Dubai named among best cities for business

Knight Frank has named Dubai one of the best cities for business and investment.

The Global Cities 2016 Report from the world’s renowned consultancy Knight Frank named Dubai among the five best cities for business and investment in real estate.

According to Knight Frank, international investors’ attention in the near future will focus on the developing cities like Dubai. Among other global centers most attractive for real estate investors there are also Kuala Lumpur, Bangkok, Nairobi and Moscow.

"Dubai is developing mega projects, mainly airports, in order to maintain the momentum behind its commercial success," says Hafeez Abdullah, Chairman of The H Holding Enterprise, one of the renowned investment groups in the Emirate. "The emirate is playing a dominant role in building new business districts, developing new residential projects, shopping centres, leisure facilities, and offices."

"Dubai realty market is well geared to tackle difficult market situations. We are witnessing strong interest from investors keen to benefit from lower market prices," Abdullah added.

A special role in Dubai’s future development Knight Frank report gives to a further expansion of the Dubai international airport and the neighboring aerotropolis Dubai South, which encompasses thousands of square feet of residential, commercial and hospitality real estate. In 2014, Dubai International Al Maktoum Airport became the busiest airport in the world having outperformed even London’s Heathrow: in 2014 Dubai Airport handled 70 million passengers and this number is growing every year.

Over the past 15 years, Knight Frank report said, Dubai had become a city of superlatives in many sectors: the world’s tallest building Burj Khalifa was constructed here, as well as the largest mall in the world, and the largest man-made island, while a number of other astonishing projects are planned for completion in future years. Thus, in the coming years, Dubai will stay among the world’s leading centers for business and investments.

"We see a promising 2016 ahead, though at a slower pace of growth, given the market scenario. We believe this is normal, and could be a natural stabilisation in any realty market around the world," Abdullah said.

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