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  Dubai - The Golden City of Souks




 Dubai - Business Information

Business Facts

GDP per Capita: $49,700
Major Exports: Crude Oil, Natural Gas, Dried Fish & Dates
Major Foreign Exchange Counters: Western Union & Thomas Cook
Key Industries: Petroleum, Fishing, Petrochemicals, Construction Materials, Boat Building, Handicrafts, Tourism, Trade Fair & Communications
Major Industrial Areas: Al Quoz, Al Hamra Industrial Park, Al Awir Road, Al Safa area, Um Ramool Industrial Area, Al Khubaisi Area, Al Qusais Industrial Area, Dubai Industrial City & Jeble Ali Industrial Area
Major Business Hubs: Dubai World Trade Center, Dubai Financial Market (Stock Exchange), Dubai International Convention & Exhibition Center, Deira & Jebel Ali Free Zone

Business Overview
Stretched along both banks of the Creek, Dubai’s central business district is divided into two parts - Deira on the northern side and Bur Dubai to the south. Each of the district has its own share of busy souks, public buildings, shopping malls, hotels, office towers, banks, hospitals & schools.

These districts have always remained important ports for Western manufacturers therefore, offering access to a market of outstanding potential for overseas companies. While most of the city's banking and financial centers are also headquartered in these port areas.

Though a leading regional trading hub, Dubai as compare to Abu Dhabi has less oil reserves hence, oil income represents a small proportion of emirate's income. Consequently, the government has diversified this trade-based but oil-reliant economy to one that is service and tourism oriented.

Today, Dubai is developing as a hub for service industries like IT and finance. With a new Dubai International Financial Center (DIFC) and industry-specific free zones throughout the city under TECOM (Dubai Technology, Electronic Commerce and Media Free Zone Authority), the city flourishing at a rapid pace as a service sector.

Dubai Internet City combined with Dubai Media City is one such enclave whose members include IT firms such as Oracle Corporation, Microsoft and IBM and media organizations such as CNN, Reuters. A yet another zone is Dubai Knowledge Village (KV) which is an education and training hub facilitating future knowledge workers’ requirement of Dubai Internet & Media City.

Another important sector of service industry is convention and trade fair. The Dubai exhibition and convention center as a part of its World Trade Center, accommodate several national and international shows and exhibitions like Gulf Pack, Hometech Middle eats and many more.

The property boom has made real estate more valuable in Dubai. Construction on a large scale has the city into one of the fastest growing cities in the world. This boom is driven by Mega-Projects including Burj Dubai Complex, Dubai Waterfront and Business Bay. The city interests have also purchased large amounts of ‘trophy properties’ in global centers like New York and London including New York's 230 Park Avenue and Essex House on Central Park South.

Major Business Centers
Dubai World Trade Center:
The Dubai World Trade Center (DWTC) was established in 1979 to stimulate trade and commerce in the country but today it has become a symbol of economic growth and prosperity in the whole Middle East. Its three main activities are organizing exhibitions, providing hospitality services and property leasing.

The Complex comprises of a 39-storey office tower, 492 serviced residential apartments, seven international standard exhibition halls, a 200-seat theatre, congress center and a private member's business club also including,

Dubai International Convention and Exhibition Center (DICEC):
A world-class venue, DICEC is an enviable location that has everything from flexible and versatile meeting and exhibition spaces to impressive facilities.

This leading venue hosts variety of international meetings, conferences and exhibitions, product launches, seminars, workshops including special events like concerts, sporting championships, award ceremonies, weddings and much more.

The Dubai Financial Market (DFM):
The stock Exchange of Dubai, DFM is one of three stock exchanges in UAE. It has about 40 listed companies most of which are local UAE companies and a few from other Gulf countries with dual listings.

Major Commercial Areas
Deira:
An old district of Dubai Deira is An important commercial and business center,. Not just home to traditional gold and spice souks, the area also accommodates some of the best hotels of the city. Hotel choices include Carlton Tower Hotel and Hilton Dubai Creek, both with magnificent views over the Creek.

The City Center of Deira is also the leading entertainment and leisure complex of its kind not only in the UAE but also in the Gulf, offering a choice of over 340 superb shops, restaurants, fast food outlets, children's entertainment center, Jewellery Court, Arabian Treasures, Textile Court and much more.

Jebel Ali Free Zone (JAFZ):
Located in Jebel Ali area and run by the Jebel Ali Free Zone Authority (JAFZA), JAFZ offers an economic zone with such lucrative business and tax incentives that Foreign companies doesn’t have to pay import duties or form partnerships with local companies in the UAE.

The Zone also caters to the Dubai Port which ranks 13th in the world in terms of container traffic besides providing warehousing and distribution facilities to international and local corporations.

Located 35 km southwest of the city and built around the world's largest man-made port, the Zone covers 100 km2 housing an array of 850 companies, including almost 100 American firms.

Major Manufacturing Zones
Al Hamra Industrial Park:
Just 40 Minutes from Dubai International Airport, 25 Minutes from Sharjah International Airport and 20 Minutes from RAK International Airport, The industrial park is public-private initiative to promote industrial development and sustained growth in Emirates.

It facilities zero taxation or import duties, low-cost energy and industrial facilities in which unique and cutting edge remote management & marketing technology is included.

Dubai Industrial City (DI):
DI is a rather newest industrial zone clustering manufacturing facilities in high-value-added sectors. The city concentrates on six sectors namely, machinery & mechanical equipment, transport equipment, base metals, chemicals, food and beverage and mineral products.

The Industrial City is located on the Emirates Road, just 12-km from Jebel Ali Port and Waterfront project. It is a complete city offering an industrial environment tied to the unique amenities of Dubai’s urban lifestyle with a Downtown area having varied facilities such as hotels, entertainment, corporate entertainment and conference complexes.

Dubai Industrial City also offers a One Stop Shop providing a single window of clearance for government services, support services and access to labor from all over the world.

Location: Emirates Road

Manufacturing: Machinery & Mechanical Equipment, Food & Beverage, Transport Equipment, Base Metal & Chemicals


Dubai




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