Dubai witnesses strong economic activity

Dubai – Economic activity in Dubai remained positive during the first nine months of this year with 10 new company licences being issued in every business hour.

As many as 15,268 new business licences were issued by Dubai’s Department of Economic Development including 1,152 in September alone as the emirate continued to attract investors looking at competitive locations.

Accounting for 65 per cent of the total, commercial licences took the lion’s share with 9,978 licences, followed by professional licence at 4,997 – accounting for 33 per cent of the total. While industrial and tourism licences made up one per cent and 0.9 per cent with 158 and 135 licences – respectively. The number of industrial and professional companies grew 5.3 per cent and 10.7 per cent, respectively.

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Source: Zawya

Dubai among world’s most powerful cities for talent, business

Dubia: Dubai has been ranked for the first time among the world’s most powerful cities for attracting expatriates and businesses.

In the latest Global Power City Index, which rates nearly 50 cities according to their “magnetism” or power to attract enterprises and human capital from around the world, Dubai was ranked the most powerful city in the Middle East and 23rd place globally, ahead of some popular destinations in the United States, Canada, Europe and Asia.

The annual index was first published in 2008 by the Mori Memorial Foundation’s Institute for Urban Strategies, a research body established by urban developer Mori Building.

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Source: Gulf News

Expo 2020 Dubai effect: Future rising

Construction activity in Dubai is expected to pick up substantially over the next few years with more than Dh350 billion worth of contracts to be awarded prior to Expo 2020.

According to figures released by BNC Network, and exclusively shared with Khaleej Times, around $97 billion (Dh356 billion) worth of contracts will be awarded in Dubai ahead of Expo 2020.

“This includes projects that have been announced and are in different stages of construction lifecycle. However, leading to Expo 2020 new projects are expected to be announced that may be awarded before the event,”.

Avind Gidwani, CEO of BNC Network, said. Gidwani disclosed that the expected size of infrastructure related contracts from both the public and private sector to be awarded prior to Expo is around $12.2 billion (Dh44.774 billion).

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Source: Khaleej Times

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