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RTA plans better transport links between Dubai and Sharjah
Dubai's Road and Transport Authority (RTA) is said to be planning new water buses that will link the city with the neighbouring emirate of Sharjah.Speaking to the Khaleej Times, chief executive officer of Public Transport Agency at the RTA Dr Yousif Mohammed Al Ali said some feasibility studies are being carried out.Although Sharjah is less than 20 km away from Dubai, the main road that links the two cities can become quite congested and journey times rise significantly during peak periods.Both emirates are based on the coast, so it should be easy enough to put on boat services between the destinations, which will help to relieve some of the strain on the road network.The need for new modes of public transport has become more pressing, as experts believe that Dubai's population will continue to grow sharply in the coming years.”Currently, there are inter-city buses connecting Dubai and Sharjah and we see no reason why there would be no possibility of developing marine transport on similar lines,” Mr Al Ali was quoted as saying.”It is part of the RTA masterplan to improve the public transport network and develop the different modes of transportation. However, it would be too early to announce a date when any new routes would take effect,” he continued.The UAE's transport infrastructure has coped remarkably well with the huge number of people moving to Dubai and other parts of the country in recent years.Airports in Abu Dhabi, Dubai and Ras al Khaimah have all been very busy and air links between different emirates have improved considerably.In Dubai itself, there have been talks of a major expansion of the already-impressive Metro network, which connects numerous important business districts and other popular points of interest with residential areas.The RTA is very ambitious and its future plans will undoubtedly make the emirate even more attractive to investors and people who are considering relocating to the Middle East on a permanent basis. Continue reading
Dubai leader welcomes young investors
A group of young investors have been welcomed to Dubai by the city's ruler His Highness Shaikh Mohammad Bin Rashid Al Maktoum.The UAE prime minister took time out to speak with 36 members of the Zurich-based Young Investors Organisation and he offered a few words of advice to the youngsters, the WAM news agency reports.Mr Al Maktoum said he was pleased that they had chosen to explore the many investment opportunities that Dubai has to offer, particularly in the renewables sector.The meeting took place at the Dubai International Financial Centre and the group will also host a three-day forum in the emirate.Dubai's tourism industry has grown significantly over the years and the city's property market has also recovered well in the past 12 months, so it is no surprise to see the next generation of investors turning their attention towards the UAE.Mr Al Maktoum told the news provider: “Dubai is pleased to welcome ambitious young investors who are looking for a safe place to settle down, live, invest and achieve personal goals and to contribute to the economic growth of the country they invest in.”He added that Dubai's meteoric rise is a good example for ambitious investors to follow, as the city clearly knows what it takes to overcome tricky obstacles.”The global financial crisis was the major challenge facing us, but we by nature love challenges because we are the people of the desert,” the Dubai ruler continued.A recent study by Jones Lang LaSalle highlighted just how strong Dubai's real estate sector is at the moment.While residential buildings have been selling well for quite a long time, the demand for offices and other commercial properties has been largely subdued – until now that is.The research indicated that all divisions of the city's real estate market are in a strong position to grow in 2013 and this is the first time this has happened since mid-2008. Continue reading
Dubai consumers ‘are feeling good about the economy’
Consumers in Dubai are far more optimistic about the state of the economy than they were just a few months ago, a new study has shown.According to the Dubai Department of Economic Development's (DED's) latest Consumer Confidence Survey, 90 per cent of people living in the emirate in the first quarter of 2013 were happy that things were looking up.This was a significant improvement on the fourth quarter of 2012, when 74 per cent of survey respondents felt the economy was in good shape.In addition to this, around 95 per cent of citizens think that Dubai's gross domestic product will expand by the end of this year.Leaders at the DED believe that rising real estate prices and the booming tourism sector are two of the main factors behind this renewed sense of optimism.Indeed, 66 million tourists are expected to visit Dubai in 2013 and local businesses will obviously benefit from the influx of holidaymakers and business travellers.Encouragingly, the research also indicated that more people who live in Dubai are predicting better job opportunities in the near future. Some 87 per cent said they expect to see more job vacancies cropping up in the next 12 months.Meanwhile, 82 per cent of workers in the city rate their current job prospects as either “good” or “excellent”, which is up from 71 per cent in the fourth quarter of 2012.”The prevailing consumer sentiment in Dubai shows an increasing level of confidence in the emirate's ability to stimulate economic activity, create jobs and generate wealth,” commented director general of the DED Sami Al Qamzi.”Dubai's bold announcements of a strong commitment to development and pledge to make the emirate more attractive for investment and business is producing the desired results.”Another recent study – this time conducted by Friends Provident International – appeared to back up Mr Al Qamzi's suggestions, as it revealed that investors are increasingly seeing the UAE as a safe haven and Dubai-based property assets are in particularly high demand at the moment. Continue reading
