New projects |
JULY 2009 |
 |
|
It’s at the forefront of developments in property, hospitality and tourism but now Dubai is also raising its profile in the world of science and knowledge.
On July 25, DubaiSat-1 will soar into space. The emirate’s first satellite project aims to encourage research in a number of industries and has been launched by the Dubai government aboard a Russian Dniepr rocket to provide images as it orbits the earth.
Costing the government £31m, the satellite was designed and created by The Emirates Institution for Advanced Science and Technology (EIAST), ad the images it sends back to earth will help with urban development, telecommunications, transportation, environment and agriculture.
According to director-general at EIAST, Ahmad Al Mansouri, in the future, the information collected from the satellite could be available for commercial use.
More info: DubaiSat-1
Andrew Delport, chief operating officer of gowealthy.com has suggested that landlords in Dubai may soon be offering incentives such as free relocation and discount vouchers for furniture and electronic goods, in an attempt to attract tenants.
Delport said his company has exclusively secured seven portfolios of 650 apartments in Dubai. “We are trying to convince landlords to consider rent-free periods at the end of leases of three to five years”, he said. “We believe in the current market landlords will have to consider this”.
“They will also have to consider contributing towards or paying in full the cost of fitting out a building to suit tenant needs.”
More info: gowealthy.com
The UAE has put together a new unit with the task of gathering regular consumer price information and publishing monthly data on inflation. The International Monetary Fund (IMF) recommended the measure after the emirate’s first monthly inflation figures were announced – putting the rate at 4.94 per cent. The consumer price index is also now to be based on 2007 instead of 2000.
According to one banker in the region: “This is a very positive development. Publishing monthly inflation data will serve consumers and help investors. It will also ensure better and sound planning by UAE policymakers.”
More info: International Monetary Fund (IMF)
