Long ago Dubai left its dependence on oil and gas reserves and turned into a trade and tourism hub. Boom in trading and tourism activities also increased the demand for its Dubai real estate sector. However, the economic crunch changed the situation and investors flew back to their home countries, abandoning their property in Dubai. Most of the businesses were closed or shifted to the neighbouring states. However passing through all the upheavals of past years, Dubai has made a comeback and reinforced its role as a stable and sound trading hub in the region. Entrepreneurs are expanding their businesses by apprehending the market situation.

This truth is supported by the stock market statistics of last month that reveal the stock market performed better than anywhere else in the world as businesses improved earnings so they paid higher dividends. The government officials claim that the city has no need to raise money from international bond markets this year.

Dubai, United Arab Emirates

The Viewpoint
It is expected that Dubai’s economy will expand and a few analysts have estimated that it will expand as much as five percent this year after growing more than three percent in 2018. This is one of the reasons that businesses are shifting back to Dubai and people are buying more and more commercial properties in Dubai.

The safety Factor
According to one of the analysts, Dubai is growing once again in transportation, logistics, tourism and the economy is being better managed currently from a couple of years prior to 2015. Businesses are coming back to Dubai due to political stability of the region. Therefore, economic growth and political stability both are favouring recovery in Dubai.

Decline in Costs
The decline in the cost of conducting business is also making Dubai more competitive. Dubai rent amounts have decreased around 65 percent on average as compared to the peak prices prior to 2015. Therefore, more and more businesses are shifting back to Dubai and the existing companies are expanding their businesses to take benefit from these opportunities.