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UAE Still Attractive for Foreign Companies

Industry experts, entrepreneurs and professionals during a three-day course concluded recently and organised by IE Alumni Association, shared their opinions and experiences with the participants of the course.

The topics of the event were “Doing business locally: understanding key regional markets” and “Organisations and competition: from global to local.” Gonzalo Gaspar, Managing Director of Valor Business Consultants, one of the speakers, contributed to the conference with an insight about the current situation in the real estate sector.

Gaspar, who helps companies to establish partnerships in the region, states that while not so long ago finding an office space at an affordable price was a hard task, right now the situation is completely different compared to this time last year. Prices have dropped drastically in only three or four months and who knows how much more they will fall by in the 
next term.

But Gaspar is confident of Dubai’s future and although the market now is very slow, he has faith in it and affirms that it will pick up, hopefully reaching a stability that could keep Dubai away from dizzying high prices when it comes to purchasing properties but still competitive enough to cultivate a healthy competition between developers and brokerage companies.

Arturo Manso, Managing Director TEKA Middle East, with 12 years of experience in the Middle East, named Dubai as the door for business in the Middle East. He also pointed out some obstacles companies might encounter when entering the UAE market such as being a new brand and not having references, clients or projects over here.

· abdulbasit@khaleejtimes.com