GEC NEWS WIREReport plots recovery as investors eye infrastructure and Islamic finance potential
Dubai’s recovery from the global financial crisis of the late 2000s and its preparations for the 2020 Expo are just two of many topics given wide-ranging coverage in a new report just released by the global publishing, research and consultancy firm Oxford Business Group (OBG). The Report: Dubai 2015 combines detailed analysis with data charting the latest developments across Dubai’s economy, which have put it on course to notch up GDP growth of around 4.5% this year and in 2016.
The cautious revival under way in Dubai’s construction industry is a key focus of OBG’s latest report. Figures put the sector’s contribution to GDP in 2013 at 8% which, while well below 2008’s 14%, suggests the emirate is unlikely to witness a repeat of the overreach that led to the 2009 property crash.
The Report explores the significance of MSCI’s decision in 2014 to upgrade the UAE from frontier to emerging market status, which is already boosting liquidity levels and generating new interest among companies considering listing.
The emirate’s efforts to carve a niche in the global Islamic finance market are also analysed, including its drive to develop sharia-compliant industries and anticipated equities and sukuk. There is also detailed coverage of developments in the emirate’s transport sector, including the key role played by DIA, which is now the busiest airport in the world in terms of international passengers, and Dubai’s hopes of becoming a major maritime centre.
The report contains a contribution from the Vice-President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, together with a detailed, sector-by-sector guide for investors. “While infrastructure and Islamic finance are two of the talking points amongst investors eyeing Dubai, other aspects of its development could give the emirate an edge when it comes to attracting new capital inflows,” he said. “We expect initiatives such as Dubai’s plans to introduce the PPP model and get public infrastructure online to be instrumental in boosting investor interest, bringing an opportunity to broaden the emirate’s tourism industry and other related sectors.”
