Dubai world

Pragma witnessed first hand the property boom in Dubai during 2004-2006, working on several notable projects. However, the financial crisis hit the country hard and many projects in the city were suspended or cancelled.

In recent years we have seen another boom in Dubai real estate, through forward-thinking policies, innovative investments, and strategic planning. By examining these efforts, we gain insight into the trajectory and potential of Dubai's leisure and business sectors in the years to come.

Forward thinking policies
Dubai’s forward-thinking policies play a pivotal role in in shaping its future as an international tourist and business hub. Since 2010Dubai has increased its international visitor numbers by 105%, adding over 8 million tourists in under 15 years. This has been driven by relaxed visa rules in the UAE.

Schemes such as ‘transit visas’ allow passengers on all international airlines to enter the UAE for 96 hours at the airport. Free visas on arrival are available for the citizens of 91 nations including the USA, UK, and Russia, as well as the EU member states. Furthermore, policy to encourage business to flourish in Dubai has contributed to an increasingly diversified service-based economy that has reduced Dubai’s reliance on the oil sector. Lower taxes, reduce bureaucratic hurdles and simplified licensing procedures has meant that since 2010, the Government of UAE has issued 250% more licences for businesses in Dubai.

Innovative Investments
Dubai epitomises innovative architecture and infrastructure, cementing its status as a global pioneer in groundbreaking developments. From the iconic Burj Khalifa, the world's tallest building, to the forward-thinking Museum of The Future, Dubai consistently challenges architectural norms, earning worldwide recognition. Looking forward, Emaar, the developer behind Burj Khalifa, is involved in the construction of the Dubai Creek Tower, set to reach at least 828 metres in height. Taking inspiration from the iconic silhouette of a minaret, this landmark structure blends traditional Arabian design with futuristic aesthetics. Its observation deck will offer views across Dubai and towards the ocean.

Dubai's malls continue  to innovate. The new 'Storm Coaster' at Dubai Hills Mall is the world's fastest vertical launch roller coaster, while Ski Dubai at Mall of the Emirates offers an indoor skiing experience on the world's only black diamond run. The ski centre is also home to a colony of penguins. These existing attractions and future projects underscore Dubai's steadfast commitment to innovative investments.

Strategic planning
Dubai has strategically positioned itself as a global destination by hosting numerous international events, festivals, and conferences throughout the year. The recent Expo alone attracted a staggering 25 million visitors, underscoring Dubai's ability to draw a diverse global audience. Additionally, the city annually hosts prestigious events like the Dubai Boat Show, The Dubai World Cup (Horse Racing), and the Dubai Jazz Festival, further enhancing its reputation as a dynamic centre for cultural exchange and entertainment. Moreover, Dubai has strategically invested in transportation infrastructure to improve accessibility. Expansions to the metro line and innovative projects like autonomous electric water taxis have facilitated easier navigation around the city, connecting visitors to its major landmarks seamlessly.

Dubai's sustained appeal to global visitors and its growing local population create significant opportunities in retail and consumer markets. The ongoing launch of new retail destinations like the Dubai Hills Mall confirms further room for expansion in this sector. As Dubai's visitor numbers and population continue to rise, the need for more retail and F&B space will grow.

Charlie Gaisford