UAE economic outlook buoyant: Juwai IQI

Inayat-ur-Rahman, Business Editor

The UAE economy continues to gain momentum as global investors are relocating their investments to UAE.

This was stated by Kashif Ansari—Co-founder and Group CEO Juwai IQI, which is the international real estate technology group that powers property transactions and ownership locally and globally. HQ in Malaysia.

Ansari echoed that Dubai remains in the limelight among global sophisticated and smart investors for trophy investment opportunities.

“Whether its property market investments, startup or PE or Gold investment, UAE gets the centre stage among investment landscape.

“The range of investments is impressive. There are direct stakes in some of India’s leading banks, manufacturers and startups are investing in UAE, thus becoming an important source of capital and investment hub.” Ansari added.

Ansari noted that the crucial source of finance will be Abu Dhabi, which has already received billions of dollars in several UAE companies in all sectors. All of this suggests that the Emirates is evolving into a financial capital for India. Moreover, lot of CFOs prefer Dubai as a hub in dealing with global financial markets due to time preference and regional connectivity.

“We at Juwai IQI expect UAE GDP to grow between 3.5 and 4.5% in 2023 because of high economic confidence and investors preference for Dubai.” Ansari added.

“UAE is attracting lot of Indian investment in recent times which has given boost to the local businesses and economy. It has an impact on the geography of Indian success. We have seen in the current era of billionaires like Mukesh Ambani, India’s richest citizen, broke Dubai’s house price record in August with the purchase of a property for $80m, it sits at the tip of a palm fringed archipelago).”

“He then broke that record with a $163m purchase in October (about which details are scarcer). Recorded property transactions witnessed all-time high,” Ansari concluded.