How will Dubai’s 2040 Plan Affect the Economy and Real Estate Sector

How will Dubai’s 2040 plan a ect the economy and real estate sector?The 2040 Master Plan is a modern and forward-thinking plan that will reinforceDubai’s position as a major hub of the region, both in terms of quality of living and interms of economic leadership. The focus on development of nature reserves, parks,and public transportation systems will help the city reinforce its place as one of thepreferred cities for expats globally, ensuring indirect economic bene ts and anincrease in population.Nick Maclean, MD CBRE MENAT commented, “The key take-aways from the 2040Urban Master Plan are: the objective to grow the resident population; the integrationand complementarity use of land and the built environment; the recognition of theimportance of future investment; and the acknowledgement that to remain theregional business hub the Emirate has to appeal to employers & employees as aplace that they want to spend their lives. Similar considerations are critical to allnational and city urban plans. Historically Dubai has created an extraordinarycommercial and tourism hub and that achievement has been because of theGovernment’s willingness to be reactive to change and proactive in its support ofinnovation.”We asked our CBRE advisors in our Dubai team, their thoughts are on this initiative.What will this mean for Dubai?How will Dubai’s 2040 plan a ect the economy and real estate sector?Page 1

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How will Dubai’s 2040 plan a ect the economy and real estate sector?The 2040 Master Plan is expected to create a range of economic opportunitieswithin Dubai moving forward and as the plan is implemented. Further enhancingand developing the city’s transport and social infrastructure, such as schools andhealthcare facilities, is a central focus of the plan. Companies which can assist indelivering these requirements will be well-placed to bene t. As these projects aredelivered, naturally there will also be opportunities for both local and internationaloperators of these new facilities.Will more companies relocate to Dubai?The 2040 Master Plan highlights the forward-thinking nature of the DubaiGovernment and is further backed by the success the Emirate has witnessed ineconomic development since the rst master plan in the 1960’s. This forwardthinkingnature and successful track record are expected to further supportbusiness con dence in the Emirate moving forward.What will be critical in attracting companies and foreign investment will be theintegration and implementation of the Master Plan in conjunction with the range ofeconomic initiatives and reforms which have been announced over recent years,such as the retirement visa, 100% foreign ownership and others. These initiatives,coupled with continued focus on residents’ quality of life, will play a pivotal role insupporting economic growth.How will Dubai’s 2040 plan a ect the economy and real estate sector?Page 2

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