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Industries That Are Thriving In Dubai’s Economic Sphere

Thriving In Dubai’s Economic SphereDubai is known for its flourishing economy. In a matter of years, this Emirate has already established itself in terms of economic stability, all thanks to smart economic policies and opening itself to lots of investors who are willing to take the risk.   A lot of business owners, both local and foreign, see the potential of making it big in this city.

But there are certain industries that are definitely thriving in Dubai economy, and if you are planning to go for an offshore company formation in Dubai, you might consider one of these industries to jumpstart your business success:

  • Real estate and construction business

 

The real estate industry in Dubai is looking attractive year by year. Before the year closes, the real estate market is looking up on closing at least 480,000 units just for the residential units. But the great news about this is, this industry who was looking a little bit gloomy last 2016 was able to bounce back to kick start the progress. In just the first five month of 2017, Dubai realtors was able to close 5,400 residential units, a bit higher than its 2016 performance for the same duration. All it takes was a little tweaking on the pricing and excellent promotion.

 

Following the comeback of real estate is the construction industry which was considered one of the key drivers of Dubai economy this year. With a lot of prospects and investment coming in, infrastructures are expected to be finished and erected in the coming years, pushing this industry a bit more.

 

  • Tourism

 

Dubai may not be as green as other location are, but the distinct and sandy district was able to pull off a magnificent weight to help drive the economy, all thanks to a rigorous promotion of the Dubai tourists spots which makes it more attractive to outsiders, even its citizens. The first quarter of 2017 has been a fruitful period for Dubai’s tourism who recorded at least 8.6 million international tourist coming in the country, which is 10.6% higher than the previous year. The jumpstart of travel and tourism in Dubai paved way for lots of company formation in Dubai free zones.

  • Service-providing industries

 

With the rise of different industries, would-be business owners are looking for ways to penetrate the market. To answer this need, companies offer a number of business-related services that can help entrepreneurs set up their business in Dubai. These services include company formation, accounting and auditing, office space leasing, and many more.

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