UAE leads as a global technology hub

Inayat-ur-Rahman, Business Editor

The global economy is making a major shift towards technology and investors are moving to countries where technology infrastructure is strong and stable and labour force is geared up for solid productivity, clearly UAE is in the driving seat. This was revealed by Kashif Ansari—-Co-founder and Group CEO of Juwai IQI, Asia’s largest proptec group and operator of real estate super brands Juwai  and IQI Global.

Ansari mentioned that Dubai got 4 competitive advantages, such as government  focused on technology ,  productive labour force, strong technology infrastructure and huge tech companies presence.

“These four advantages give immense lead to UAE to attract talent and FDI in the technology landscape.” Ansari added.

He  noted that he expects around $25-50 billion in technology FDI in UAE in the next 2-3 years.

“Areas of investment in these 7 sectors include ,  5G,  data warehouses,  Artificial Intelligence , Quantum computing, blockchain,  robotics,  cloud computing and  Cyber security.” Ansari added.

“All these sectors hold significant value for the investors and for the global economy. In the next 3-5 years, only technology driven economies will achieve higher GDP growth as digitilization becomes the hallmark of economic development and progression.”

“ The UAE is perfectly poised to atttain higher growth rate as compare with many other countries.”

According to the latest report from economist magazine published in Jan 2023: three countries in GCC will drive the growth in the next 3-5 years ie , Saudi Arabia ,  UAE and  Qatar.  It is based on the premise that Higher oil / gas prices are back, Global investors moving funds, Investment inflows,  strong domestic demand

technology driven labour force,  banks are increasing head counts, investment in infrastructure

With Ansari’s  expertise in real estate market, he expects Dubai real estate market will maintain its momentum with more global sophisticated and smart investors parking funds with appreciable returns.