Tag Archives: exclusive
Real estate upturn is boosting trade in Dubai
Leaders of Dubai Customs believe the recent upturn in activity in the city's real estate market is helping to drive trade with other countries.Director general of the organisation Ahmed Butti told the Financial Times the emirate's thriving property industry – coupled with continued success in tourism and aviation – has strengthened Dubai's overall economy.He expects to see further growth of between 14 and 15 per cent by the end of the year and it seems that all sectors are performing well.”We can see real estate again driving growth and companies still come to Dubai as a base to cater to other parts of the region,” he told the news provider.Non-oil trade rose by 13 per cent in 2012 and there has also been a significant upturn in the amount of gold and diamonds being sold through Dubai.In the past, Dubai has done a lot of business with Iran, but trade between the two fell by around a third in 2012. This is partly because Iran's currency has dropped in value.However, Dubai is no longer reliant on its links with Iran and has established closer ties with major economic powers like India and China.Meanwhile, trade with Africa rose by 27 per cent last year and there was also a 28 per cent upturn in business between Dubai and its neighbouring Arab states.Mr Butti insisted the emirate is in a good position to respond to market needs.”Dubai is a big supermarket which caters to the region. We are traders – we trade whatever will bring business,” he was quoted as saying.The recovery of Dubai's property market in the past 12 months has indeed been astonishing and there are signs that 2013 could be a vintage year for real estate investment in this part of the UAE.Last month, the Dubai Land Department revealed the value of real estate transactions increased by 63 per cent in the first quarter of 2013 when compared with the corresponding period in 2012.Looking for apartments in Dubai? The First Group can help you out Continue reading
Lufthansa plans to increase Dubai flight capacity
Bosses at major German airline Lufthansa have hinted that the company could increase the capacity of its services between Europe and Dubai.The UAE is an increasingly popular tourism destination and is also an international business hub, so it is hardly surprising that the demand for flights to the Gulf has risen sharply among the German population.Carsten Schaeffer, Lufthansa's vice president of sales and services for south-east Europe, Middle East and Africa, said the company plans to up the volume of services to Dubai by 20 per cent this summer.He told the Khaleej Times that the extra flights will most probably leave from Frankfurt – which is one of the busiest airports in the world.”We might fly double-daily from Frankfurt to Dubai. So this is really a step up [in] the way we work,” Mr Schaeffer was quoted as saying.”In the UAE, we are in the phase of bringing in bigger aircraft and in Saudi Arabia, we are bringing in more frequencies.”He added that the Middle East is an important market and the firm's network will expand in this part of the world in the coming years.Lufthansa currently flies to Dubai from Frankfurt, Munich, Zurich and Vienna, while Emirates Airline – which is based in the UAE city – travels to four destinations in Germany.Dubai International Airport has grown in stature in recent years and is now the second busiest aviation hub on earth. Much of this rapid improvement has been down to the increasing number of European routes being added by UAE-based airlines.Indeed, Dubai Airports revealed last month that the biggest upturn in passenger numbers in March came from western Europe, as Emirates and flydubai introduced new services.There was also a 67.9 per cent rise in traffic from eastern Europe year-on-year during the month, thanks mainly to newly-established links to places like Poland and Macedonia. With the likes of Lufthansa planning to increase their presence in the UAE, it seems to be just a matter of time before Dubai International overtakes London's Heathrow as the busiest airport in the world. Continue reading
Dubai is the destination of choice for oil and gas workers
Oil and gas professionals from around the world still see Dubai as the best place to work.A new study by Rigzone has indicated that Dubai tops the list of cities with the brightest future, followed by Calgary, Denver, Singapore and Jakarta.The organisation asked 8,000 oil and gas professionals where they saw the best investment potential and it is clear that the UAE is the place to be.Of course, there are lots of things that need to be considered when moving to another country, especially for people who specialise in such a demanding and high-powered industry.Rigzone president Paul Caplan highlighted a few of the factors that oil rig and gas field workers need to think about.”Work-life balance continues to be a dominant theme. Energy professionals know there's a lot of hours put in, but there are just as many opportunities for extended time off,” he remarked.”Add in higher than average compensation and energy professionals have the time and the means to enjoy diverse, rich cultures found in some of the world's most exotic locations.”This explains why Dubai is such a popular choice among riggers. Not only is the city blessed with some of the largest oil and natural gas reserves, but it offers everything that workers could possibly need during their free time.The emirate has some of the finest villas, apartments and hotels on earth and is also full of world-class restaurants, clubs and upmarket retail outlets.Expats from countries like Bangladesh and the US have accepted jobs in Dubai's oil and gas sector in the recent past and there is every chance that thousands of other foreign workers will descend on the Gulf in the coming years.Dubai's economy has grown significantly in the past 12 months and experts predict the city's gross domestic product to expand by between three and four per cent by the end of 2013.Rigzone chiefs insisted the wealth generated by the lucrative natural resources sector has been used to create a “business-friendly and economically-diversified city”. Continue reading
