Quadruple of Dubai Market 2013

Dubai flourished after a recession period the market indicators shows healthy signs for business. The report of Dubai Economic Outlook Quarter 2/2013 issued by the secretariat General of the Dubai Economic Council (DEC) indicated second quarter is better than the first quarter of the year. The report estimated the growth rate of real gross domestic product (GDP) to Dubai in the second quarter of 2013 by 4.7 per cent compared to the corresponding quarter of 2012. The four sector played a major role of boosting the GDP. wholesale & Retail, Transportation, Manufacturing and Real Estate.Lower budget deficit decrease from Dh 18billion in 2012 to Dh 1.5 billion in 2013 as a result of higher revenue about 7.2 per cent from about Dh 30.4 billion to Dh 32.6 billion increased government expenditure from about 5.8 per cent  from Dh 32.3 billion to Dh 34.1 billion between 2012-2013. As a percentage of GDP the budget deficit has dropped from 0.6 per cent in 2012 to less than 0.05 per cent. The reports indicates that the real estate sector in Dubai has Witnessed a new wave of growth during the second quarter of the year 2013 in terms of both money value & number of apartment. Dubai marina area ranked first with the value of transactions. With the largest transaction  made by 27% Indians, 17% British and 15% Pakistani. 

Tourism Sector Estimate of 5 million visitors during the first half of 2013. Saudi were the largest group. Hotel guest  during the second quarter of 2013 reach 2.12 million. Hotel occupancy rate is 80 per cent in the second quarter of 2013 as compared to the same quarter in 2012 it was 76 per cent. The value of Dubai foreign trade in the first half of the year achieved new level of records of 679 billion Dirhams as compared to 584 billion Dirhams with the increase rate of trade by 16% in the first half of the year 2013. Imports also touched the record of 406 billion Dirhams as compared with 349 billion for the same period of last year.

All these reports suggests that Dubai once again back on track, with the visionary thinking of H.H Sheikh Mohammad bin Rashid Al Makhtoum the UAE economy's vacuum now starts filling by attracting Foreign Direct Investment (FDI).


Thanks,



Muhammad Anas
Business Consultant
muhammad.anas@adamadvisors.com
+971-507045733








2A, Building 6 |  Gold & Diamond Park
PO Box 183827 | Dubai | United Arab Emirates
Switchboard:  +971 4 341 9701   |  Extension 150
Website: www.adamadvisors.com