The year was led by solid performance in established sectors of the economy, including financial services, transport, manufacturing and construction, which helped Dubai weather the knock-on effects of lower oil prices throughout 2015.
UAE: Dubai
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Economic update | Dubai Year in Review 2015
22 Jan 2016
Economic update | Dubai steps up ICT drive
22 Dec 2015
A raft of innovation-oriented projects worth some Dh300bn ($81.7bn), along with new legislation on government data sharing, is gaining pace in Dubai.
Increasing consumer awareness and growing demand for retail products are set to drive activity in Dubai’s Islamic financial services (IFS) sector, offering scope for sustainable expansion despite forecasts of slower short-term economic growth.
A growing oversupply in some segments of Dubai’s residential real estate sector is encouraging developers to reposition their offering towards mid-range buyers, as the market witnesses broader price adjustments.
On August 1, an increase in petrol charges came into force in Dubai and the rest of the UAE, following the announcement on July 22 by the Ministry of Energy (MoE) that the government is reducing the fuel subsidy it has traditionally paid.
Economic update | Dubai comes out ahead in Iran deal
24 Aug 2015
Iran’s recent deal with world powers is expected to create a raft of trade and investment opportunities for Dubai, widely seen as Tehran’s stepping stone to re-engagement with global markets.