Middle East's Economic Zones
Setting up a business in Middle East's Economic Zones
Dubai is fast becoming the most vibrant economic and business hub in the world. It is an important focal point of the Middle East which contributes a major share towards the GDP of the UAE. A rapidly growing city with fantastic weather and world-class infrastructure, Dubai is destined to be the new Dubai – the next commercial center in the region. There has been an enormous growth in both the commercial and tourist traffic in Dubai over the past few years and this has created enormous opportunities for companies and international businesses that are looking to establish their base in Dubai and grow their business in this financially developing yet spectacular city of the UAE. Economic zones are emerging all across the city and this makes the opportunities to be explored and implemented by business owners and investors with Dubai Real Estate to be unparalleled.
The economic zones in Dubai have been recognized as the ideal locations for doing business. These zones play a very crucial role in shaping the character and future of the city and its economy. They are designed and built to bring together the various aspects of the business community in one place. They have the potential to attract and retain not only local entrepreneurs and businessmen but international businesses too. They allow easy access to Dubai’s stock exchange, massive capital market, legal system, international airport, and employment possibilities.
However, although these economic zones offer great prospects for businesses, it is important to note that there are some major drawbacks that come with them as well. Despite the huge growth in the tourism industry in Dubai, the quality of the city’s education system and healthcare sector is lagging behind the rest of the world. Security issues and lacking standard of living contribute significantly to these setbacks. But then again, these negatives are balanced out by the tremendous opportunities that exist if you are willing to take the right steps and work for it.
The Dubai Free Trade Zone provides a lot of benefits to businesses that wish to enter this global market. This is the second-largest emirate in the world and has a highly developed tourist, business, and labor sector. It also has the fastest-growing per capita income in the Middle East. Although there are still many regions in the world that require a lot of development, the sheer size of the Dubai economy is already a big attraction for most potential investors.
For those people who wish to invest in the commercial property market, they should go directly to the free zones. There, they will be given the benefit of reduced business administration fees and other related charges and added tax benefits. In addition, the legal system here is very strong and well-developed. These two factors make it a very attractive proposition for investors to get involved in the real estate market of the United Arab Emirates (UAE). The UAE authorities are constantly trying to promote the growth of the commercial real estate market and license management in order to provide maximum opportunities for businesses.
The UAE has a lot of natural environs that offer a lot of opportunities to investors. They include the Arabian Desert, the rocky coasts of the Persian Gulf, the sand dunes of the south-western corner, the majestic Persian Gulf beaches, and the coral reefs of the Indian Ocean. All of these areas offer an excellent environment for the commercial development and expansion of businesses. A large number of new and upcoming business establishments are being set up in the economic zones. Some of the well-known zones in the world include the Dubai World Trade Centre, the Dubai Marina, and the Dubai Festival City.
The economic zones have really come into their own as far as attracting tourists is concerned. People from all over the world travel to the UAE to experience its alluring culture and tradition. The tourism industry is expected to grow at an alarming rate in the coming years. Whether it is commercial or residential development or both, the economies of the economic zones are set to benefit greatly.
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