Dubai news |
JULY 2009 |
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Wise investment in infrastructure and plants has paved the way for Dubai’s industrial sector to weather the worst of the current economic downturn as it has allowed them to become a major contributor to the emirate’s economy. Industrial output currently represents around 16% of Dubai’s GDP and its present contribution is roughly comparable to the real estate sector, according to recent figures released by the Dubai Statistics Centre.
More info: Dubai Statistics Centre
Good news for the Dubai property market as it’s set to witness the first green shoots of recovery sometime between the end of this year and the second quarter of 2010, according to a panel of industry experts speaking at last month’s Cityscape Connect business breakfast. “Industry sentiment has moved into positive territory and it is equally important that Cityscape continues to provide a platform for open debate,” said Rohan Marwaha, MD of Cityscape.
More info: Cityscape
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has ordered government departments in the emirate not to increase fees for trade and professional licences, licences for business promotions and property ownership certificates among others. For those fees which will still need to be collected, the Dubai government will consider instalment payment options. Overall the new measures are being praised as an attempt to enhance economic competitiveness which will benefit the emirate in the long term.
More info: His Highness Sheikh Mohammed bin Rashid Al Maktoum
