubator to further strengthen the sector.

Construction demand in Dubai continues to be strong in the run-up to Expo 2020, supported by new tourism and hospitality projects, and public spending on infrastructure, although rising materials costs and funding constraints are exerting pressure on profit margins.

The private education sector in Dubai showed continued signs of growth in the recent academic year, although an expanding population and rising competition and prices could influence market dynamics in the short to medium term.

Local government initiatives to enhance service provision are creating opportunities for Dubai’s ICT sector, while new federal laws to attract innovators and investment should help the emirate achieve its technological objectives.

An increase in the liquids storage, bunkering and freight-handling capacity at the Port of Fujairah is expected to further strengthen the emirate’s position as a fuelling point and trans-shipment centre.

In mid-April the Dubai Land Department (DLD) issued its quarterly report on real estate transactions, which showed there had been 13,759 sales, mortgage agreements or other deals conducted in the first three months of the year.