Dubai is back on the world radar! One might even say that it never left. Here are five reasons why 2012 was a splendid year and the coming years would be even more spectacular for Dubai.
5. Fashion explosion
The retail sector in Dubai is world famous. Now Dubai is attracting different kind of fashion. A popular European reality show is coming to Dubai. Germany’s Next Top Model a reality show with aspiring model contestants would be filmed in Dubai, under the careful direction of the host and co-producer Heidi Klum.
“It’s one of the highest-rated television programme in Europe with about seven million viewers. I have been working with the producers for the last couple of months and it’s very exciting to bring them here,” says Simon Lock, the CEO of Lock Group. “We are also filming at the Meydan race course and also at Bab Al Shams and Atlantis, The Palm.”
4. Property boom
The year 2012 has been an excellent year for the property sector in Dubai.
“Since December 2011, we anticipated the following year will be a very strong one for the properties sector,” said Ammar Shata, Executive Director and Chief Executive Officer of Al Khabeer Capital, a Saudi investment and asset management firm. He also added that the momentum is expected to continue into the proceeding year.
“Our vision is based on the critical political situation in the [Gulf] region, and how Dubai is a safe-heaven to calm the concerns of the capitals in the Gulf region. Kuwaiti investors have transferred good sum of money to Dubai earlier 2012. The Egyptians also did. And now the Saudis are transferring some of their fortunes,” he was reported stating by Gulf News.
“On the Gulf level, Dubai has become the business financial center, exactly like what Lebanon was in sixties and seventies (of the last century) for the Middle East,” Shata said.
3. The MICE industry
The Meetings, Incentives, Conferences and Exhibition (MICE ) Industry has started to boom in Dubai. It is evident with the World Conference on International Telecommunications 2012, which is held in Dubai.
Generally considered one of the most important conferences in the field of telecommunications, the conference is organized by the International Telecommunication Union (ITU), the United Nations’ specialized agency for ICTs and will review the current International Telecommunications Regulations (ITRs), the global treaty that regulates the telecommunications industry.
For the development of the MICE Industry JW Marriot Marquis, which is the world’s tallest hotel tower has been launched in Dubai. Unlike many of the other luxury hotels in Dubai ,JW Mariott Marquis will play an important role.
The opening of the JW Marriott Marquis is expected to significantly boost Dubai’s position in the industry”, says Rupprecht Queitsch, general manager for JW Marriott Marquis. “That’s the purpose of the hotel [to host] either corporate meetings, incentive meetings, any kind of meetings,” he says.
“Dubai currently is not in the world’s top destinations for conventions so we are building this up. We have a large convention coming in January for 700 rooms for five nights, which is business that typically would not have come to Dubai, so now we are competing with the likes of Lisbon, Madrid and Berlin,” he has been speaking to Arabian Business.
2. Theme park-
Dubai plans to build a 10 billion dirham complex of five theme parks, including one focused on India’s Bollywood cinema industry, to expand its booming tourism sector. The first stage would be completed by 2014.
“This theme park designed in Dubai, when fully completed would rival the likes of Disney!” Peter Man, a PR entrepreneur based in America. “For nearly a century, Disney has been hailed as one of the best theme parks in the world.
1. Mohammad Bin Rashid City
A new jewel in Dubai, Mohammed Bin Rashid City. A $408m project will help the emirate showcase its brilliant infrastructure facilities helping to boost its bid to host the World Expo 2020. It would comprise of four components. The first component would focus on family tourism and will include a park that is equipped to receive 35 million visitors. It would house the largest family centre for leisure and entertainment in the Middle East, Africa, the Indian subcontinent and the region.
The second would focus on retail. It will feature the largest shopping mall in the world, “Mall of the World”. It will be capable of receiving 80 million visitors a year, and include over 100 hotel facilities to meet the accommodation requirement of the tourist city.
The third component will include the largest area for arts galleries in the Mena region. The fourth component will see the development of a unique area that will provide an integrated environment for entrepreneurship and innovation in the region.
We would love to know your thoughts. Please let us know in the comments!