Dubai has been nominated the third world’s most dynamic city behind San Francisco and London according to the research made by consulting company Jones Lang LaSelle while going ahead of megalopolises such as New York, Singapore and Hong Kong.
The index is mainly measured by short-term (next three years) pulse of urban development in the real estate sector – combined indicators of urban development prospects for the longer term ( there are important factors of stable growth in an economy based on scientific knowledge and innovation , the so-called high – value incubators). It is not only simple calculation of GDP growth, the high speed of innovation and advanced new technologies, the creation of promising areas for business, construction of new buildings, the dynamics of real estate prices and, finally, investment in real estate by foreign investors and companies.
Among ranking of 111 world’s most dynamic cities, the Dubai has been awarded for demonstration of positive socio-economic dynamics and growth of the commercial property market in the short term, and also having a solid foundation for long-term success.
Dubai has been also voted for the name of so-called "elite city" accounted for 25% of total global direct investment in commercial real estate sector in the period 2012-2013.
The report provided by Jones Lang LaSalle states that Dubai was able to take such a high place in ranking due to the fact of winning the World Exhibition Expo 2020 as well as maintaining a strong position of most dynamic city amongst Middle East countries whilst becoming center of new technologies that offers favorable environment of innovation and future business attraction in the region.
Recently, Dubai Land Department announced the total value of real estate transactions expected to be risen by 54% worth of AED 236 billion compared to AED 154 billion in 2012. In 2014, Dubai expected further growth of real estate market from 10 to 15 per cent as a result of significant improvement of economic situation in the country followed by an increase inflow of new and developing foreign companies.