Dubai projects indicate exciting times ahead

Dubai’s fondness for the Number 1 slot is well known and its ability to amaze the world with a line up of magnificent projects has remained unparalleled. The city is considered the most inspiring and sought-after destination, and the beauty is that it refuses to rest of its laurels.

One can expect amazing new developments in the days to come, with His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, declaring: “The Dubai Council’s work will dramatically increase in the coming months. 2020 will be a year of significant change & real transformation on our journey over the next decade. My message to the strong-willed among us is: prepare yourself for a new era full of possibility.”

Dubai’s history has been that words are always matched by deeds.

The announcement that a new district under the name of ‘Dubai Future District’ dedicated to the new economy will take shape in Dubai is bound to be a game changer as the district, along with the new fund, will provide unprecedented financing and legislative facilities and options for businesses.

The Dubai Future District will see Dubai World Trade Centre, DWTC, Emirates Towers and Dubai International Financial Centre, DIFC, directly connected via a bridge, making it the Middle East’s largest district dedicated to developing the new economy.

Exciting new times are on the anvil as His Highness has also announced the launch of a Dhs1 billion fund to support new economy companies that will operate out of Dubai Future District, which will have the potential and foresight to drive Dubai’s new economy and contribute to enhancing the emirate’s position as a preferred destination for global talents and entrepreneurs, through many initiatives and projects.

The idea is to turn Dubai into a nexus for business and an integrated investment environment that offers exceptional facilities.

Interestingly, Sheikh Mohammed has also announced a new Dhs2 trillion target for the volume of Dubai’s foreign trade by 2025, which will be supported by establishing 50 offices around the world, each tasked with promoting Dubai’s unrivalled trade, tourism and investment offerings through and intensifying and unifying of external marketing efforts.

The Dubai Future District initiative acts as an umbrella to many joint projects that will be launched in line with the Jan.4, 2020 Document that was announced by Sheikh Mohammed in which he pledged to continue working on developing the emirate by welcoming national and international talents, building new partnerships that create job opportunities and provide financing to entrepreneurs and startups, and adopting initiatives that facilitate the establishment of new companies and the launch of innovative ideas to design the economy of the future.

New projects being launched ahead of Expo 2020 are certainly energising economic activity in Dubai and businesses are confident of improved outcomes in the months ahead.

The quarterly survey of Dubai Economy recently showed Composite Business Confidence Index, BCI, in the emirate improving 2.2 points to reach 114.9 in the second quarter of 2019, compared to 112.7 points in the same period of 2018, with respondents anticipating higher volumes and profits.

The UAE leadership’s one-point goal has remained the happiness of the people. Projects aimed at enhancing the happiness of residents include a Sky Garden, bicycle lanes and promenades at Sheikh Zayed Road, Umm Suqeim and Jumeirah Beach.

Through its feats, Dubai has repeatedly demonstrated that ambition has no limits and that the word “impossible” is not in its dictionary.