The UAE is emerging a major hub of trading, tourism, family offices, technology and aviation.
Inayat-ur-Rahman, Business Editor
The recent upsurge in the non-oil trade exceeding Dhs1 trillion and recording a growth of 17 per cent over the last year 2021 reflects the growing confidence of global investors in the country.
This is quite significant considering the global economic fragilities and equity market turmoil, the Emirates has managed to maintain trade and commerce in the upward trajectory.
This was stated by Kashif Ansari, Group CEO, Juwai IQI, during an exclusive interview with Gulf Today, adding that all the credit goes to UAE leadership for driving the country in attaining economic progression and growing the income level of masses to achieve wealth creation in the economy.
He noted that the UAE is emerging a major hub of trading, tourism, family offices, technology and aviation.
We at Juwai IQI expect GDP to meander around 3 to 4% this year based on the premise that aggregate demand, investment and trade numbers to stay solid in the next 15-18 months. Lot of investment is coming in the real estate market where transactions have touched $1 billion per day.
“The Dubai real estate market has recorded real estate transactions of around Dhs3.9 billion in value, according to the regulator data showed, as the UAE property market continues post-pandemic recovery,” Ansari added.
According to Juwai IQI market intelligence reconnaissance, global investors from Europe, America, Asia and Africa have keen interest in buying real estate in Dubai since it provides life style and comfort like the first world country.
“We have witnessed strong interest both from retail and institutional investors. Investment and rent markets are getting stronger response along with office space.
“All prime locations are on investor’s radar like Dubai Marina, Business Bay, Mirdif, Arabian Ranches, JBR and JLT to name a few. Keeping in view the overall positive macro picture ie stronger GDP numbers, solid trade and commerce figures on the upsurge, we expect UAE will perform much better in the GCC.
“In the next 2 quarters, we expect economy to grow as macroeconomic stability gets deeper into the economy. UAE remains on the global investors radar due to her strategic geography, solid tourism, strong infra-structure, technology driven economy and productive labor force.”
“Juwai IQI stands buoyant on the economic outlook for UAE in 2022 and 2023,” Ansari concluded.