Dubai Business

cutxpaste
Mon, 31 Oct 2005 05:53:59 +0000

I did an internship with a local corporate law firm some time ago,one of the things I did was a report on the growth of freezones. I tihnk the count was 37 designated freezones in dubai alone, probably even more now.

Dubai’s growing at anamzing rate, sure, but maybe it’s even too fast I think. take inflation,the officialrate is something like 7%, but its estimated to be well around 15, 16%. Same with the property and stock markset, its superprofitable - you could easily make returns of 3/400% pretty quickly (huge case of excess demand), but it’s hella unstable/risky too.
Utmost respect to the sheikhs here, though,its incredible what they’veachieved in just 30 years (before shiech it literally was sitll the bedouin tribesliving in the desert).