DUBAI'S ECONOMIC DEVELOPMENT - 2015 DUBAI STRATEGIC PLAN INITIATIVE
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Special Advertising Section 2008
DUBAI’S ECONOMIC
DEVELOPMENT
2015 DUBAI STRATEGIC PLAN INITIATIVE
SUSTAINABILITY AND SECTOR DIVERSIFICATION
Economic development and diversification are cornerstones of the Dubai
Strategic Plan 2015, a policy document that builds on the emirate’s past
successes and charts the course forward for this city, which is already the
center of business, trade, tourism and finance in the region.
As demonstrated by its success, Dubai’s most valuable resources are not the
limited oil reserves underground, but rather its vision, its entrepreneurial
spirit and its welcoming and business-friendly culture.
The Strategic Plan’s economic development goals build on these assets
and seek to solidify Dubai’s regional and global position. They are as clear
as they are ambitious: double-digit GDP growth, increased per capita
income, higher worker productivity and an increasingly highly skilled
workforce. Dubai’s strongest sectors will lead this growth: travel and
tourism, banking and finance, professional services, transport and logistics,
trade industry and construction.
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Special Advertising Section 2008 Dubai 3
Dubai: Realizing Its INDEX
Ambition to Be a Global 3 Introduction
Center of Commerce 5 H.H. Sheikh Ahmed bin
Saeed Al Maktoum
Dubai Airports and
D
ubai is often defined by the spectacular Emirates Airline and Group
and superlative buildings and projects
that rise out of its desert sands, but 6 Paul Griffiths
what’s truly singular about this emirate is the Dubai Airports
attitude and vision that have nurtured these
projects. It’s the “can-do,” “anything is possi- 7 Khalid A. Bin Sulayem
ble” way of looking at itself, its people and its Department of Tourism and
possibilities that makes Dubai fertile ground Commerce Marketing
for such ambitious construction.
Such motivation begins at the top with 8 H.E. Hamad Mubarak
the emirate’s leadership – a family legacy Buamim
embodied today in His Highness Sheikh Dubai Chamber
Mohammed bin Rashid Al Maktoum, Vice
President and Prime Minister of the United 11 Helal Saeed Almarri
Arab Emirates and Ruler of Dubai. Last year, Dubai World Trade Centre
he announced the Dubai Strategic Plan 2015
in a bold effort to sustain and expand on the 14 Hashim Al Dabal and
emirate’s tremendous historic growth.
Mohamed Binbrek
A key component of the strategic plan is its
Dubai Properties Group
economic development goal, with three main
aims: economic growth, enhanced worker
18 Marzooq Rashed
productivity and sector development and di-
versification. Clear performance indicators Al-Rashdan
have been set in all three, including 11% an- Abyaar Real Estate
nual growth in real GDP, increasing per capita Development
H.H. Sheikh Mohammed
income to $44,000, increasing worker pro- bin Rashid Al Maktoum
ductivity by 4% a year and raising the share of 19 Khalifa Al Zaffin
Vice President and Prime Minister
high-skilled jobs in the economy from 20% of the United Arab Emirates Dubai World Central
to 25% – all between now and 2015. and Ruler of Dubai
Achieving the GDP growth target will 21 Colm McLoughlin
double Dubai’s GDP to $108 billion in 2015 Dubai Duty Free
from $54 billion in 2007, while nearly dou- veys the scale and diversity of what’s to come.
bling the current workforce to 1.73 million. The $4.22 billion, 47-mile-long Dubai 23 Samira Abdulrazzak
To achieve this, the plan focuses on six Metro is one of the most advanced urban rail Dubai Infinity Holdings
sectors: travel and tourism, financial services, networks in the world. Dubai World Cen-
professional services, transport and logistic tral, a 54-square-mile city built around what 25 Mohamed Al Neaimi
services, trade and storage, and construction. will be the largest airport in the world, will Mawarid Finance
These sectors represent some of the most be the only district of its kind to link port,
dynamic and fast-growing elements of the road and air facilities in a single bonded zone.
Dubai economy. Examples include: a mas- Dubailand, a 107-square-mile family leisure, This project was produced
sive real estate boom that has still not created shopping, recreation, tourism and entertain- by Intermedia, Dubai.
enough housing to meet residential and of- ment destination, is composed of more than
fice demand; tremendous growth in tourism, 24 mega projects. Business Bay, a 64-million- Project Director: Vivienne Davidson
which led to an 86% hotel occupancy rate in square-foot office and residential develop-
2007, the highest in the world; recognition ment along an extension of Dubai Creek, is Project Manager: Amy Boeker
that Dubai already is one of the world’s top 25 set to be “the region’s business capital.”
Cover image foreground:
international financial centers; and an influx of Dubai is proud of its welcoming and Mohammed Bin Rashed Gardens,
hundreds of thousands of professionals in fields business-friendly culture, entrepreneurial provided by Dubai Properties Group
as diverse as healthcare, media and aviation. spirit and absence of red tape.With the help of
As part of Dubai’s efforts to achieve these the Dubai Strategic Plan’s clearly articulated
goals, a number of massive projects are set to economic development goals, this thriving www.forbesspecialsections.com/dubai
transform the face of the emirate over the next emirate, and those living and working here,
decade. Just a sampling of a few of them con- can certainly achieve almost anything.
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Special Advertising Section 2008 Dubai 5
Dubai’s Aviation Sector: The
Backbone of Economic Success
Dubai’s airline and airport facilities are a central part of a policy document called the
Dubai Strategic Plan 2015, which seeks to grow the emirate’s GDP by 11% a year in real
terms over the next eight years.
T
he history of civil aviation in Dubai good year in terms of growth in passenger
began in 1937 when the city became numbers, expansion of network and addition
a stopover for seaplanes on Imperial of new destinations,” says Sheikh Ahmed.
Airways’ route connecting Karachi and Sheikh Ahmed lists a number of goals for
Southampton, England. During that time, the next 12 months, including passenger
two planes landed in Dubai each week. growth of at least 15%. The opening of
Seven decades later, in 2007, there were the new terminal later this year and the
260,530 aircraft movements at Dubai transition of all Emirates operations to the
International, with more than 34 million new facility “without any hitch” is “top-
passengers using the airport, a 19% increase most of our priorities,” he says.
in passenger traffic over 2006.This year, more But, he emphasizes, it’s the customer focus
than 40 million passengers are expected to at Dubai International that’s most important.
use the airport. “We want to give customers an experience
What’s more, by the middle of the next that is unparalleled and unmatched by any
decade, the city’s second airport, Dubai airport in the world,” he says.
World Central – Al Maktoum International, This sense of urgency to grow Emirates
is scheduled for completion, with a projected and Dubai Airports is not just for bragging
passenger capacity of 120 million and cargo rights, Sheikh Ahmed explains. Rather, it
capacity of 12 million tons. is central to Dubai’s long-term strategy to
H. H. Sheikh Ahmed bin Saeed Al Maktoum
The history of Dubai civil aviation President of the Dubai Civil Aviation Authority, become a leading global business, trade and
highlights two defining traits of Dubai and Chairman of Dubai Airports and Chairman and Chief tourism hub.
its leaders: Dubai has always served to link Executive Officer for Emirates Airline and Group “By enhancing the competitiveness of
different parts of the world and succeeded the economy with efficient transportation
at leveraging its location to its maximum benefit. services, [the transportation] sector influences business location and
Just as Dubai was an ideal stopping point on international routes in the expansion decisions, helps attract foreign investment… and integrates local
1930s, so too today is it ideally located – given the enormous range of companies with the global business community,” Sheikh Ahmed says.
today’s superjumbo jets – to link just about any two cities on the globe. Dubai’s airline and airport facilities are a central part of a policy
The combination of Emirates, one of the world’s fastest-growing document called the Dubai Strategic Plan 2015, which seeks to grow
international carriers, and Dubai Airports, the company running the emirate’s GDP by 11% a year in real terms over the next eight years.
Dubai International – the fastest-growing airport in the world – is The plan, guided by the vision of His Highness Sheikh Mohammed
driving Dubai’s aviation sector into global record books. bin Rashid Al Maktoum, Vice President and Prime Minister of the
This is just what Dubai intends, according to His Highness Sheikh UAE and Ruler of Dubai, also aims to increase worker productivity
Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation and the share of highly skilled labor in the workforce.
Authority and Chairman of Dubai Airports. “Our plans for the Travel, tourism, trade and hospitality are some of the sectors identified
aviation sector in Dubai are as ambitious as they are realistic,” he says. as key drivers of this growth. “Sustaining current growth levels in these
“We are building the future of world aviation in Dubai today, and we sectors is directly linked to the aviation sector and infrastructure,”
will continue to rewrite the history of aviation chapter and verse.” says Sheikh Ahmed. “Growth in those sectors has to be matched by
Steps taken in this direction over the past 12 months have included a corresponding expansion in the aviation infrastructure capacity, and
successfully overseeing the restructuring of the former Dubai Department that is precisely why we have been expanding our aviation facilities
of Civil Aviation into the corporate entity Dubai Airports, the large over the past few years.”
increase in passenger and cargo traffic, and construction completed on From this perspective, “Dubai International and Emirates represent
the new $4.5 billion Terminal 3 at Dubai International, the first runway the backbone of Dubai’s new economy and will play a vital role in
and first of the cargo and passenger terminals at Dubai World Central achieving the objectives as outlined in the Dubai Strategic Plan 2015,”
– Al Maktoum International. “Both Emirates and Dubai Airports had a concludes Sheikh Ahmed.
His Highness Sheikh Ahmed bin Saeed Al Maktoum is President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman
and Chief Executive Officer of Emirates Airline and Group, Deputy Chairman of the Dubai Executive Council, Chairman of DNATA, Chairman of
the Dubai Airport Free Zone Authority and Chairman of Dubai Aerospace Enterprise.
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6 Dubai Special Advertising Section 2008
Dubai Airports: Redefining Passenger
Comfort and Convenience
The new Terminal 3 and its airside facility, major parts of Dubai International’s $4.5
billion expansion, are set to open in the last quarter of 2008.
D
ubai Airports Chief Executive Officer Paul region’s first dedicated low-cost-carrier terminal.
Griffiths walks into his office, still holding The Dubai government has announced plans to
a briefcase and jacket, and invites a reporter launch a low-cost carrier by next year, while low-
to begin an interview. He has no need to gather his cost carrier Jazeera Airways of Kuwait already
thoughts, take a drink of water, or even sit down – operates a hub at Dubai International.
he’s ready to answer questions. Dubai World Central – Al Maktoum
It’s no wonder: Based on Griffiths’ resume and International will form the nucleus of a US$30
current responsibilities, he clearly knows how billion massive new aviation, logistics, residential,
to multitask. He also has experience taking on commercial and leisure development, 25 miles
assignments in midstream, having come aboard from the city center. Although it is owned by
as Dubai Airports’ CEO just as a major part of the Dubai Government, by April 2009 Dubai
the $4.5 billion Dubai International expansion Airports will have completed its transition
project was nearing completion and construction to being a separate, self-financed corporate
was beginning on what ultimately will be the entity like its sister company, Emirates. “It’s
largest airport in the world. Dubai World Central good discipline,” Griffiths says, noting that this
– Al Maktoum International, situated at the edge restructuring also will enable Dubai Airports to
of the city and near its major container port, will access regional and global debt capital markets.
dwarf the city center-located Dubai International There are no plans, however, to sell an equity
in both passenger throughput and cargo capacity, stake in the company, he says.
even after Dubai International’s expansion is His Highness Sheikh Ahmed bin Saeed Al
Paul Griffiths
complete. Chief Executive Officer Maktoum will remain Chairman of Dubai
According to Griffiths, Dubai Airports is Dubai Airports Airports as a sign of the airports’ significance to
looking to remake the airport experience for the government’s greater development goals. He
travelers. “We’ve thrown away the book on traditional airport design is also the Chairman and CEO of Emirates Airline and Group and
and started again, designing from the customer on up,” he says. “We President of the Dubai Civil Aviation Authority.
want to increase passenger convenience. Dubai World Central – Al In fact, the airports will contribute significantly to the success of
Maktoum International will be the largest in the world, but it will feel the strategy document called the Dubai Strategic Plan 2015, which
comfortable and small.” sets ambitious economic targets, including 11% annual growth in real
While details are not yet worked out, the idea is that passengers will GDP. It seeks to do this in part by focusing on a handful of strategic
no longer be funneled into massive terminals, with all the parking, sectors, including travel and tourism.
security, check-in, passport control and other bottlenecks that this Growth in other cities and countries has often been hampered by
generates. Instead, there will be multiple entry and exit points for airports that are too small to handle growing passenger and cargo
concourses and gates. traffic, Griffiths notes. The expansion of Dubai International and the
Dubai Airports is working with the emirate’s Roads and Transport development of Dubai World Central – Al Maktoum International
Authority to develop road and rail networks that will be integrated should ensure that this never happens in Dubai.
into this design mandate. For example, there are plans for off-site And Dubai has good reason to worry about capacity. In 2007,
luggage check-in at certain light-rail stations. the airport was the world’s fastest growing in terms of international
The new Terminal 3 and its airside facility, major parts of Dubai passenger throughput, which was up nearly 20% from a year earlier to
International’s 4.5 billion expansion, are set to open in the last quarter more than 34 million passengers. It has maintained an average annual
of 2008. Combined with the under construction A380-dedicated growth rate of more than 15% over the past six years.
facility – designed primarily to handle Emirates Airline’s large planned Moreover, Dubai is looking to double the number of people visiting
fleet of Airbus A380 superjumbo jets – the expansion will more than the emirate to 15 million by 2015 and expects its open-skies policy,
double the airport’s capacity to over 60 million passengers annually. popular duty-free shopping and excellent transit experience to continue
Meanwhile, the $10 billion Dubai World Central – Al Maktoum to attract new carriers and routes. In fact, at current growth rates, Dubai
International will begin operations next year with general aviation and International will exceed its capacity before 2015. Luckily, Dubai World
cargo, followed by the opening of a 7 million terminal, set to be the Central – Al Maktoum International will be just down the road.
Paul Griffiths is Chief Executive Officer of Dubai Airports. He is responsible for the operation and development of Dubai International and the
upcoming Dubai World Central – Al Maktoum International. Before his current assignment, Griffiths was Managing Director of London’s Gatwick
Airport, the sixth-largest airport in the world. Prior to joining airport operator BAA in 2004, he spent 14 years with the Virgin Group, working
closely with Sir Richard Branson as a board director of the Virgin Travel Group. In the 1980s, Griffiths spent four years in Hong Kong developing
the marketing, commercial planning and technology functions of the then-start-up airline Dragonair.
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Special Advertising Section 2008 Dubai 7
DTCM: Promoting Dubai to Businesses
and Tourists Across the World
As part of the Strategic Plan, Dubai will double its number of visitors from just over 7
million in 2007 to 15 million in 2015. As a tourism destination and business hub, Dubai
has proven itself to be an unqualified success. The city is well known across the globe: It
has the highest hotel occupancy rates in the world, more than 200 nationalities work in
the city, and international companies are flocking to Dubai to set up shop.
T
his kind of achievement usually Millions of dollars have also been put
would be explained through a com- into expanding the bus fleet and introduc-
plex matrix of factors. But for Khalid ing air-conditioned bus stops. In addition,
A. Bin Sulayem, Director General of the further developments in the city’s road net-
Department of Tourism and Commerce work are expected to ease traffic flow.
Marketing (DTCM), Dubai’s success boils All of this focus on improving the
down to three simple factors. infrastructure reflects Bin Sulayem’s
The first is the continuous enhance- assertion that Dubai is constantly looking
ment of the Dubai business and tourism to improve all aspects of its “product.”
product; second is the effective marketing Bin Sulayem says this as he reiterates
of the emirate; and third is the decision to one of his main points: Dubai is different
ease procedures for getting a visa to come because it offers a high level of service
to Dubai. across all elements of the living, working,
As the government organization respon- playing or vacationing experience.
sible for promoting the city to the world, That’s the reason for the multibillion-dollar
the DTCM is at the nexus between what investment in transportation infrastructure
Dubai promises and what it delivers. From and coordination with the private sector
Bin Sulayem’s perspective, Dubai has to ensure the city has the office, retail and
kept its promise, as seen by the 86% hotel residential stock it needs to grow.
occupancy rate in 2007 – the highest in In fact, through the policy document
the world, despite the steadily rising cost of called the Dubai Strategic Plan 2015, the
hotel rooms. “Business is booming for us,” government has set an ambitious goal of
Khalid A. Bin Sulayem
Bin Sulayem says. Director General 11% annual real GDP growth over the
Not only are hotels full, but both resi- Department of Tourism and Commerce Marketing next seven years.
dential and commercial real estate prices As outlined by the Dubai Strategic Plan,
are also rising sharply, largely because so many people and businesses tourism is one of the key drivers of this growth since, as Bin Sulayem
are moving to the city. The current transportation network is not notes, tourism’s direct contribution to the Dubai economy is about
big enough to cater to a city experiencing double-digit population 20% and its indirect contribution is 30%.
growth year after year. As part of the Strategic Plan, Dubai will double its number of visi-
All of this is being addressed, says Bin Sulayem, who has headed the tors from just over 7 million in 2007 to 15 million in 2015.
DTCM for nearly two decades. “There are big plans to enhance the The DTCM will use all its marketing tools, including exhibitions,
product and the infrastructure. We are working with other entities in road shows, media relations, advertising, workshops and its growing
Dubai to coordinate this.” list of overseas promotion offices. The organization is about to open
For example, total hotel rooms are set to triple to 141,000 by 2015. an office in Brazil, its first in Latin America and its 16th globally. Soon
By the end of 2008, Bin Sulayem says, the city will add about 4,000 to to follow are three more offices in Mainland China.
the current stock of 47,000 hotel rooms. So, as DTCM goes around the world selling Dubai, what is its
As many of the largest commercial and residential developments core message?
come on to the market over the next five to ten years, these existing “We are proud of how safe a city and how accepting of others
bottlenecks should ease, while the city’s transport network will get a Dubai is,” Bin Sulayem says. “People are friendly, the crime rate is low.
big boost from an ambitious automated metro system that will begin That’s one selling point. Another is the level of service we have here,
linking all parts of the city starting in 2009. and also the value Dubai offers.”
Khalid A. Bin Sulayem, Director General of the Department of Tourism and Commerce Marketing in Dubai, oversees 15 representative offices
worldwide. Bin Sulayem joined the Dubai Commerce and Tourism Promotion Board upon its establishment in 1989 and was the Director of the
Board before becoming its CEO in 1993. In 1997, Bin Sulayem was appointed Director General. Bin Sulayem is a member of the following
Dubai organizations and institutions: Quality Award, Executive Council, Dubai Council for Economic Affairs, DSF/DSS, Economy and Trade
Committee, Skal, Rashid Paediatric Center, SITE, Total Quality Management College and GCC Tourism Committee/Ministry of Culture, UAE.
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8 Dubai Special Advertising Section 2008
Dubai Chamber: Building Businesses
in the Region’s Can-Do Capital
The Dubai Chamber rebranding was designed not only to address the changing
nature of business in Dubai, but also to support the Strategic Plan.
N
o institution in Dubai so perfectly raising the share of highly skilled jobs in the
encompasses the ongoing evolution economy from 20% to 25% – all between
of this regional business, tourism and now and 2015.
financial services hub as the Dubai Chamber. The sectors of travel and tourism,
Established in 1965, the Dubai Chamber has financial services, professional services,
traditionally served the interests of the city’s transport and logistics services, trade and
legendary trading community. And while storage, and construction and real estate
it’s true that even today two-thirds of its are identified as key building blocks for
members are traders, like the rest of Dubai, achieving these goals.
the Dubai Chamber is changing. These sectors represent both the
The organization’s new corporate traditional sector powerhouses of Dubai,
identity, launched late last year, reflects a such as trade and transport, and the new
deeper strategic shift that seeks to address ones, such as financial and professional
the changing makeup of the Dubai business services.
community. The Dubai Chamber rebranding was
“The Dubai Chamber used to focus designed not only to address the changing
mainly on the traditional economy, but nature of business in Dubai, but also to
with the new brand, we are looking at support the Strategic Plan. Under its new
new economy [sectors] as well,” says His identity, the Dubai Chamber has a mission
Excellency Hamad Mubarak Buamim, the to “represent, support and protect the
Dubai Chamber’s Director General. H. E. Hamad Mubarak Buamim interests of the business community in
Dubai began as a trading port along the Director General Dubai,” Buamim says.
Dubai Creek, a dredged inlet and remnant Dubai Chamber More specifically, he continues, the
of an ancient river that once flowed into Dubai Chamber seeks to “create a favorable
the Gulf. For centuries, traditional wooden boats called dhows have business environment, support the development of Dubai businesses
plied the waters of the Gulf, Arabian Sea and Indian Ocean to East and promote Dubai as an international business hub.”
Africa and the Indian Subcontinent. Hundreds of these dhows still line In order to achieve these goals, the Dubai Chamber conducted a
the wharfs along the creek and continue this commerce today. study of chambers across the globe and identified best practices across
In fact, trade remains a cornerstone of the Dubai economy, though a range of chamber activities. It then benchmarked each one of its
now it’s through the container ships docking at the massive Jebel Ali and activities against the best services offered by chambers from Paris to
smaller Sheikh Rashid ports, as well as cargo planes landing at the Hong Kong and beyond.
Dubai International Airport. In addition to familiar chamber activities, such as issuing certificates
As Dubai has diversified its economy and lessened its reliance on its of origin and attestation, the Dubai Chamber has initiated a range
dwindling reserves of oil, new sectors have sprung up, helping to grow of what Buamim calls “value-added” services, which contribute to
the emirate’s economy. These include real estate,construction, tourism, the competitiveness of Dubai businesses and improve the emirate’s
finance, banking, media, sales and marketing, IT and health care. business environment. The Dubai Chamber has also established 20
The rebranding is part of how the Dubai Chamber is managing business groups representing the full range of sectors in the emirate
the difficult balance of serving its existing members (the majority of and 31 country-specific business councils representing Dubai-based
whom are small- and medium-sized businesses) and their traditional foreign companies.
sectors, while also reaching out to and meeting the needs of the many
new and expanding sectors in Dubai. Creating a Favorable Business
“We are looking at new types of services for new-economy sectors,”
Buamim says.“We are putting in place a lot of value-added services to cater
Environment
to these new sectors, especially information provision and research.” As part of its goal to create a favorable business environment, the Dubai
To reach this audience, the Dubai Chamber has opened a state-of- Chamber operates a number of initiatives,including the Dubai International
the-art branch at the Jebel Ali Free Zone, which is adjacent to the port Arbitration Center, an autonomous, not-for-profit institution that provides
and not far from Dubai’s media and IT free zones. independent, world-class arbitration as an alternative to courts for local,
Many of these new sectors play a prominent role in the Dubai regional and international businesses with activities in Dubai. Originally
Strategic Plan 2015. This plan sets a number of goals, including launched in 1994, the center was established as an independent entity in
economic growth of 11% a year in real terms, increasing per capita 2003 and now has an international board of trustees from 11 countries.
income to $44,000, increasing worker productivity by 4% a year and Last year, the center handled 77 cases with $2 billion in claims.
Dubai Chamber.indd 8 6/16/08 1:24:58 PM
Special Advertising Section 2008 Dubai 9
the community. So rather than offer theoretical best practices borrowed
from Europe, the Dubai Chamber is able to show its members “the way
best practices [are implemented] in Dubai and the UAE,” he says.
The Dubai Chamber also seeks to be a source of information on
global trends, international standards and competitive practices. It does
this through business improvement services such as executive training
programs, corporate governance programs, and consultancy services
in areas such as business start-up, human resource management, IT
systems and marketing.
By supporting Dubai businesses, the Dubai Chamber also recognizes
the importance of providing a variety of survey research and analysis.
This is a service the chamber is expanding to meet the needs of the
growing presence of knowledge economy service industries in Dubai.
This expansion includes enhancing the Dubai Chamber’s Web site to
provide easy access to the vast research data being developed.
The Dubai Chamber also has partnered with Compagnie Francaise
d’Assurance pour le Commerce Exteriors (COFACE) to provide a
credit rating service that facilitates increased international business and
deal making. It does this by increasing the transparency and credibility
of local firms that can join the COFACE alliance, which provides
access to 85,000 clients in 52 countries.
Promoting Dubai as an International
Business Hub
With the goal of promoting Dubai, the Dubai Chamber travels abroad
and receives visiting trade delegations (it received more than 170 in
2007). Its Department of Trade and Business Development organizes
and participates in major international trade fairs and economic
forums, sometimes in cooperation with other Dubai organizations
such as Dubai Customs and the various free zones.
It also runs the Dubai Trade Point (DTP) Web site, which is designed
to facilitate international trade by helping local companies identify
business and investment opportunities overseas. As a member of the
World Trade Point Federation, DTP links Dubai Chamber members
Another Dubai Chamber organization is its Center for Responsible (particularly its small- and medium-sized companies) with 140 trade
Business. It delivers training and conducts research on best practices points in 92 countries, providing tremendous opportunities that
both internationally and locally. It also offers consultancy on would be almost impossible for these companies to identify in any
corporate social responsibility and conducts seminars on the topic, other way.
including sessions to address specific industry issues. A recent session Like many in Dubai and the Gulf region, he is optimistic about
focusing on real estate and construction looked at the pressing issues prospects for the local and regional economies, despite recent
of labor practices, green buildings and environmentally conscious downturns in the United States and Europe. High oil revenue is still
construction. boosting regional economic activity, while Dubai’s Asian business and
The Dubai Chamber has also shown itself to be a strong and trading partners, including India and China, have been affected only
independent voice supporting its members’ interests and advocating minimally by the U.S. slowdown and the rising cost of oil, and so are
for them in the development of policies, laws and regulations. projected to still record relatively strong GDP growth.
As for Dubai in particular, the target of 11% real GDP growth in
Supporting the Growth of Dubai each of the next eight years provides tremendous encouragement for
businesses operating in the emirate, Buamim says.
Businesses Dubai’s great success can be attributed to its absence of red tape,
The Dubai Chamber has a variety of programs and activities designed liberal investment environment and world-class services and logistics
to support the growth of Dubai businesses, including the Mohammed infrastructure. But more importantly, Buamim says foreign businesses
Bin Rashid Al Maktoum Business Award, a business excellence awards should seek out Dubai for “the visionary leadership and the Dubai
program. What makes it particularly useful, Buamim says, is that brand, and the ‘everything is possible,’ ‘can-do’ attitude and ambition
winning companies agree to share their best practices with the rest of found here.”
His Excellency Hamad Mubarak Buamim became Director General of the Dubai Chamber in 2006, after serving two years as Secretary General
of the Dubai Economic Council. Prior to that he was a Senior Commercial Manager, in Corporate Banking, for HSBC Bank Middle East. Buamim
is on the boards of Emirates NBD and Union Properties, and is a member of the Economy & Trade Committee of the Executive Council for the
Government of Dubai. He earned a B.Sc. in Electrical Engineering (magna cum laude), from the University of Southern California, Los Angeles,
and an M.B.A. (Honors) from the University of Missouri-Kansas City.
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Special Advertising Section 2008 Dubai 11
DWTC: Making Dubai “A Place
Where Business Begins”
In all, DWTC will have 10,000 hotel rooms by 2015, about 10% of the 100,000 total room
capacity projected to be available in Dubai by that time. The city had just over 51,000
hotel rooms in 2007, with occupancy rates averaging 85% year round.
I
n Dubai today, the largest covered exhibi- DEC will also have transportation, logistics
tion space is the 700,000-square-foot Dubai and warehousing infrastructure as well as an array
International Convention and Exhibition of commercial spaces, cost-effective office park
Centre (DICEC). So when Dubai World Trade facilities, retail outlets, hotel accommodations
Centre (DWTC), which owns DICEC, says it’s and residential facilities. It will be located away
building a new exhibition complex with 3.2 from the city center adjacent to the new Al
million square feet of covered space, at first blush Maktoum International Airport in Jebel Ali,
it seems a daunting task. which will be able to accommodate 120 million
But Helal Saeed Almarri, Director General passengers per year at full capacity.
of the DWTC, says his organization’s current The DEC district will cater to the world’s
show bookings will fill the entire 1.3-million- largest and most significant exhibitions. By
square-foot first-phase capacity of the new hall, contrast, the commercial business destination,
which is set to open in September 2010. called Dubai Trade Centre District (DTCD),
When asked whether any Middle East con- will offer a blend of sophisticated business with
vention or exhibition could grow to fill the upscale lifestyle and is designed to host the
venue when it reaches full size, Almarri makes most prestigious global conventions.
clear the full ambitions of the company. Encompassing the current exhibition center and
“Our strategic vision is to make Dubai surrounding areas in the heart of Dubai’s business
the world’s leading destination for all major district, DTCD will feature five-plus-star hotels,
exhibitions, conferences and events,” he says. concierge apartments and towers; a state-of-the-
“We already are benchmarking ourselves art convention center; office and commercial
against the performance of global industry Helal Saeed Almarri towers; and a wide range of boutique retail outlets.
leaders in Europe, Asia and America.” Director General These will all be interspersed with open terraces
In the most recent report by UFI, the global Dubai World Trade Centre and promenades to create “a vibrant international
association of the exhibition industry, there are business district like those found in cities such as
only three exhibition spaces in the world – all in Europe – that are larger London, Tokyo and New York,” Almarri explains. Luxury hotel operators
than the planned DWTC venue. Striving for superlatives in size – and in Amanresorts and GHM, and top-notch business tourism operators including
customer service – is nothing new for Almarri. From the day it opened its Accor, have been appointed to manage the district’s high-end hotels.
doors in 1979, DWTC has been, and remains, the largest, best equipped and In all, DWTC will have 10,000 hotel rooms by 2015, about 10%
best run event space in the entire Middle East and North Africa region. of the 100,000 total room capacity projected to be available in Dubai
In order to become a leading player in the global MICE (meetings, by that time. The city had just over 51,000 hotel rooms in 2007, with
incentives, conferences and exhibitions) industry, DWTC – which occupancy rates averaging 85% year round.
began as a single 37-story office tower with adjacent conference halls Guided by the ambitious Dubai Strategic Plan 2015, as laid out by
– has embarked on a $15 billion development plan that includes two His Highness Sheikh Mohammed bin Rashid Al Maktoum – UAE Vice
unique commercial destinations in the city. One will be located at the President, Prime Minister and Ruler of Dubai – the emirate is looking
edge of the city, adjacent to a massive new international airport that to grow its GDP by 11% a year over the next eight years. Part of that will
is now under construction. The other will be in the heart of Dubai’s be driven by tourism and hospitality, with the convention and exhibi-
financial and business district. tion industry playing a major role in driving business tourism numbers.
The first, with the working title Dubai Exhibition City (DEC), will Under this plan, Dubai seeks to more than double its number of
be a 2.7-square-mile, self-sufficient destination with the 3.2-million- visitors, from 7 million in 2007 to 15 million in 2015. It already has a
square-foot Dubai Exhibition World (DEW) as the centerpiece. The strong track record of double-digit growth, having had just 5.4 million
largest hall in the venue will offer 915,000 square feet of covered visitors as recently as 2004.
exhibition space and, at more than half a mile long, will be the longest Aside from the direct contribution to these goals through
column-free exhibition hall in the world. DEW will be “one of the the development of its two exhibition districts, DWTC is also
top five exhibition centers worldwide in terms of capacity, scale and supporting the strategic plan by helping to grow Dubai as a global
scope of service offerings,” Almarri says. MICE destination and by bringing in new trade shows focused on
However, he doesn’t want to leave the impression that the size of high-priority industries such as travel and tourism, manufacturing,
the exhibition city is all that matters. DEC will be “a one-of-a-kind pharmaceuticals, aerospace and financial services.
destination,” he notes, by delivering a “world-class experience around DWTC is owned by the Investment Corporation of Dubai (the
events to the global business tourist.” investment arm of the government of Dubai) and is using a range of
DWTC.indd 11 6/16/08 1:33:48 PM
12 Dubai Special Advertising Section 2008
financing facilities with a mix of debt and equity to fund its expansion. is unique because it “integrates a modern covered exhibition space with
“We have very solid strategic partnerships with local and international semi-covered and open areas for permanent and temporary exhibits.”
financial institutions like the regional powerhouse Emirates-NBD Concerts, corporate events and shows can be held at DEW, while
Bank and the global investment bank Morgan Stanley,” Almarri says. annual exhibitions will be able to maintain permanent exhibits at the
The vision driving DWTC seems clear enough, but how will it complex. In addition, DEW’s size means that there is enough space to
actually fill all these venues? host “confexes,” an increasingly popular event concept that combines
Almarri answers with a well-recited list that includes continuing large exhibitions with affiliated industry conferences.
to grow its cornerstone events in IT, tourism, construction, health In addition to its exhibition facility and real estate operations,
and finance; attracting the high-value trade events mentioned above; DWTC offers a range of other related services, including conference
and actively pursuing the global association and conference business, organizing; media and advertising; catering; and event, engineering
which he says is “vastly unexploited.” and security services.
“We see important opportunities to attract many more of these [con- Almarri is confident that his organization will succeed in becoming
ferences] to Dubai,” Almarri says.The city’s location at a global crossroads a global leader not only because of DWTC’s focus on customer serv-
near major emerging markets will help in this effort.“Many of the world- ice and the range and diversity of venues it offers, but also because of
renowned associations are looking to increase membership in high-growth the unique added value that Dubai provides all those who participate
markets like the Middle East, Asia and the [Indian] subcontinent, where in the shows, conferences and events held in the city.
we can leverage our already established reputation,” Almarri says. “The DWTC networking platform is distinctive in terms of the
Recent examples of global conferences held in Dubai include the range of sectors, breadth of geographies and scale of opportunities that
2007 Annual World Dental Congresses and the 2007 International it gives exposure to,” Almarri says. “Our trade shows attract a wider
Petroleum Technology Conference.The 21st World Diabetes Congress mix of international exhibitors and visitors relative to their global
will be held in the city at DICEC in 2011. counterparts. DWTC makes offers ‘beyond exhibitions:’ We are truly
Dubai Exhibition World (DEW), the massive exhibition center, will also an international destination that serves as the gateway to the wider
enable new types of events, Almarri says. He emphasizes that the venue region, a place where business begins and evolves.”
Helal Saeed Almarri is the Director General of the Middle East region’s leading exhibitions and conference group, the Dubai World Trade Centre
(DWTC). He is also on the board of the Dubai Chamber of Commerce, ARAMEX and Depa United Group and serves as the Chairman of Emirates
Investment Services. He holds an M.B.A. from the London Business School and is a qualified Chartered Accountant from the Institute of
Chartered Accountants in England and Wales.
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DWTC.indd 12 6/16/08 1:34:01 PM
14 Dubai Special Advertising Section 2008
Dubai Properties Group: Building
Communities With Vision
Some of the group’s most high-profile projects include the completed Jumeirah Beach
Residence, a sprawling one-mile-long development with dozens of high-rise residential
and hotel towers on the Gulf, and Business Bay, an integrated business and residential
district covering an area of 64 million square feet along an extension of the Dubai Creek.
W
hen walking into the offices of Dubai was the very first fully integrated community
Properties Group (DPG), visitors concept” that brought together residential, retail
notice two things immediately. First, and leisure components “to meet [residents’] day-
the interior makes extensive use of natural to-day requirements.” Because it was built in a
textures and materials, including hewn stone, single phase, the development reinforced a sense
marble, wood, sand and seashells. Second, of community. All components of a community
there is no lobby. Instead, the reception desk – housing, public spaces, shops, service and leisure
is located at one end of an enormous open- facilities – were present from the moment the
plan area with glass-walled offices and large buildings were occupied, he says.
common spaces that accommodate seating and Jumeirah Beach Residence was also unique
scale models of some of the group’s projects. because it was the first freehold development
Together, these two elements create a not designed for the luxury end of the market.
community feel that’s both comfortable and “We came in with a proposition to expand
aesthetically pleasing to staff and visitors. The the base [of freehold property ownership in
interior design captures the essence of the Dubai], enabling the average white-collar
group, whose focus is people and communities. person to enter the real estate business… we
DPG’s advertising line is “built around you.” actually broke the mold,” Binbrek says. “It was
“[The company’s] inspiration comes from the first time there was a development in the
knowing that we are working to improve the market that the average person could aspire to
lives of people living in our communities and as an investor or property owner.”
enriching the local economy,” says Executive Since then, Dubai Properties has grown
Chairman Hashim Al Dabal. Hashim Al Dabal its portfolio of properties – including those
This focus is not only on those living and Executive Chairman that have been completed, are still under
working in the group’s developments, but also Dubai Properties Group construction or have been announced – to
on its employees. “People working at DPG are more than $136 billion. Its stated goal is to
very passionate about their work,” Al Dabal says. “We are determined increase the value of this portfolio to $191 billion in three years’ time.
to work as a team to bring more visionary projects to life.” So far, all its activity has been in the emirate of Dubai.
The company’s Group Chief Executive Officer, Mohamed Binbrek, Some of the group’s highest-profile projects include the completed
puts it this way: “Our driving ethos has been about what we are doing Jumeirah Beach Residence, a sprawling one-mile-long development
to enhance the urban landscape of Dubai, what we are doing to make with dozens of high-rise residential and hotel towers on the Gulf, and
life nicer and better for people in Dubai.” Business Bay, an integrated business and residential district covering an
Launched in 2004, Dubai Properties is the third of three government- area of 64 million square feet along an extension of the Dubai Creek.
or quasi-government-owned master real estate developers operating The latest project to be announced is the Mohammed Bin Rashid
in the emirate. Emaar – a publicly traded but government-controlled Gardens, a 32-square-mile, low-density, mixed-use development that
company – is known for building Burj Dubai, the world’s tallest tower, is unique because more than 83% of its total land area will be used
while Nakheel – a part of the government-owned Dubai World – for gardens, public parks and waterways, leaving just 17% for built-up
catches headlines for its three artificial palm-shaped islands built in the areas. Because it is designed to be a sustainable community in line
shallow waters of the Gulf. with the vision of His Highness Sheikh Mohammed bin Rashid Al
“Size has never been a dimension we’ve looked to,” Binbrek says. Maktoum, Vice President and Prime Minister of the UAE and Ruler
Instead, he says the developer has focused on the “people” dimension. By of Dubai, the trees, plants and other foliage will either be native to
way of example, Binbrek points out that Dubai Properties was the first desert climates or low-water-consuming. In addition, the community
master developer in Dubai to focus on community. Speaking of Jumeirah will use recycled “gray” water and all buildings will adhere to the
Beach Residence, Dubai Properties’ inaugural development, he says, “It highest standards of energy efficiency and conservation.
Hashim Al Dabal is the Executive Chairman of Dubai Properties Group, a member of Dubai Holding. He is responsible for guiding the group on long-term stra-
tegic opportunities, representing the company with key industry, civic and philanthropic constituents, and providing leadership to the Executive Board of Direc-
tors. Prior to joining Dubai Properties Group, Al Dabal served as the Executive Director of Dubai Islamic Bank and was Resident Vice President of Citibank. Al
Dabal graduated in 1987 from Eastern Michigan University in the United States with a bachelor’s degree in Business Administration, majoring in Management.
Dubai Properties.indd 14 6/16/08 1:27:10 PMSpecial Advertising Section 2008 Dubai 15
“The Gardens” will be divided into four districts with nature, culture, management systems, strategic planning and business results in a system
commerce and education themes. It will be home to schools, residences, that will increase efficiency, control costs and lead to the development
offices, a museum, a festival hall and the Mohammed Bin Rashid Al of value-added services.
Maktoum Foundation, a non-profit organization funded by Sheikh As a result of the restructuring, Binbrek says, each unit will have to
Mohammed’s personal endowment of $10 billion, which is dedicated to bid for jobs against outside suppliers and, when appropriate, provide
the development of a knowledge-based society in the region. services to the other business units within the group. “The creation of
“The Gardens is going to elevate Dubai as one of the new leading an open market is the ideal scenario for companies to come up the
cities of the world, competing with, if not surpassing, some of the leading curve,” he says.
big cities globally in terms of urban development,” Binbrek says. In addition, DPG’s companies have “gained enough experience and
know-how” to sell their services to outside clients, he adds.
Dubai Strategic Plan 2015 From a human resource management point of view, the restructuring
The newly formed Dubai Properties Group increases opportunities for professional
operates in line with the Dubai Strategic Plan advancement within the group, which will
2015 and Sheikh Mohammed’s vision for the help retain staff in the very competitive Dubai
city’s development as a global business, trade real estate market. It will also allow the holding
and tourism center. The strategic plan sets a company to focus on strategic development
goal of increasing real GDP in the emirate by and new business opportunities. “Now it will
11% a year for the next eight years to reach be free to think out of the box, to come up
an annual GDP of $108 billion by 2015. Six with new creative ideas,” Binbrek says.
sectors have been identified as key drivers of DPG is owned by Dubai Holding, a massive
this growth, including construction. business conglomerate owned by Sheikh
“In accordance with the vision of His Highness Mohammed. Since its founding in 2004, Dubai
Sheikh Mohammed, Dubai Properties Group Properties has been entirely self financed, Binbrek
is determined to develop Dubai and the UAE says. Despite its goal of growing its total projects’
as a global commercial and business center,” Al value to $191 billion, it doesn’t anticipate the
Dabal says.The group pursues projects “that add need for outside equity or debt financing through
value to customers and contribute to the growth IPOs, joint ventures, bank loans or bond issues.
of Dubai,” he adds.
Given the massive size of its portfolio, the Major Projects
company will certainly be supporting the The freehold Business Bay project covers an area
construction industry. of 64 million square feet and will feature office
In addition,its massive residential developments, and residential towers set along an artificial
including Jumeirah Beach Residence and extension of the Dubai Creek with networks
the Business Bay project, are contributing Mohamed Binbrek of roads, pathways and canals. It will be home
substantially to easing the current housing and Group Chief Executive Officer to the emirate’s stock exchange and the Dubai
office supply shortage that must be addressed in Dubai Properties Group Financial Market and will combine office, retail,
order to achieve the emirate’s ambitious growth dining and residential components in order to
targets. DPG describes Business Bay as “the region’s new business capital” match the 24-hour liveliness of Manhattan or Tokyo’s Ginza district.
and part of the emirate’s push to extend the international role of the Within Business Bay, DPG is developing the 11-building, 8.7-million-
UAE, thereby contributing to the strategic plan. square-foot Executive Towers complex. Comprised of nine residential
towers, an office tower, the five-star Business Bay Hotel and an outdoor
Restructuring retail space called Bay Avenue, the project is the first to be handed over
Dubai Properties Group only came into existence in March 2008, in Business Bay. Its residences include lofts, penthouses, and studio, one-,
when the various divisions of Dubai Properties were reorganized as six two-, three- and four-bedroom apartments, and the whole development
distinct business units and DPG was created as the holding company. is set for completion in the last quarter of this year.
The six subsidiaries are: Dubai Properties, the master real estate developer The 51-story Vision Tower, at the entrance to Business Bay, is
for customer service, sales and marketing interface; Salwan for property DPG’s sole stand-alone commercial tower.The freehold tower provides
management services; Injaz for the development of fully sustainable 5.4 million square feet of office space.
communities; Dubai Retail as the retail services company; Dubai Asset The Villa at Dubailand (a 3-billion-square-foot family leisure and
Management as the facilities management provider and community entertainment destination) is a residential development featuring cool and
security services; and Dubai Hospitality, as the hospitality field company. tranquil Spanish-style courtyard housing, water fountains and waterfalls.
Al Dabal says the restructuring will open “a new chapter to capitalize It offers winding walkways and horse trails incorporated into an attractive
on the group’s phenomenal three-year success and to continue its desert landscape, as well as restaurants, shops and pools within walking
growth regionally and internationally.” distance of the four-, five- and six-bedroom villas. Villa handover has
Binbrek adds that each business unit is now responsible for its own already begun, with completion of the final phase slated for 2010.
Mohamed Binbrek is Group Chief Executive Officer of Dubai Properties Group. He has more than 22 years of experience in retail and
investment banking, commercial banking and property development. He joined Dubai Properties as Chief Officer of Administration and Portfolio
Management and soon became its Chief Operating Officer. Previously he worked as Vice President of Citibank in the UAE and early in his career
was an Operations Manager with ABN-Amro Bank.
Dubai Properties.indd 15 6/16/08 1:27:15 PM16 Dubai Special Advertising Section 2008
Culture Village is a 40-million-square-foot, mixed-use master During 2008, DPG anticipates the launch and handover of
development with open spaces, traditional wind towers, cobblestone approximately 5,000 commercial, residential and retail units from
walkways, unique sculptures and waterways. Its location on Dubai across its portfolio. In addition to these projects, DPG still has an
Creek provides for creek-side restaurants and cafés, art galleries, craft available land bank of 26 distinct parcels of land across the emirate that
studios, a maritime museum and a dockyard where building of the it is in the early concept stage of developing, Binbrek says.
dhow (traditional Arab sailing vessels) can be observed. Apartments
ranging in size from studios to four-bedrooms will be available. The Subsidiaries
first phase of the project is expected to be complete in 2012. As mentioned above, DPG has six wholly owned subsidiaries. These
Mudon, which incorporates five individual districts themed after include Dubai Properties, the master real estate developer, and Salwan,
the cities of Baghdad, Beirut, Damascus, Cairo and Marrakech, covers which provides property management services, including strata, sales,
an area of 73 million square feet in Dubailand. Each district will have leasing and property advisory services. INJAZ, another subsidiary,
its own golf course and office buildings, as well as villas, townhouses provides expertise in sustainable communities and best practices
and apartments.The project is being developed in phases over a period regarding green building.
of five years, with the first phase due for completion in 2009. The Dubai Asset Management Company (DAMC) has three
The 5-million-square-foot Bay Square is a trendy, mixed-use subsidiaries: Dubai Security Group, the first company of its kind in Dubai
community within Business Bay. The entire development will be a to provide security services in cooperation with Dubai Police; IDAMA
pedestrian-only zone and will include walkways over canals, a central Facility Management; and Dubai Community Ventures, which provides
plaza, a boutique hotel, apartments, lofts and offices in mixed-use expertise in the development of neighborhood amenities, such as schools
buildings. There will be open-air cafés, restaurants and shops that will and sports clubs, within DPG’s master-planned communities.
create a lively atmosphere during both day and night. It is expected to Dubai Retail is responsible for developing the retail component
be finished in 2009. of DPG’s developments, including shopping malls and retail markets.
Waha Villas is a gated residential community in Dubailand with 260 Dubai Hospitality, which is now being formed, will provide in-house
Mediterranean-styled villas set amidst palm trees and manicured gardens. expertise on the hotel industry to ensure that DPG’s hotel properties
Scheduled for completion later this year, the two-, three- and four- choose ideal partners and operators.
bedroom villas will feature terra-cotta roofs and cobbled driveways. Despite the extensive scale of its current and future projects and
Also located in Dubailand, the 20-million-square-foot Tijara Town operations in Dubai, DPG is beginning to explore overseas expansion.
is the first freehold master development in Dubai to offer integrated Al Dabal identifies Asia and India in particular as likely areas of interest,
offices, showrooms, warehouses and apartments in single units. This while Binbrek elaborates on some of the rationale behind the expansion.
design is intended to help small- and medium-sized businesses reduce “You need to start getting out of your comfort zone [and] explore
operating costs. The first phase will be completed later this year. The what the good things learned in Dubai are that can successfully be
development also will have a business tower offering an auditorium, transferred elsewhere, and what are the learnings obtained overseas
serviced executive office suites and meeting rooms, restaurants and that you can bring back to Dubai,” he says. “That’s what’s going to
cafés, and two four-star hotels. challenge us as a company going into the future.”
Dubai Properties Group tXXXEVCBJQSPQFSUJFTBF
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