The modern mega polis, Dubai, has become a member of the three cities of the world – leaders for entrepreneurship. Dubai is the most sought-after city for business set up and development after London and San-Francisco. The study of the international company Jones Lang LaSalle confirms just that.
The experts of this consultancy company assure that the economy of the Emirates has long ago recovered from the recession and shows an active and dynamic growth. The evaluation of the economic indicators of the crisis period shows that the increase of the average property price in the United Arab Emirates has positively reflected on the whole market situation in the country in the last years.
The recognition and trust of the international business society
The geographic location, being a junction of the trading streams and the active government policy in developing international business relations are main advantages chosen by the experts amongst other advantages of Dubai. The effective international relations and the status of the largest trade center in the Middle East have ensured Dubai city the most significant event in the world, The World EXPO 2020 exhibition.
All this, by and large, has gained trust from the foreign investors and the world business society.
This kind of potential investors relations helps forecast and expect new investment projects. The Dubai city has already proven to the whole world, that it can adjust to and gain from the market conditions in the shortest possible time. The city’s authorities continue to develop infrastructure and incorporate new innovative technologies in the very different projects.
The results of the study made by John Lang LaSalle determined the most business-attractive cities in the world. The given study had been prepared for the World Economic Forum in Davos. The cities rated, were the ones showing positive dynamics and growth of the social and economic indicators.
The following indicators have been considered among others:
- Level of social security and protection of business.
- Existing opportunities and perspectives for business development.
- Level of local property market condition.
Dubai has entered the rating of the first five, sharing the superiority with New York, Shanghai and San Jose. The conducted survey has once again confirmed that Dubai represents the major international business center and is very attractive for business.
The international analysts have noted that there are unique and wide opportunities for potential foreign investors. It must be noted, that in the course of the study, the GDP increase was not the only indicator that was considered, but the visual aspect of the city as well. The basis of the analysis included the incorporation of the innovative technologies, business processes modernization and provision of safe and comfortable business conditions.
The development dynamics
Dubai can boast the positive dynamics of the property market. The experts suggest positive forecasts in the shortest perspective and suggest that all prerequisites are created for further economic and social success.
Based on the experts suggestion from the international consulting agency, the dynamics of development and the success of the modern megapolises cannot be determined exclusively upon the GDP indicator. They suggest that the success depends on many factors exerting a certain influence.
The main factors are below:
- The attraction of foreign investors to the local market.
- Guaranteed business protection at legal level.
- Stable price dynamics for commercial property.
- Availability of new city buildings.
- Provision of opportunities for business etc.
The experts suggest that only combination of the aforementioned factors and their successful realization will help achieve the real outstanding success.
The results of the study and Dubai’s example helps to conclude, that the local property market has got a significant meaning for the economy and its perspectives for further development.
Amongst the competitive advantages of Dubai, the experts have singled out the dynamic development of the city’s infrastructure, incorporation of the innovative technologies and the establishment of modern communications and engineering networks. The combination of the mentioned factors has ensured a high level of investment attraction of Dubai in the whole world.
Other positions in the world rating
The Dubai city has been marked in the following categories of the international rating:
- Popular world cities having a flourishing economy.
- Cities, where market enlivenment is linked to the running of international events.
- Cities which have the modern technological centers.
The experts also have marked Dubai’s positive dynamics in the short-term and long-term market indicators, amongst those are:
- The volumes of cargo and passengers transportations.
- The presence of branches and headquarters of major international companies and holding companies.
- The occupancy of the existing office and trade spaces.
- The construction pace of commercial and residential property.
Thus, Dubai has once again confirmed its status as major and significant business hub.
The dynamics of Dubai is apparent and raises no doubts. The government creates the most auspicious conditions for living, working and leisure. The country implements the most up-to-date economy experience which provides the ideal environment and conditions for business set-up and great opportunities for development of various business projects.
Every year, the government enacts laws which stimulate the influx of new ideas and investment of capitals. To summarize – the business in the Emirates helps decrease production expenses and other expenses due to the inexpensive resources and tax benefit and provides great prospective for business growth.