September Commerce 2013

Dubai Update
Welcome to the Dubai Commerce newsletter

Residential property prices in Dubai are in the midst of another boom, but this time it’s fundamentals at play according to a report by Standard Charter. It cites five primary factors fuelling the recovery since the market bottomed out in 2009: economic growth, population increase, return of investor confidence, new regulations and the bid to be host city for Expo 2020 .

Dubai’s economic growth has had a big influence on the housing market. Logistics, hospitality and retail have seen sustainable rates of growth over the past three years. The increase in the emirate’s population, from 1.97 to 2.17 million between 2011-13, has also contributed to an increase in housing demand. Indeed, a surge in school registrations suggest the actual influx from non-Emirati families is actually higher than the official figures.

Improving fundamentals and rising prices are leading to improved confidence. This is likely to help future price growth too, with prices and investment feeding off each other. The report also states that improved real estate regulations, which have increased transparency, have played their part. Introduced last year, the commitment towards protecting property rights has helped to gain new investors whilst maintaining existing ones.

Dubai has emerged as a frontrunner in the bid to host the coveted Expo 2020, and analysts expect a successful bid (the winner is announced in November 2013) to result in a boost for the overall economy and consequently property prices in the emirate and across the UAE. For the full story, please click on this link.
From finding the best restaurant offers to knowing when your favourite band is playing, we pick 5 invaluable apps for Dubai.

- Dubai Tourism's new Dubai the Destination app will inspire you with beautiful images and videos of the city's vibrant landscape, an interactive map to explore some of the best attractions and four mini-sections on culture, family, affordability and luxury.

- The TimeOut Dubai app has the most up to date information on the best restaurants, nightlife, films, things to do and places to see.

- The Dubai Calendar app is the place to go for the official listing of events in Dubai, including concerts, exhibitions and sports.

- If you’re a savvy shopper, then the Dubai Mall app is a must-have, with interactive maps, detailed directions and offers.

- The Atlantis, The Palm Dubai app enables you to make restaurant reservations and find your location at the resort.
Recent DTCM News and Other Dubai Events
SME competition winners’ Dubai fact finding trip
Representatives from Areen Hospitality Design, Pagefield PR, Volatile Media and Beale and Company Solicitors LLP were accompanied by Fayha Sultan, Marketing Manager for Commerce at DTCM, with flights courtesy of Emirates and accommodation in the fantastic Jumeirah Emirates Towers.

The competition was run by British Expertise and the Middle East Association and UK Trade and Investment so the SMEs could get an extensive introduction about business and culture in the emirate.

There was a full schedule of events, including visits to key institutions including the Dubai International Financial Centre (DIFC), the DIFC Courts, Department of Economic Development, Media City and the Dubai Multi Commodities Centre as well as a trip to the Sheikh Mohammed Centre for Cultural Understanding. Informative meetings with the Emaar Hospitality Group and Nakheel, one of the world’s largest real estate developers were also held.

There was also a chance to enjoy a taste of Dubai’s famous hospitality, with visits to McGettigan’s, the Fazari restaurant at the Address Downtown and a superb desert safari courtesy of Arabian Adventures.

Florence Quirici from Pagefield reflected, 'A very worthwhile and well-planned visit to Dubai which shed light on the advantages of establishing an office in one of the city’s economic free zones. Dubai is an obvious destination for any business wishing to expand internationally and offers the additional benefit of acting as a hub from which to access wider markets in the region'.

Dubai Duty Free (DDF) set for expansion
The company has picked three banks to arrange a $750 million loan to fund its expansion at Dubai International Airport, the world's second-busiest and improve its capital structure. Dubai Duty Free (DDF) was established in 1983 as the sole duty free operator at all terminals at the airport. Click here for the full story.

How to get around Dubai

The Knowledge and Human Development Authority (KHDA) is an excellent place to start, as it has a directory of all Dubai schools with addresses, contact numbers and fee structures.

Higher and business education institutions now have a number of affiliations with Western universities. The Commission for Academic Accreditation (CAA) has licensed 58 institutions to operate in the UAE and it is worth checking with them before undertaking a degree or master’s course.

With the boom in eLearning, the Dubai eGovernment and accredited bachelor and master's courses from Hamdan bin Mohammed e-University are a great option for those looking for more flexible learning.

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Dubai Update is a digest of economic, industrial, commercial, travel and tourism and other news, some of which have appeared in the Dubai press. Items have not been independently verified by the Department. It is sent free of charge to organisations in the UK and Ireland wishing to keep abreast of major developments in Dubai.

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