Dubai is currently reaping the fruits of the long-term vision and development strategies put in place in the past, according to Mohammed Al Shaibani, Director-General of The Ruler’s Court, Government of Dubai, and CEO & Executive Director of Investment Corporation of Dubai (ICD).
The emirate boasts excellent infrastructure and has become a coveted tourist destination. Key sectors of Dubai have made robust recovery, he was quoted as saying by Al Khaleej newspaper.
Al Shaibani was speaking on the sidelines of a press meet to announce the launch of the first Forbes Global CEO conference in Dubai.
Ahmad Abdullah Al Shaikh, Director-General of Dubai Government Media Bureau and Managing Director and General Manager of DMI attended the conference. Others present were Reem Al Hachemi, Minister of State, and Abdul Aziz Al Ghurair, Chairman of Al Ghurair Group who is also the CEO of Al Mashriq.
Dubai’s strong performance in all key sectors is proof that the emirate quickly recovered from the global financial crisis, said Al Shaibani.
He said Dubai’s real estate has made robust recovery, noticeably the residential sector. Property prices in some areas in the emirate returned to the pre-crisis levels and has even surpassed. Office units sector is expected to recover completely in the next two to three years, he added.
Al Shaibani said international companies are vying for a place in Dubai, and that explains the competitive prices.
Dubai is also equally strong in other sectors such as tourism, trade and transportation and logistics, he said.
He also stressed that the emirate is keen to enhance co-operation with neighbouring countries in order to create a strong economy and to integrate healthy with other GCC and Arab nations.
Al Shaibani said it was a matter of pride that Dubai was chosen to host the first Forbes Global CEO conference.
Steve Forbes, President, Forbes said, “Dubai was chosen because the emirate is the international trade hub between the East and the West. Also Dubai being the hub of equestrian sport, made it the first choice.
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