Dubai’s Top-Notch Infrastructure Fuels Economic Growth
In a recent evaluation, Dubai’s transportation infrastructure has garnered global recognition, securing its place as one of the world’s leading systems. This accomplishment highlights the substantial investments made by the Dubai government to drive the city’s overall economic progress, with a particular emphasis on fostering growth within the industrial sector.
Dubai’s Remarkable Growth:
Over the past decade, Dubai’s industrial sector expanded by a notable 10.7%, which demonstrates the city’s commitment to industrial development. While Hong Kong, Singapore, and Shanghai experienced higher growth during this period, the report predicts that Dubai will outpace them in the next decade, with a projected industrial growth of 57.4%.
Thriving Financial and Business Services:
Dubai’s financial and business services sector also witnessed remarkable growth, expanding by 55.6% during the surveyed period. Only Shanghai, with a growth rate of 114.3%, outperformed Dubai in this area.
Knight Frank’s report applauds Dubai’s aviation infrastructure, ranking it third in the world, trailing behind only China and the United States. This recognition highlights Dubai’s status as a global transportation hub.
Strong Ports Infrastructure:
Dubai’s ports infrastructure secured the fourth position globally, further emphasizing the city’s prowess in trade and logistics.
Affordability for Industrial Activity:
When it comes to the affordability of running industrial operations, Dubai stands out as a cost-effective choice. The rental cost for prime industrial spaces in Dubai is set at $103 per square meter. This means that if you need space for your industrial activities, you can rent it for this amount per square meter.
What’s interesting is that Dubai’s price of $103 per square meter is competitive. For instance, in Shanghai, a major economic center in China, it’s just slightly lower at $101 per square meter. This means Dubai offers businesses the advantages of a great location and infrastructure without high costs. This makes Dubai a good choice for those who want affordability without giving up on quality and convenience.
Strategic Economic Goals:
The report underscores the significance of Dubai’s industrial sector in the UAE’s economic diversification plan (UAE Vision 2021) and Dubai’s Industrial Strategy 2030. The development of this sector has been considered as an important thing for the long-term success of the economy.
To sum it up, Dubai’s top-tier transportation system shows its dedication to growing and improving its economy. With big investments in different areas and bold plans for the future, Dubai is set to keep growing as a strong global economic player. It plays a crucial role in the UAE’s goal for a diverse and thriving economy.