Dubai was recognized as the first city in the Middle East and the second city in the world by its accessibility to register a new business. This is stated in a study conducted by the World Bank, based on the registration process duration for new businesses in different cities.
Dubai is rated the second in the world, when it comes to terms of issuing building permits, which is a key factor in attracting international businesses to the emirate. Such data is given in a recent report by the World Bank ranking global cities according to the demand for registration of new companies from international investors and conditions created for them. Denmark topped the rating for this category this year.
“This year’s World Bank Report also mentions that for the last five consecutive years, UAE has been ranked first in the Arab world and 21st in the world in business accessibility,” said Hussain Nasser Lootah, Director-General of Dubai Municipality.
Municipality of Dubai recently reduced the time needed for real estate and other transactions registration as well as for issuing building permits, and also introduced videoconferencing technologies to discuss new projects. When ranking best global cities as for the fastest business registration process, the quality criterion for the organizational "matrix" was also evaluated, which "contributed directly to obtaining higher estimates by Dubai." In fact, in terms of quality, Dubai scored 15 out of the 15 possible points in this category.
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Dubai real estate off-plan buyers and investors will also soon be granted a direct access to specially designed electronic control systems for construction process, enabling them to "access comprehensive data on multiple projects and their progress,” the Municipality of Dubai said in a statement.
Recent improvements introduced by Dubai authorities in the field of investor services also include the introduction of an improved rental index, the launch of a new smart app for evaluating real estate brokers’ performance etc.
Thanks to carefully designed projects of the highest quality, maintaining a consistently high capital value for a long time, Dubai's property market managed to attract AED 78 billion (USD 21 billion) of housing investments from January 2017 up to the present, the Dubai Land Department said in its official statement.
To learn more about the opportunities in investing in Dubai off-plan and ready projects (with average 8 per cent guaranteed annual ROI), please contact the head of IMEX Real Estate Oleg Lavrik:
Tel. in Dubai, Viber, WhatsApp, IMO: +971 (50) 2528188