The regional real estate, construction and hospitality sectors have been turned upside down over the last two years, with Covid-19 bringing these sectors to a halt. The impact of the pandemic remains, however, the resurrection of these vital sectors across the region is a welcome relief because they support the development of modern cities, which in turn have attracted commerce and tourism to the Middle East and North Africa.
This latest edition of Law Update, provides vital insights, updates and commentary on the latest trends taking shape across the real estate, construction, hotels and leisure sectors. The articles within this edition cover a broad range of topics, from what’s next for real estate in Dubai, to commentary on Saudi real estate, a market that is set to become the main bedrock of the region for years ahead. You will find articles on reforming real estate laws in Qatar, foreign investment and ownership in Oman, and mitigating risks on hotel construction projects and the lessons learnt from Covid.Read the full report
Emirates, one of the world’s leading airlines, has worked in conjunction with Al Tamimi & Company, the Middle East’s largest law firm, to produce an expert guide on ‘Doing Business in Dubai’. The book, released at a buoyant time for the Dubai economy, is aimed at supporting long-term growth of the economy.
As part of Al Tamimi’s wider ‘Doing Business in Dubai’ series, this edition acts as a concise guide to operating a business in Dubai, providing companies and individuals with the vital information they need when considering relocating operations in the Emirate, including business structures and employment issues. The book aims to provide a greater understanding of both the business and legal aspects of operating in Dubai, outlining business activities, employment law and investment considerations.
Recent forecasts by the Department of Economic Development predict that Dubai’s economy will grow by around 4.7% this year, increasing to over 5% in 2015. The potential of the market is likely to attract foreign entities to consider relocation to Dubai to take advantage of the subsequent benefits such as zero tax, 100% foreign ownership, a wealth of skilled workers, and central geographical locations for access to both East and Western markets.
Sheikh Majid Al Mualla, Emirates’ Divisional Senior Vice President, Commercial Operations Centre, added:
“Dubai is a thriving business destination and its success has inspired people from all over the world to adopt it as their base. In working with Al Tamimi to provide an easy-to-read guide to doing business in Dubai, we hope to assist those looking to enter the ecosystem here in building solid foundations for their future growth.”
Husam Hourani, Managing Partner at Al Tamimi, said:
“Confidence is high in Dubai and its economic prospects are encouraging. Universally recognised as business-friendly and stable, Dubai offers businesses quality infrastructure, services and skilled workers, which are all vital elements in establishing a successful organisation.
“Understanding the specific dynamics of Dubai and how to operate here is key to ensuring business success. Our legal experts authored this book to provide an informative and valuable guide to operating in this market. It is designed to help new entrants and entrepreneurs wanting to break into the market and established firms looking to expand. We hope this book helps all businesses as they navigate the legislative landscape and look to better understand cultural nuances.”
An electronic copy of the guide can be found here.