Tamleek: Significant global investments underway in Dubai

Tamleek: Significant global investments underway in Dubai
Dr. Brian Etemad, Esq. is a licensed US Attorney from New York and owner of Tamleek Real Estate

Several key industries are expected to see prominent gains because of Expo 2020. They include hospitality, retail, real estate, banking and finance and transportation.

Published: Wed 27 Mar 2019, 10:32 AM

Last updated: Wed 27 Mar 2019, 12:49 PM

Dubai has become the envy of every metropolitan city around the globe thanks to the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai.The Leadership of the UAE and Dubai has ensured that all sectors of the economy, especially real estate will flourish for many years to come.

Dubai has become a hub for business travellers and the ease of doing business in the UAE and Dubai has attracted many institutional investors and global companies. Investors are also reassured that their investment in all sectors of the economy, especially real estate will be a wise and fruitful one.
It has emerged as an ideal place for entrepreneurship and with the constant influx of new residents from all parts of the world, new segments are opening up rapidly.

The Dubai government supports entrepreneurs through the Mohammed Bin Rashid Establishment for Young Business Leaders, the Mohammed Bin Rashid Awards for Young Leaders and the Mohammed bin Rashid Al Maktoum Foundation.

These organisations seek to motivate young Arab leaders to become integral parts of the region's economy. The government's support for young Emirati entrepreneurs is exceptionally generous and there are several grants available for those with a strong business plan.

Incredible growth
Recent years have seen incredible growth across several sectors of the Dubai economy. And the government is constantly working to improve commercial transparency and introduce dynamic regulations that aid the formation of small and medium enterprises (SMEs) and have the ability to react to global financial challenges.

The economy is now no longer reliant on oil, but is diversified, relying extensively on trade, services and finance sectors. Thanks to its central geographic location between Asian and European markets, Dubai has established itself as an integral part of the global trade mechanism. And its key strategic location has allowed Dubai to become a popular and accessible tourist destination.

The government and its various departments have also been adapting to rapid technological changes ensuring hassle-free and streamlined electronic services. Consequently, international investors have taken advantage of these facilities to set up their operations in the emirate.

Dubai has several free zones that attract increasing foreign investments thanks to their unique laws relating to ownership, taxation and labour issues. Another key aspect of investments in Dubai is the presence of the Real Estate Regulatory Agency (RERA) and the Dubai Land Department (DLD), which have implemented new and updated regulations to protect the investors.

The department regulates the relationship between all contracting parties and organises the exchange process of properties. It provides multiple services to clients in Dubai extending its role in planning, organising and evaluating operations related to real estate licenses, and the organisation and development of real estate activities, as well as a commitment to monitor projects financially and technically, in order to protect investors.

Key advantages
Dubai has a multitude of key advantages that it offers investors. They include:

- Strategic location
- Political and economic stability
- Open and free economic system
- World-class infrastructure and service sector
- Competitive cost structure
- High quality of life, excellent living conditions
- Strong local commercial tradition and wide choice of potential business partners
- Extensive foreign trade network and major achievements in exports and re-exports
- Rapidly developing manufacturing sector

Dubai is a 4-hour flight from 1/3 of the global population and 8 hours away from 2/3 of the world population. It has several other major advantages as well. Sound infrastructure, amenities (restaurants, malls, etc) and the school system has made Dubai an attractive place to reside and invest in. Importantly, safety and security that the UAE and Dubai offer are the best globally.

Dubai Strategic Plan 2021
The Dubai Strategic Plan 2021 (DSP 2021, or Dubai Plan 2021) was unveiled by Sheikh Mohammed on 17th December 2014. All government entities have aligned their strategic plans with the Plan to ensure consistency and synergy.

The Plan puts the people first, while describing the future of Dubai based on six themes, which together form the smart city's vision up to 2021.

The themes are:
- A city of happy, creative and empowered people
- An inclusive and cohesive society
- The preferred place to live, work and visit
- A smart & sustainable city
- A pivotal hub in the global economy
- A pioneering and excellent government

The Plan describes the future of Dubai through holistic and complementary perspectives, starting with the people and the society who have always been, and always will be, the bedrock of the city.
It describes the characteristics that Dubai residents need to have to deliver on the aspirations in all areas, and examines the society needed to support and empower these individuals in achieving their goals. It also addresses the urban and the living experience of the people and its visitors and focuses on the economy.

Expo 2020 Dubai
For hundreds of thousands of international visitors, Expo 2020 Dubai, which will be hosted in the city from 20 October 2020 to 10 April 2021, will revolve around trade and innovation from across the globe and will highlight major achievements of Dubai. Several key industries are expected to see significant gains because of the event. They include hospitality, retail, real estate, banking and finance and transportation.

The event will showcase the emergence of Dubai on the global map as an innovative and vibrant city, catering to varied demands of trade and industry and different sectors of the economy. Undoubtedly, this landmark event will catapult Dubai to a preeminent position globally and ensure sustained growth and development. Thanks to technological innovation, the world is changing at a rapid pace, bringing nations and cities closer together. Dubai, with its strong leadership at the helm, is at the centre of this vibrant transformation.

The author, Dr. Brian Etemad, Esq. is a licensed US Attorney from New York, a man of sound academics and rich experience across continents. A high-energy, fiscally-conscious and goal-driven real estate guru, he approaches each new business challenge with his intrinsic flair for innovation, creative problem-solving and measured risk-taking to drive consistent success within the real estate industry. His Tamleek Real Estate is a global entity with branches across three continents. Its focus now is on development and investing in residential, commercial and hospitality sectors (including boutique hotels). He is planning on building a new city in Uzbekistan.

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