The UAE has enjoyed a year of prosperity, despite the turmoil that has continued to affect much of the region, the country's national news agency, WAM, reported.
The economic recovery witnessed over the last few years has continued its momentum, having a notable positive impact on business confidence.
In Dubai, one driving factor behind the optimism fuelling growth is the World EXPO 2020. Dubai's successful bid to host the EXPO was announced in late 2013, and Dubai EXPO 2020 will be the first EXPO to held anywhere in a region that extends from Morocco to India. Expected to attract several million visitors, it will also create thousands of new jobs as well as enormous demand for new facilities, including housing and hotel rooms. Several key projects placed on hold at the time of the 2008 downturn have been dusted off and are now off the drawing board and into the construction phase.
Also well under way is work on Mohammed bin Rashid City, a mixed-use development that, when complete, will include a park able to receive 35 million visitors yearly, the largest family leisure and entertainment complex in the Middle East, Africa and the Indian Subcontinent.