Business & Economy

Abu Dhabi Reduces Private Sector Business Setup Fees by 90%  UAE – As a part of the ongoing efforts to support the private sector, Abu Dhabi has recently announced that it would reduce business setup fees, as…

UAE Economic Activities to Recover in 2021 Industry experts forecast that the UAE economic recovery will strengthen further in the second half of 2021, primarily because of the read more

UAE Hospitality & Tourism Sector is Expected to see an Accelerated Growth The hospitality and tourism sector in UAE is expected to accelerate its growth and strengthen in 2021, as a result of the push to …

Dubai Records Foreign Direct Investment of AED 24.7 Billion in 2020 The Dubai Investment Development Agency, a part of Dubai Economy estimated that the Emirate recorded a Foreign Direct Investment (FDI) of AE…

UAE an Attractive Destination for Investment Over Next 3 Years The United Arab Emirates (UAE) rose to 15th position globally in 2021, up by four positions compared to the previous year on the Ke…

Abu Dhabi Government Aims to Boost Economy Amid Covid-19 Pandemic There are two major challenges that the Abu Dhabi government is currently facing, in the post-pandemic market read more

New AED 30 Billion Strategic Programme to Boost the UAE Economy H. H. Sheikh Mohammed, VP & PM of UAE and Ruler of Dubai, recently announced a new strategic programme to boost vital sectors in the country. The initiative includes …

Operation 300 billion – Focus on Sustainable National Economy HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has launched the Industrial Strategy “Operation 300 billion”, a 1…

Dubai Urban Master Plan 2040 In order to further enhance Dubai’s appeal to investors, visitors and residents, Dubai has launched the 2040 Urban Master Plan, a roadmap for sustainable urban development in the city. The masterplan was designed by H.H. Sheikh Mohammed bin Rashid Al Maktoum, V.P. and P.M. of the UAE and Ruler of Dubai. The plan focuses on using the available spaces within the city limits and concentrates on development in existing urban areas.  The major focus of Dubai 2040 urban master plan is to develop the five urban centres namely Deira & Bur Dubai, Marina & JBR, Business Bay & Dubai Downtown and Expo 2020 Centre & Dubai Silicon Oasis Centre. Initiatives such as infrastructure development and new property development will be carried out raising Dubai’s reputation globally as a business and financial hub. Furthermore, the implementation of 2040 Master Plan will strengthen Dubai’s resilience toward global challenges.  Impact of Dubai 2040 Urban Master Plan – Tourism & Hospitality It is estimated that Dubai’s population is set to reach 5.8 million by 2040 from 3.4 million in 2021, and the 2040 urban masterplan will provide the groundwork for how the city can grow sustainably over the next 20 years, accommodating the needs of the growing population. Under the plan, the land area used for hotels and tourist activities will increase by 134%, while the land used for commercial activities will increase to 168 Sq. kms.  While Dubai will continue to be a global hub for innovative start-ups, international corporations and an ideal platform for Foreign Direct Investments (FDI), the master plan will also increase the land area allocated to education and health facilities by 25%, while the length of public beaches will increase by as much as 400% in 2040. Easily accessible integrated service centres will be established across Dubai while the plan also seeks to raise the quality of life of the city while increasing population densities around key transit facilities. Read: Dubai Extends the Freeze on Government Fees to Support Local Economy and Businesses Investment Opportunities in Dubai The people-centric plan focuses on reinforcing Dubai’s competitiveness as a global destination for investment, by providing a wide diversity of lifestyle and investment opportunities for citizens, residents, visitors and addressing all their growing needs over the next 20 years. It will also enhance Dubai’s investment appeal and attract fresh investments into all the sectors. The plan will help raise the Emirate’s growing role as a pivotal business and trade hub, enhancing its attractiveness as an investment destination by leveraging its superior logistics infrastructure, including some of the world’s best ports and airports and maximising its ability to harness the vast talent pool available. The new master plan will help strengthen Dubai’s efforts to mitigate the repercussions of the Covid-19 pandemic, accelerate the pace of its economic recovery and prepare the ground for a bright new post-pandemic world. Read: Investors Positive & Confident about the UAE Economy Research Konnection is one of the leading market research companies in Dubai and UAE. Please feel free to reach out on waqas@researchckonnection.com to discuss about successfully entering the UAE market, Market Research, Business Plan Development, and Business Setup or Expansion. …