It’s official! The UAE is emerging as one of the most economically successful countries in the world, attracting a lot of interest from global investors. Thanks to its thriving economy and strategic initiatives that promise sustained growth.
Kashif Ansari, the Group CEO of Juwai IQI Malaysia, shared his thoughts on this dynamic in an exclusive interview with Gulf Today.
According to the World Bank’s latest projections, the UAE’s real GDP is set to grow by 3.9% in 2024 and further accelerate to 4.1% in 2025.
These updated forecasts underscore the UAE’s resilience and leadership in the Middle East, where regional growth is expected to reach 2.8% in 2024 and 4.2% in 2025.
Ansari emphasised Dubai’s real estate market as a pivotal driver of this economic boom, describing it as the “new global currency.”
A recent announcement allowing property owners along Sheikh Zayed Road and in Al Jaddaf to convert their holdings to freehold ownership is expected to significantly boost investment.
This move aligns with the ambitious Dubai Real Estate Strategy 2033, reinforcing the emirate’s position as a hub for sophisticated, future-focused investors.
On the energy front, Ansari expressed optimism about the oil market, predicting prices to hover between $83 and $117 per barrel by 2025. This forecast is supported by recovering economies, a depreciating dollar, and anticipated supply shortages.
Meanwhile, Dubai is also making strides in technology, positioning itself as a regional data hub. In collaboration with global private equity firm KKR & Co., Dubai’s Gulf Data Hub plans to invest $5 billion to expand its data centre capacity across the UAE and the Middle East.
This initiative is a testament to the UAE’s commitment to diversifying its economy and embracing innovation.
With its forward-looking strategies and robust economic performance, the UAE will continue to shine as a beacon for global investors seeking growth and innovation.
Juwai IQI was featured in Gulf Today.
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