01
Jun
09

The Magic of Dubai City

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Dubai City – 29th May

Dubai is simply magical. With the economic slowdown hitting the world, the rise in oil prices expected to reach USD80 a barrel in the last quarter of the year and investment giving in to recession, the country amazes with its impression of ease and business as usual.

Dubai has just launched the opening one of the biggest mall in the world, the Dubai Mallhttp://www.thedubaimall.com/en – which is located next to the tallest building in the world the Burj Dubai. A look at the tall, towering magnificence in the skyline of Dubai shows the greatness of the tiny nation state of the United Arab Emirates. While the Dubai Mall is nothing that I have ever seen in my travelling life, the Burj Dubai is the epitome, the iconic expression of Dubai’s resillience to recession and a sign that more prosperous times are ahead for the UAE.

The Dubai Mall is part of the US $20 billion Downtown Burj Dubai development, which is also being built by Emaar Properties. The Dubai Mall is one of the biggest malls in the world, and the largest in the region in terms of shops open. There are around 600 shops open on November 4th, 2008. This is the largest mall opening in the world in terms of the number of retailers opening simultaneously. Retailers are continuing to complete their shops, and will open on an ongoing basis in the mall.

The Dubai Mall was developed and is operated by Emaar Malls Group, the retail subsidiary of Emaar Properties – a global property developer that also built the Burj Dubai, next door to the Dubai Mall. The Burj Dubai is today the tallest building in the world, standing at an awesome 818 metres high with 162 floors and a retail space of 9 million square feet. For more info: http://www.designbuild-network.com/projects/burj/

The government of Dubai is taking all the necessary measures to curtail the possible hardship the global recession may cause to the UAE. Only today it announced extraordinary measures that will help boost investment, both local and foreign, and will also help save jobs. The Dubai Government on Thursday said it will reduce business and licensing fees by 20 to 30 per cent and freeze the government fees on essential services to help the emirate’s private sector overcome the current economic slump. No new fees will be introduced.

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, issued orders to Dubai Government departments to reduce some of the government fees relating to business activities by 20 to 30 per cent while freezing the rest, according to a report by WAM.

The private sector is given a clear message that the UAE government will support them. overcome the current economic situation. “The move by His Highness will help the private sector companies reducing costs and manage businesses better.” said Abdul Rahman Saleh, the newly appointed director-general of the Department of Finance

Among the business community in Dubai, the move is seen as positive as it will help reduce the cost of doing business in the country at time when many small enterprises are facing hardships and are thinking of closing down in order to relocate outside Dubai.


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