More international firms will set up shop in the United Arab Emirates, fuelling development and bolstering its status as a premier business capital.
According to speakers at an Estates Gazette and Cluttons event in Dubai this morning, a wave of new developments ahead of Expo 2020 in Dubai will position the Emirate as a prime destination for firms seeking a gateway to the wider Middle East and Africa.
More than 100 local property professionals attended the first global real estate debate.
Anita Mehra, vice president responsible for marketing and corporate communication at Dubai Airports, said the airport was expecting a major increase in passenger numbers. By 2030 more than 200m people will come into Dubai annually.
She added: “Dubai has always been a safe haven. I think you will see more and more people moving here to live and to set up businesses.”
Mehra said health and education had improved in Dubai, attracting thinkers and innovators and making it more accessible to overseas parties.
Steve Morgan, chief executive of Cluttons Middle East, said: “There is quite a lot to work to be done, but I think Dubai and the UAE are on the right track to becoming even more of a premier business district.”
Hazel Wong, chief executive of WSW Architects, said that great buildings had put Dubai on the map, but warned that new “iconic buildings need to be sustainable”.
Wong added: “There has to be more pedestrian space. Having building after building can get a bit chaotic.”
Other panellists included Khaled Ahmed, senior vice president strategy, development, at Economics Zones World, and Badr Al Gergawi, chief executive in the development and planning division of TECOM Investments. Estates Gazette editor Damian Wild chaired.
joanna.bourke@estatesgazette.com
