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Dubai Records Business and Tourism Growth |
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1/30/2009 10:24:13 AM |
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Despite challenging financial conditions globally, Dubai continues to witness sustained net growth in the establishment of new businesses and increased airline passenger arrivals, according to Mohamed Alabbar, Chairman of The Advisory Council of the Government of Dubai, a high-level economic advisory.
According to data supplied by the Government of Dubai, it issued 1,285 new business licenses per month in November and December of 2008, up significantly from 1,045 per month for the same period in 2007.
During November and December of 2008, the Government of Dubai cancelled 148 licenses per month, in comparison to 131 licenses cancelled per month during the same period in 2007. "This shows that the number of new businesses set up in Dubai has grown, despite the global financial crisis," Alabbar commented.
Airline passenger arrivals into Dubai have grown an average five per cent in the past two months, Mr. Alabbar highlighted. The number of passenger arrivals, not including transit passengers, was an average of over 1.5 million per month in the last two months of 2008.
Turning to the property sector, Alabbar emphasised that the most recent projections provided by the Real Estate Regulatory Agency (RERA) show that there is an expected supply of some 28,000 new homes in Dubai this year, with the three main developers controlling overall demand and supply. "With the current trend of sustained growth of new residents, supply is forecast to be in line with demand this year," he added.
"Here in Dubai, we represent the trade, investment and knowledge hub for the Gulf, which has a population of 40 million and an economy that has grown three-fold in only five years to $1 trillion. We are also in the heart of the wider Middle East, North Africa and South Asia (MENASA) region that is home to one quarter of the world's population," Alabbar concluded.
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Source:Associatedcontent.com |
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