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Mayor of London heads to Dubai
Mayor of London Boris Johnson has reiterated just how important it is for the UK to maintain its strong business links with the UAE.Mr Johnson landed in the Gulf on Sunday (April 14th) and he will complete a five-day tour of the Middle East, in which he is scheduled to visit Abu Dhabi and Dubai.He will attend a number of high-profile meetings with political, state and business leaders during his stay and he will also discuss a number of issues with Arabian royalty.The Gulf is already the UK's seventh largest export market and Mr Johnson is keen to cement the countries' positive relationship. It goes without saying that the UAE has emerged as a crucial corporate hub and the nation's gross domestic product is expected to rise over the next few years – strengthening its position even further.During the Dubai leg of the trade mission, Mr Johnson will attempt to forge links between Dubai Internet City – which is the largest technology park in the Middle East – and London's Tech City.Dubai Internet City has grown rapidly in recent years and has managed to attract some of the biggest companies in the world, including Facebook, Microsoft, Google, Cisco and LinkedIn.With this in mind, it is no wonder that the London mayor has recognised the importance of the facility.”With strong historic ties in place, we already have fruitful trading partnerships between the Gulf and this city notably in finance, infrastructure, tourism, education and culture,” Mr Johnson remarked.”The Gulf's economy continues to grow fast and we cannot be complacent in what is now a fiercely competitive global economy.”Mr Johnson's visit to the Middle East will be interrupted by the funeral of Baroness Thatcher and he is expected to return to the Gulf on Thursday. The second part of his trip will see him head to Qatar.The fact that the mayor of one of the most influential cities on earth is so keen to maintain a partnership with Dubai is testament to just how far the emirate has come. It is easy to forget that it was just a sleepy little fishing town only a few decades ago. Continue reading
Second date added for Justin Bieber concert in Dubai
Justin Bieber is set to perform twice in Dubai next month due to overwhelming demand from fans of the teenage pop megastar.A second concert at the Dubai Sevens Stadium has been announced for Sunday May 5th, with Bieber already due to appear at the venue for his first ever performance in the Middle East on Saturday May 4th. Tickets for the first date sold out rapidly when they went on sale in September 2012.Promoter Done Events confirmed that the huge level of interest from fans in Dubai had made the second show a necessity.”We are very excited that Justin Bieber has agreed to extend his Dubai stay by another day to help fulfil the dreams of more regional fans,” said Thomas Ovesen, chief operating officer of Done Events.”Adding a second show to his first ever Middle East visit gives Justin Bieber and our team another great opportunity to accommodate the huge demand from Middle East fans,” he added.Tickets for the concert are now on sale, priced at AED 350 (£62). The 19-year-old Canadian singer is currently on the European leg of his Believe world tour, which is also due to reach venues in South Africa, China and North America.Confirmation of Bieber's second Dubai appearance in May was welcomed by Laila Suhail, chief executive of the Dubai Events and Promotions Establishment, who suggested the city's status as a major international concert venue is growing.”2013 has begun with a series of high-profile acts performing in Dubai. Adding a second Justin Bieber concert is further demonstration of our reputation as a leading events destination,” she said.Other music stars who have played live at venues in Dubai so far this year include legendary Guns N' Roses guitarist Slash, reformed British band the Stone Roses and Band Aid founder Bob Geldof. Continue reading
Office rent upturn highlights strength of Dubai’s property sector
The demand for office space in Dubai has risen so sharply in recent months that landlords have been able to bump up their rent.A new study by Jones Lang LaSalle (JLL) has shown that the tricky commercial real estate market finally showed signs of life in the first quarter of the year.While the residential property sector has been going from strength to strength in the past year, the clamour for office space has not been anywhere near as intense, but this appears to be changing.For the first time since mid-2008, all sectors of the emirate's property industry are well positioned and the future seems to be bright.Chief executive of JLL Alan Robertson is hoping to see a period of slower and more manageable growth than in previous years.”For some months now, we have seen sustained confidence in the Dubai real estate market, although it remains selective with the best performance focused on high quality assets in prime locations,” he remarked.According to the REIDIN general Residential Sale Index residential property sales increased by 18 per cent in the first quarter of 2013 when compared with the corresponding period in 2012.As ever, it is the higher end of Dubai's property market that is attracting the most attention. The demand for villas and luxurious apartments in areas like Burj Downtown, Dubai Marina and Palm Jumeirah soared between January and March.Craig Plumb, head of research for JLL in the Middle East and North Africa region, believes Dubai's economy will continue to expand and foreign investors will see the city as an increasingly appealing place to secure new assets.”Dubai could even benefit from the continued uncertainties in the eurozone which may lead to a transfer of capital into the Dubai real estate market, given its safe haven status and attractiveness to offshore investors,” he commented.Around 28,000 new properties are expected to be built by the end of this year, which means investors will have plenty of excellent buildings to choose from when they scour the UAE market.Click here for your free property investment guide Continue reading
