UAE: Dubai

Having ridden out the global economic downturn, the IT industry looks set to continue its impressive expansion in Dubai, though it will have to deal with increased competition from within the region as well as further afield – especially Asia – as it seeks to attract new investors and clients.

A proposal to merge the operations of the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) appears to be gaining momentum, with stock market officials discussing a plan that could result in the creation of a powerful regional bourse better positioned to compete with nearby rivals and larger international operators.

Dubai’s construction sector is still dealing with the fallout of the global recession. Some segments are experiencing gathering momentum while others may have to look beyond 2011 before demand picks up and confidence returns.