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Dubai's rapid growth propels need for office space |
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10/26/2006 9:01:13 AM |
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Dubai has turned out to be the pivotal hub for all major companies who wish to be represented in this booming region.
Being the commercial capital of the United Arab Emirates, one of the major players in the Gulf, Dubai is perfectly poised between the developed west and the fast rising east.
A gleaming metropolis amid the rolling dunes of the Arabian Desert, Dubai has established itself very firmly as the commercial centre for the Gulf region. The modern high-tech infrastructure and the pro-business attitude of the government has edged nearly every international company wishing for a Middle East presence to opt for Dubai as its base.
This has resulted in the establishment of a large number of business centres in the city and the development of new ones progressing rapidly, in turn fuelling the raging demand for office environments, office automations and subsidiary requirements.
The total GDP for Dubai grew by 16.6% in 2004, of which the construction sector itself accounts for a whopping 29%. The industrial sector followed it by a surging 41%.
'This high economic progress is primarily due to the city's wide-ranging initiatives, which have allowed it to prosper even when global and regional markets have faltered,' says DMG world media exhibition organiser Paula Al Chami.
According to Paula, as the surrounding Emirates and the other Gulf States develop and mimic the Dubai model to expand their economy, Dubai will find the demand for its services as a business centre that provides advice and consultancy services to the rest of the Gulf region, ensures its long-term role as a business and commercial centre.
Neighbouring Saudi Arabia is constructing an Industrial City at Jubail to be built in four phases, the initial stage being estimated at US$3.46 billion. A US$1.5 billion project is underway in Bahrain to build the Bahrain Financial Harbour. Work is also underway on the Bahrain World Trade Centre, which has been pegged at US$150 million.
Qatar has announced that it will establish a third such centre in the Gulf region, offering a three-year tax holiday followed by low tax rates after this initial period. In Kuwait, the Arraya Centre has now been completed and work has commenced on the Al Wadi Commercial complex. These projects are in addition to the latest business town, the US$24 million Al Mirqab.
The scale of activity and the number of companies setting up office in the region is encouraging for The Office Exhibition which showcases the latest trends in office interiors and state-of-the-art office furniture. The most prestigious event of its kind in the region, this year it's expected to draw in more participants and visitors held from the 3rd - 5th June 2007 in the new state-of-the-art Zabeel Hall at the Dubai International Exhibition Centre. |
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