Tag Archives: dubai investment news
Dubai consumers ‘are feeling good about the economy’
Consumers in Dubai are far more optimistic about the state of the economy than they were just a few months ago, a new study has shown.According to the Dubai Department of Economic Development's (DED's) latest Consumer Confidence Survey, 90 per cent of people living in the emirate in the first quarter of 2013 were happy that things were looking up.This was a significant improvement on the fourth quarter of 2012, when 74 per cent of survey respondents felt the economy was in good shape.In addition to this, around 95 per cent of citizens think that Dubai's gross domestic product will expand by the end of this year.Leaders at the DED believe that rising real estate prices and the booming tourism sector are two of the main factors behind this renewed sense of optimism.Indeed, 66 million tourists are expected to visit Dubai in 2013 and local businesses will obviously benefit from the influx of holidaymakers and business travellers.Encouragingly, the research also indicated that more people who live in Dubai are predicting better job opportunities in the near future. Some 87 per cent said they expect to see more job vacancies cropping up in the next 12 months.Meanwhile, 82 per cent of workers in the city rate their current job prospects as either “good” or “excellent”, which is up from 71 per cent in the fourth quarter of 2012.”The prevailing consumer sentiment in Dubai shows an increasing level of confidence in the emirate's ability to stimulate economic activity, create jobs and generate wealth,” commented director general of the DED Sami Al Qamzi.”Dubai's bold announcements of a strong commitment to development and pledge to make the emirate more attractive for investment and business is producing the desired results.”Another recent study – this time conducted by Friends Provident International – appeared to back up Mr Al Qamzi's suggestions, as it revealed that investors are increasingly seeing the UAE as a safe haven and Dubai-based property assets are in particularly high demand at the moment. Continue reading
Etihad Travel Mall unveiled in Dubai
Bosses at one of the world's leading airlines have launched a brand new one-stop travel retail and check-in facility in Dubai.The Eithad Travel Mall opened yesterday (April 18th) and it will give people the chance to book a flight ticket, drop off their baggage and then board a luxury coach to Abu Dhabi International Airport. This new state-of-the-art facility will replace the firm's previous complex at Chelsea Tower on Sheikh Zayed Road.Both Abu Dhabi and Dubai have become popular destinations among tourists and businesspeople and it is encouraging to see stronger transport links being established between the two emirates.His Highness Sheikh Ahmed Bin Saeed Al Maktoum, chairman of the Dubai Aviation Authority and Emirates Group, opened the Etihad Travel Mall during a ceremony laid on by Etihad Airways president and chief executive officer James Hogan.Mr Hogan said that as the company approaches its tenth anniversary, the future looks really bright.”Etihad Airways is set on a trajectory to go farther and to also become the world's best travel company,” he remarked.”This new facility is a demonstration of our commitment to our guests within our home market, offering a more comprehensive service with a complete one-stop location for all of their travel needs.”Etihad continues to add services from the UAE and earlier this week it confirmed that a new route between Abu Dhabi and Belgrade in Serbia would start in June 2013.These are exciting times for the country's aviation sector and Dubai International Airport's growth has been particularly impressive.It was recently declared the world-leading hub for Airbus A380 aircraft, with 7,259 scheduled double-decker flights taking off to 28 different destinations in 2012.The airport has also become the second-busiest on the planet, as more than 57.6 million passengers passed through the complex last year.Plans are now in place to significantly increase the capacity of the airport and there is every chance it will be the world's most-used aviation hub in the next few years. Continue reading
Dubai International ‘is the world’s leading A380 hub’
Dubai International Airport has been officially confirmed as the world's leading hub for A380 aircraft.The double-decker planes have revolutionised air travel and it seems that the UAE has embraced the vessels faster than any other destination across the planet.New schedule figures have shown that 7,259 of the aeroplanes left Dubai's main airport on journeys to 28 different locations in 2012 and all but 88 of these flights were laid on by Emirates Airline.Dubai International beat second-placed Singapore in the rankings and was also ahead of London's Heathrow, Frankfurt and Sydney.Chief executive officer at Dubai Airports Paul Griffiths said the recent expansion of the airport highlights its commitment to housing A380 aircraft. He suggested that the grand unveiling of the new Concourse A was a real signal of intent from Dubai International.”This new facility is purpose built for the aircraft with two-tiered gates facilitating boarding directly from the first and business class lounges,” he remarked.Although other airports, such as Charles de Gaulle in Paris, New York's JFK, Hong Kong International and Los Angeles have all facilitated an impressive number of A380 planes over the past year, Mr Griffiths feels Dubai International will continue to lead the way.”Based on Emirates' order book, the new Qantas A380 operation and our $7.8 billion expansion plan, Dubai International is well placed to continue to hold the top position for A380 operations in 2013 and beyond,” he added.Last month, the aviation hub was officially declared the second-busiest on earth, behind only Heathrow. This was based on passenger numbers from 2012 and the start of 2013.Some 10.6 million people passed through the Middle Eastern airport in the first two months of 2013, which was a 13 per cent improvement on the corresponding period in 2012.This was enough to see Dubai International overtake Charles de Gaulle in the rankings and Mr Griffiths thinks the airport is in a strong position to take the number one spot from Heathrow in a few years' time. Continue reading
