390 likes | 506 Views
DUBAI – THE MOST IMPORTANT CITY IN THE WORLD?. ECONOMY. GDP 2008 $82.11 BILLION (SIMILAR TO KUWAIT AND PERU) DUBAI ’ S ECONOMY BUILT ON OIL INDUSTRY NOW ACCOUNTS FOR <6% OF REVENUES 2% OF UAE GAS REVENUES OIL EXPECTED TO BE GONE IN 20 YEARS. ECONOMY. REAL ESTATE & CONSTRUCTION - 22.6%
E N D
ECONOMY • GDP 2008 $82.11 BILLION (SIMILAR TO KUWAIT AND PERU) • DUBAI’S ECONOMY BUILT ON OIL INDUSTRY • NOW ACCOUNTS FOR <6% OF REVENUES • 2% OF UAE GAS REVENUES • OIL EXPECTED TO BE GONE IN 20 YEARS
ECONOMY • REAL ESTATE & CONSTRUCTION - 22.6% • TRADE – 16% • ENTREPOT (WAREHOUSE)– 15% • FINACIAL SERVICES – 11% • TOURISM - 10%
ECONOMY • TOP EXPORTS TO INDIA ($5.8 BILLION), SWITZERLAND ($2.37 BILLION) & SAUDI ARABIA ($0.57 BILLION) • TOP IMPORTS ARE FROM INDIA ($12.55 BILLION), IRAN ($5.8 BILLION), IRAQ ($2.8 BILLION) & U.S. ($7.57 BILLION) • INDIA (AS OF 2009) DUBAI LARGEST TRADE PARTNER
KEY ADVANTAGES I. STRATEGIC LOCATION: BETWEEN THE FAR EAST AND EUROPE ON THE EAST-WEST AND AFRICA ON THE NORTH-SOUTH AXIS
KEY ADVANTAGES GATEWAY TO A MARKET • LARGE - WELL ESTABLISHED TRADING LINKS WITH >1.5 BILLION PEOPLE IN THE REGION COVERING THE GULF, MIDDLE EAST/EASTERN MEDITERRANEAN, CIS, CENTRAL ASIA, AFRICA AND THE ASIAN SUB-CONTINENT
KEY ADVANTAGES • GROWING - INTERNATIONAL TRADE HAS >11% PER YEAR(AVG) SINCE 1988
KEY ADVANTAGES • PROSPEROUS - AMPLE SUPPLIES OF CHEAP ENERGY AND PRIMARY ALUMINUM; ALSO ADJACENT TO MAJOR REGIONAL SUPPLIERS OF VITAL AGRO-EXPORT COMMODITIES .
KEY ADVANTAGES • DIVERSIFIED - VARIED AND SIGNIFICANT IMPORT REQUIREMENTS GENERATE OPPORTUNITIES FOR PRODUCT SUPPLIERS AND RE-EXPORTERS • OPEN - NO EXCHANGE CONTROLS, QUOTAS OR TRADE BARRIERS
KEY ADVANTAGES • ACCESSIBLE - SERVED BY OVER 120 SHIPPING LINES AND LINKED VIA 85 AIRLINES TO OVER 130 GLOBAL DESTINATIONS;
KEY ADVANTAGES POLITICAL AND ECONOMIC STABILITY: PART OF UAE LOW-CRIME AND POLITICALLY-STABLE COUNTRY • ALSO, THE UAE ENJOYS FINANCIAL AND MONETARY STABILITY
KEY ADVANTAGES • THE GOVERNMENT HAS A LONG, CONSISTENT COMMITMENT TO PRO-BUSINESS, LIBERAL ECONOMIC POLICIES INCLUDING THE PROTECTION OF PROPERTY RIGHTS. FOREIGNERS ARE PERMITTED OWNERSHIP RIGHTS OF UP TO 49% FOR LIMITED LIABILITY COMPANIES ESTABLISHED
KEY ADVANTAGES • UP TO 100% FOR PROFESSIONAL COMPANIES, BRANCHES AND REPRESENTATIVE OFFICES OF FOREIGN COMPANIES AND FREE ZONES ENTERPRISES
KEY ADVANTAGES III. OPEN AND FREE ECONOMIC SYSTEM: NO DIRECT TAXES ON CORPORATE PROFITS OR PERSONAL INCOME (EXCEPT FOR OIL COMPANIES THAT PAY A FLAT RATE OF 55% AND BRANCHES OF FOREIGN BANKS THAT PAY A FLAT RATE OF 20% ON NET PROFIT GENERATED WITHIN DUBAI).
KEY ADVANTAGES • CUSTOMS DUTIES 4% WITH MANY EXEMPTIONS, • 100% REPATRIATION OF CAPITAL AND PROFITS IS PERMITTED, THERE ARE NO FOREIGN EXCHANGE CONTROLS, TRADE QUOTAS OR BARRIERS • LIBERAL VISA POLICIES PERMIT EASY IMPORTATION OF EXPATRIATE LABOR OF VARIOUS SKILL LEVELS FROM ALMOST ALL OVER THE WORLD CANADA
KEY ADVANTAGES IV. WORLD CLASS INFRASTRUCTURE AND SERVICE SECTOR • HEAVY INVESTMENT IN TRANSPORT, TELECOMMUNICATIONS, ENERGY AND INDUSTRIAL INFRASTRUCTURE HAS ENABLED IT TO HAVE ONE OF THE BEST INFRASTRUCTURE FACILITIES IN THE WORLD
KEY ADVANTAGES • 21 SPECIALIZED FREE ZONES OF INTERNATIONAL DISTINCTION • TWO WORLD CLASS SEAPORTS • A MAJOR INTERNATIONAL AIRPORT (WITH A NEW ONE CURRENTLY BEING BUILT - UPON COMPLETION WILL BE THE BIGGEST AIRPORT IN THE WORLD) • CARGO VILLAGE, A MODERN HIGHWAY NETWORK (AND AS OF END OF 2008 A DRIVERLESS METRO SYSTEM AND UPGRADED PUBLIC BUS TRANSPORT SYSTEM)
KEY ADVANTAGES V. COMPETITIVE COST STRUCTURE • NO FOREIGN EXCHANGE CONTROLS • NO TRADE BARRIERS OR QUOTAS • COMPETITIVE IMPORT DUTIES (5% WITH MANY EXEMPTIONS) • COMPETITIVE LABOR COSTS – LABOR FORCE IS MULTI-LINGUAL AND SKILLED • COMPETITIVE ENERGY COSTS • COMPETITIVE REAL ESTATE COSTS • NO CORPORATE PROFIT OR PERSONAL INCOME TAXES
KEY ADVANTAGES VI. HIGH QUALITY OF LIFE, EXCELLENT LIVING CONDITIONS • DUBAI’S PRIVATE SECTOR HAS INVESTED HEAVILY IN REAL ESTATE SUCH AS HOTELS, RESIDENTIAL AND COMMERCIAL PROPERTIES, RECREATIONAL AND LEISURE FACILITIE • LOW CRIME, CLEAN ENVIRONMENT, TOLERANCE AND CULTURAL DIVERSITY, COSMOPOLITAN LIFE STYLE, MODERN PUBLIC ADMINISTRATION, AVAILABILITY OF A WIDE RANGE OF CONSUMER GOODS AND SERVICES
KEY ADVANTAGES VII. STRONG LOCAL COMMERCIAL TRADITION AND WIDE CHOICE OF POTENTIAL BUSINESS PARTNERS
KEY ADVANTAGES VIII. EXTENSIVE FOREIGN TRADE NETWORK & MAJOR ACHIEVEMENTS IN EXPORT AND RE-EXPORT PERFORMANCE • EXTENSIVE FOREIGN TRADE NETWORK EXTENDING TO 179 STATES THUS OFFERING EXTENSIVE CHOICE OF POTENTIAL GLOBAL MARKETING OUTLETS • PART OF THE WORLD’S THIRD-LARGEST EXPORT AND RE-EXPORT CENTRE AFTER HONG KONG AND SINGAPORE.
KEY ADVANTAGES IX. RAPIDLY DEVELOPING MANUFACTURING SECTOR PRODUCING A WIDE RANGE OF HIGH QUALITY, COMPETITIVE EXPORT PRODUCTS • ALUMINUM INGOTS, FABRICATED METAL PRODUCTS, TEXTILES AND READY-MADE GARMENTS, GOLD AND JEWELLERY, PREPARED FOODSTUFFS, CONSUMER ELECTRONICS, REFINED PETROLEUM, CHEMICAL AND NON-METALLIC MINERAL PRODUCTS
ECONOMY • GOV’T DECISION TO SHIFT FROM RELIANCE ON OIL TO SERVICE TOURISM- ORIENTED CITY (2004-2006) • 2007 – RANKED 8TH AS MOST VISITED CITY – 6.54 MILLION • EXPECTED TO TO 15 MILLION TOURISTS BY 2015 • LARGE SCALE DEVELOPMENT PROJECTS TO TALLEST SKYSCRAPERS & DEVELOPMENT PROJECTS IN THE WORLD.
CONSTRUCTION • EMIRATES TOWERS – EMIRATES OFFICE TOWERS (1,165’ – 12TH TALLEST BUILDING IN THE WORLD) & JUMEIRAH EMIRATES TOWERS HOTEL (1,014’ – 29TH TALLEST BUILDING IN THE WORLD) • COST $1.8 BILL • COMPLEX 42 ACRES • GARDENS, LAKES, • WATERFALLS, AND PARKING FOR 1800 CARS
CONSTRUCTION • BURJ KHALIFA– TALLEST BUILDING IN THE WORLD (2,717’) • $1.5 BILLION COST • RENT – SQ. FT. $4,000 • RESIDENCES SOLD FOR $3,500 FOR SQ. FT. • 900 APARTMENTS – 825 STILL EMPTY (PRICE 40%)
CONSTRUCTION • PALM ISLANDS– MAN MADE ARCHIPELAGO (ISLANDS) • PALM JUMEIRAH – 2,500 APARMTMENTS, 1,140 VILAS, 32 HOTELS – $12.3 BILLION • PALM JEBEL ALI – 50% LARGER THAN JUMEIRAH – 6 MARINAS, WATER PARK, SEA VILLAGE, HOMES BUILT ON STILTS • PALM DEIRA – 8 TIMES LARGER THAN JUMEIRAH, INTENED TO HOUR 1 MILLION
CONSTRUCTION • PALM ISLANDS– MAN MADE ARCHIPELAGO (ISLANDS)
CONSTRUCTION • THE WORLD ISLANDS – COSTS $14 BILLION • AS OF 2011 ONLY ONE ISLAND OCCUPIED BY A BUILDING (SHOW HOME) • 260 ISLANDS • CONSTRUCTION STOPPED • SINKING?
CONSTRUCTION • THE DUBAI MALL– LARGEST (BY AREA) IN WORLD (6TH BY GROSS LEASABLE AREA) • $20 BILLIOIN COMPLEX • 1,200 SHOPS (2008 – 600 RETAILERS) • 10-15 MALLS WITHIN MALLS • 2009 – 37 MILLION VISITORS • 2010 – 47 MILLION (27%) –DEPISTE EC • ATTRACTIONS – SEGA INDOOR THEME PARK, KIDZANIA, 22 SCREEN CINEPLEX, 160 FOOD AND BEVERAGE OPTIONS, 250 ROOM HOTEL, 120 RESTAURANTS AND CAFES, ICE RINK,
CONSTRUCTION • AQUARIUM AND UNDER WATER ZOO, • $20 BILLION MALL
CONSTRUCTION HYDROPOLIS UNDERWATER HOTEL AND RESORT • PROPOSED PROJECT • COST - $300 MILLION • TARGET – TO OPEN 2006 2010 NO CONSTRUCTION
CONSTRUCTION SKI DUBAI • INDOOR SKI RESORT • 60M HIGH INDOOR MOUNTAIN (5 SLOPES OF VARYING STEEPNESS AND DIFFICULT) • $400 MILLION
DUBAILAND – VIEWED AS A SEPARATE CITY • ESTIMATED COST $325 BILLION • AREA – 3 BILLION SQ. FT • 7 THEMES (THEMEPARKS, CULTURE & ART), SCIENCE & PLANETARIUMS, SPORTS & SPORTS ACADEMIES, WELLBING & HEALTH, SHOPPING & RETAIL AND RESORTS & HOTELS • 45 MEGAPROJECTS AMD 200 SUB-PROJECTS • TO-DATE – 22 PROJECTS UNDER CONSTRUCTION • 3 ATTRACTONS OPEN (NOT COMPLETE) – DUBAI MOTOR CITY, GLOBAL VILLAGE, AL SAHARA DESERT RESORT