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Dubai International Airport ‘will remain a top priority’
Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has insisted that the expansion of the city's main airport will continue to remain a priority.The UAE prime minister recently visited the aviation facility and he was happy with the work that has taken place in Terminal 2.Once the new hall opens on April 29th, the state-of-the-art terminal will be capable of accommodating 7.5 million passengers a year.More than 57.6 million people passed through the airport last year and this figure is expected to rise to 66 million in 2013. The overall capacity of the airport has increased to 75 million passengers per year and it is predicted to be the busiest aviation hub on earth in the next few years if current rates of expansion persist.Mr Al Maktoum was quoted by the WAM news agency as saying that Dubai International “represents the face of the country and is the symbol of its culture and progress”.He also paid a visit to the Dubai Airport Free Zone (DAFZA), which continues to attract scores of influential investors.The facility was first established in 1996 as part of the government's plans to move the city towards an investment driven economy and it is now home to more than 1,600 companies from a range of sectors, including freight and logistics, IT and aviation.There are many incentives for firms to set up a base in the DAFZA, as they receive 100 per cent exemption from corporate tax, import and export duty and personal income tax. This perhaps explains why so much money has been poured into the area in the past 17 years.Mr Al Maktoum toured a number of the buildings that have sprung up throughout the free zone and he was clearly very impressed with what he saw.”The success achieved by the DAFZA is a first step forward for more progress in the way of excellence that we thrive,” he added. Continue reading
RTA plans better transport links between Dubai and Sharjah
Dubai's Road and Transport Authority (RTA) is said to be planning new water buses that will link the city with the neighbouring emirate of Sharjah.Speaking to the Khaleej Times, chief executive officer of Public Transport Agency at the RTA Dr Yousif Mohammed Al Ali said some feasibility studies are being carried out.Although Sharjah is less than 20 km away from Dubai, the main road that links the two cities can become quite congested and journey times rise significantly during peak periods.Both emirates are based on the coast, so it should be easy enough to put on boat services between the destinations, which will help to relieve some of the strain on the road network.The need for new modes of public transport has become more pressing, as experts believe that Dubai's population will continue to grow sharply in the coming years.”Currently, there are inter-city buses connecting Dubai and Sharjah and we see no reason why there would be no possibility of developing marine transport on similar lines,” Mr Al Ali was quoted as saying.”It is part of the RTA masterplan to improve the public transport network and develop the different modes of transportation. However, it would be too early to announce a date when any new routes would take effect,” he continued.The UAE's transport infrastructure has coped remarkably well with the huge number of people moving to Dubai and other parts of the country in recent years.Airports in Abu Dhabi, Dubai and Ras al Khaimah have all been very busy and air links between different emirates have improved considerably.In Dubai itself, there have been talks of a major expansion of the already-impressive Metro network, which connects numerous important business districts and other popular points of interest with residential areas.The RTA is very ambitious and its future plans will undoubtedly make the emirate even more attractive to investors and people who are considering relocating to the Middle East on a permanent basis. Continue reading
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
