Dubai: from the desert to a magnificent metropolis
Dubai, commercial capital of the Middle East
For the discerning buyer looking for a bargain in Dubai, Dubai is heaven on earth. Known as the “shopping capital of the Middle East”, it is home to the largest shopping center in the world, the “Dubai Mall”. This is the crowning glory in a group of around 70 air-conditioned malls in Dubai, attracting visitors from far and wide. Dubai is also known as the “City of Gold”; the Gold Souq, located in Deira, has up to 250 retail stores dedicated to gold.
World-class sporting events and entertainment in Dubai
The younger generation doesn’t lack for fun on their Dubai holidays either; there are a number of theme parks located throughout Dubai; Notable examples include the famous Wild Wadi Water Park, located on Jumeriah Beach Road, and the world’s largest indoor ski arena, SkiDubai, which proves that with a little innovation, it’s possible to bring an authentic ski experience into the arctic winter. to hot and sunny Dubai.
Horse racing is an exciting activity in Dubai that combines the global and the local, the modern and the traditional. Along with the heritage sports of camel racing and falconry, a trip to the races offers a real insight into the emirate.
The Meydan Racecourse, the world’s largest grandstand and the only five-star trackside hotel, Meydan is famous for hosting the world’s richest horse race, the Dubai World Cup, every March. Races are held at Meydan from November to March and form a key part of Dubai’s world-renowned sporting events calendar that includes world-class golf, tennis, cricket, rugby, motorsports and water sports.
Dubai international cuisine
International and Arabic food is available everywhere when you are on vacation in Dubai, from small restaurants to hotels. All major fast food franchises are present in Dubai and from American to Chinese and Indian; Dubai caters to everyone’s needs. Blue Elephant is considered one of the best Thai restaurants in Dubai. The decor makes you feel like you’re not in Dubai but in a quaint southeastern town.
A chance to sample the local cuisine, Al Qasr with its authentic Arabic style architecture and decor and a chance to dine alfresco, next to the restaurant or in a beautiful garden, this Lebanese restaurant is the traditional experience.
Shakespeare & Co is the long-awaited luxury coffee shop recently opened on Sheikh Zayed Road, with a cozy continental atmosphere and contemporary furnishings that make you feel like you’re in a coffee shop in London.
Fully automated Dubai Metro
With heavy investment in transportation, Dubai has become an accessible city, with multi-lane highways, a bus service with 140 routes, and an extensive taxi system (which in Dubai is the most widely used form of transportation). Dubai Metro is a state-of-the-art, fully automated metro network that runs throughout the city. It operates both on land and underground, and has carried 10 million passengers since it opened in September 2009.
For international visitors, Dubai is a well-connected travel hub, with many travel options and direct routes available from most major cities around the world. Its outstanding airport has a constant flow of incoming and outgoing flights to meet your needs. Dubai International Airport is the hub for Emirates Airline, the national airline of Dubai, one of the busiest airports in the world, serving 101 destinations in 61 countries on six continents, making Dubai very accessible from anywhere in the world. Dubai’s population has grown dramatically from its origins as a small settlement at the mouth of the creek, since the first boom in 1968 it has doubled every decade to about 2,000,000 today.
With visitors flocking to Dubai throughout the year, there are cheap all-inclusive Dubai holidays and even Dubai holiday packages available that can be tailored to suit your needs, even if you haven’t booked in advance and are still looking. that late offer from Dubai. Dubai is a city that has taken giant steps in recent years. On a Dubai vacation, you’ll discover a unique mix of extremes new and old; a modern and ever-expanding metropolis that is home to an indigenous culture steeped in history and long-observed traditions. It is a truly fascinating mix of history and modernity, which will captivate any traveler.
Dubai’s world-class business environment
Dubai has become a leading regional commercial hub with state-of-the-art infrastructure and a world-class business environment. It has now become the logical place to do business in the Middle East, providing investors with a unique and comprehensive value-added platform.
Since the formation of the United Arab Emirates in 1971, Dubai has grown from an oil and gas dependent state to a widely diversified economy based on international trade, banking, tourism, real estate and manufacturing.
world economic center
Dubai is at the center of a region that is emerging as a major force in the global economy. Stretching from North Africa to South Asia and the Caspian to South Africa, this region comprises 42 countries, some of which are the fastest growing emerging markets in the world.
broad-based economy
Dubai has become a leading regional commercial hub with state-of-the-art infrastructure and a world-class business environment. It has now become the logical place to do business in the Middle East, providing investors with a unique and comprehensive value-added platform.
Since the formation of the United Arab Emirates in 1971, Dubai has grown from an oil and gas dependent state to a widely diversified economy based on international trade, banking, tourism, real estate and manufacturing.
political and economic stability
Dubai is part of the United Arab Emirates, which has earned a reputation as a politically stable country with little crime. The ability of the UAE to withstand the impact of the global financial crisis demonstrates the financial and monetary stability of the UAE.
Various measures taken by the government to promote recovery from the crisis have resulted in growth in deposits and capital inflows, greater activity in the markets and an increase in indices. Dubai’s well-developed banking system guarantees ample credit facilities and ample liquidity. The state has shown a consistent commitment to pro-business and liberal economic policies.
Open and Free Economic System
Dubai’s open economic policy, minimal government control and regulation of the private sector have played a key role in attracting large foreign direct investment (FDI).
Businesses in Dubai do not pay direct tax on corporate profits or personal income (except oil companies which pay a flat rate of 55% and foreign bank branches which pay a flat rate of 20% on net profits generated in Dubai ). Customs duties are low at 4% with many exemptions. Companies can benefit from the repatriation of 100% of capital and profits. There are no currency controls, trading fees or barriers. There is a stable exchange rate between the US dollar and the United Arab Emirates dirham (1.00 USD = 3.678 AED). Liberal visa policies allow for the easy importation of expatriate labor of various skill levels from almost anywhere in the world.
World class infrastructure
Dubai’s policy of investing heavily in its transport, telecommunications, energy and industrial infrastructure has significantly enhanced its attractiveness for international business.
The Emirate has seven industrial areas, a highly successful business park and three specialized free zones, two world-class seaports, a major international airport and cargo town, a modern road network, state-of-the-art telecommunications, a recently developed Rapid Transit opened (Dubai Metro) and reliable energy and utilities, all of which provide efficiency, flexibility, reliability and cost-effectiveness.
Competitive cost structure
Aside from a favorable tax environment, Dubai companies can gain significant cost advantages due to the absence of foreign exchange controls and trade barriers or quotas.
Similar costs in other areas such as import duties, labor, energy and financing are competitive by international standards. Historically high real estate costs have been corrected and are now competitive.
Extensive Foreign Trade Network
Dubai has an extensive foreign trade network, providing investors with a wide variety of potential global marketing outlets for a diverse portfolio of goods and services. As a city within the United Arab Emirates, Dubai is also part of the third largest export and re-export hub in the world, after Hong Kong and Singapore.
A multicultural community of qualified professionals
Expatriates made up more than 80 percent of Dubai’s population, with more than 150 nationalities working and living in harmony in a safe and almost completely crime-free environment.
Dubai attracts a highly-skilled workforce, which is absorbed by the growing number of international companies, professional service firms and financial institutions. Expats enjoy tax-free salaries, schools accredited to international standards, a high level of health care, and excellent recreational facilities, including eight championship golf courses.
A fertile market for specialized financial services
The asset boom and the surge in private and institutional wealth in the region have created a huge demand for specialized financial services.
Dubai is the perfect base to seek out opportunities in a market hungry for new financial products tailored to regional investor preferences and risk requirements. International and regional players establishing themselves in Dubai are now perfectly placed to harness the great long-term potential of the regional market for financial services market growth.