CBRE: UAE Country View Q1 2010
Download Now
Latest News
The road to home finance has been a long one for the Kingdom, but with its highly anticipated mortgage law edging ever closer to ratification, would-be homeowners and financial institutions are gearing up for a new era of opportunity.
A reported US$600 billion worth of investment opportunity is up for grabs in the Kingdom between now and 2020, and with the country leading the region in the World Bank ease of doing business rankings, it’s attracting increasing interest.
The South-East Asian island has seen a number of distinctive developments come to fruition over the past few years as the country further establishes itself.
The United Arab Emirates comprises seven emirates and is ruled by a Supreme Council.
The country is oil-rich but, following a diversification programme, it is now also known as a financial centre. Dubai in particular is now recognised as an international business centre with the population dominated by expatriates. Abu Dhabi is also growing in popularity for international business.
Islam is the main religion in the UAE although the Emirates are seen to be very tolerant towards other cultures and religions. This more liberal approach, together with the low tax regime, has been key to attracting foreign businesses to set up in the country. The UAE has one of the highest living standards and economic opportunities of almost anywhere in the Middle East and South Asia.
POPULATION
The United Arab Emirates borders Oman and Saudi Arabia. The Ministry of Economy estimates the population stands at nearly 5.1 million inhabitants. 79% of the population are of working age and around 85% are expatriates.
Abu Dhabi is the capital city but, because of the high number of foreign companies and expatriates, Dubai is the largest city in UAE with 1.7 million inhabitants. Abu Dhabi is therefore the second largest city at 1.6 million people.
Download Now
Your Comments
You must be logged in to add comments.