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The UAE is emerging as a major hub for trade, tourism, family offices, technology and aviation.
Inayat-ur-Rahman, business editor
The recent surge in non-oil trade to over AED1 trillion, up 17% from last year in 2021, reflects the growing confidence among global investors in the country.
This is important given the fragility of the global economy and stock market volatility, and the UAE has managed to keep trade and commerce on an upward trajectory.
In an exclusive interview with Gulf Today, Kashif Ansari, CEO of Juwai IQI Group, said that all credit goes to the UAE leadership for driving the country’s economic development and raising the income levels of the masses to achieve a wealth-creating economy.
Kashif Ansari.
He noted that the UAE is emerging as a major hub for trade, tourism, family offices, technology and aviation.
On the premise that aggregate demand, investment and trade data remain stable over the next 15-18 months, Juwai IQI expects GDP to hover around 3% to 4% this year. There is an influx of investment into the real estate market, with a daily transaction volume of $1 billion.
“According to data from the regulator, the value of real estate transactions in the Dubai real estate market is around AED3.9 billion as the UAE real estate market continues to recover after the pandemic,” Ansari added.
According to a Juwai IQI market intelligence survey, global investors from Europe, America, Asia and Africa have shown strong interest in buying real estate in Dubai as it offers a lifestyle and comfort like a first world country.
“We are witnessing strong interest from both retail and institutional investors. The investment and rental markets are increasingly responding with office space.
“All prime locations are on investors’ radar such as Dubai Marina, Business Bay, Mirdiff, Arabian Ranches, JBR and JLT to name a few. Considering the overall positive macro situation i.e. stronger GDP figures, solid trade And business figures, we expect the UAE to perform better in the GCC.
“Over the next two quarters, we expect the economy to grow as macroeconomic stabilization penetrates into the economy. Thanks to its strategic location, solid tourism, strong infrastructure, technology-driven economy and productive workforce, The UAE remains on the radar of global investors.”
“Juwai IQI is optimistic about the UAE’s economic outlook for 2022 and 2023,” Ansari concluded.
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