Dubai Real Estate Industry /Dubai Strategic Plan (DSP) – 2015
 
Dubai Strategic Plan (DSP) – 2015:

The DSP is developed along 5 major sectors:
 

1. Economic Development.
2. Social Development.
3. Infrastructure, Land & Environment.
4. Security, Justice and Safety.
5. Government Excellence.

 
The Economic Development has the following guidelines:
 

1. Adoption of Free Market Economy Principals.
2. Innovation in Launching Initiatives.
3. Speed and Accuracy in Project Execution.
4. Unique Relationship and Partnership with the Private Sector.

 
Economic Development:
 
  • Dubai economic growth from 2000-2005 has been remarkable, with double-digit real GDP growth and a relatively high per capita income despite negligible dependence on oil.
  • Dubai’s historical economic growth has been truly impressive. In particular, since the year 2000, real GDP has been growing at a compounded annual growth rate of 13%, by far exceeding that of its GCC countries.
  • The Dubai economy has also been growing faster than the emerging economies of China and India, and the developed economies of Ireland, Singapore, and the US.
  • Dubai’s initiatives to establish specialized zones & mega projects (e.g., Internet & Media City, The Palm, Dubai Land, etc.) ensured a leading role for the Emirate, and helped attract excess regional liquidity in the form of Foreign Direct Investment (FDI).
  • Economic growth has also been fueled by Private Sector participation in developing sectors for which the Government has set the stage by establishing a conducive business environment, coupled in many instances with heavy initial investments to boost private sector confidence.
  • Dubai’s per capita income today compares very favorably with that of many developed countries such as Singapore (US$ 26,836) and Hong Kong (US$ 25,493), countries which required a much longer period of time to reach their current levels.
  • Economic performance at the sectoral level has also been impressive. The non-oil sector played a more prominent role in 2005 with a 95% contribution to GDP, as compared to 90% in 2000 (and as much as 46% in 1975). This was mainly the result of the reduced dependence on oil as well as a deliberate policy of diversifying the economy in favor of the non-oil sectors in which both the overall business environment and sector-specific programmes have played a vital role.
  • Dubai’s current GDP mix is very favorable, as its strongest sectors by international standards happen to be highly conducive to future global growth. These sectors are:
  • Tourism.
  • Trade.
  • Transportation.
  • Financial Services.
  • Construction.
  • Dubai’s economic aims for 2015 have been set and classified into the following categories:
    • Sustain a real GDP growth rate of 11% per annum for the next 10 years.
    • Increase real GDP per capita to US$ 44,000 in 2015.
 
  • The following critical elements are addressed concurrently and in parallel, to insure a rapid and sustainable economic growth:
    • Human Capital.
    • Productivity.
    • Innovation.
    • Cost of Living and Doing Business.
    • Quality of Life.
    • Economic Policy and Institutional Framework.
    • Laws and Regulations.
 
  • The pursuit of the proposed strategic growth path, will promote GDP growth to US$ 108 billion by 2015.
  • To achieve target economic growth, it is estimated that 882,000 additional workers are required to join the workforce by 2015, bringing total employment to 1.73 million with significant move towards higher skilled employment.
  • Dubai is considered one of the world’s fastest growing cities and is a top performer as measured in terms of economic growth and level of GDP per capita.
  • International comparisons of the drivers that sustain economic growth show that only those countries with an infrastructure supporting effective social development are able to sustain higher levels of continuous economic growth.
  • The growing population and the presence of a large number of different nationalities have resulted from the significant influx of foreign workforce that has been attracted to participate and benefit from the unprecedented rapid economic growth. This has created a unique multicultural environment with rich opportunities for cultural interaction and cooperation.
  • For economic success to be sustained, it is absolutely crucial that the social developer sector infrastructure be developed. Only by improving performance in key areas such as Education, Health, Social Assistance and Working Environment can economic prosperity be sustained and enhanced.
  • Over the past 10 years, Dubai has positioned itself as regional business hub, an attractive tourism destination and a safe and great place to live.
  • The development of a state of the art infrastructure was one of the main reasons behind this success.
  • Major investments are also being committed to support the development of the roads and transportation networks. The investment allocated to the Dubai Metro project and the current Roads Network is estimated at US$ 5.9 billion.
  • To insure proper focus on sustainable development with the context of Dubai’s considerable economic growth, the Infrastructure, Land and Environment (ILE) sector plan aims along the following 4 core areas:
    • Urban Planning.
    • Energy, Electricity and Water.
    • Roads & Transportation.
    • Environment.
  • The Government aims to provide a sustainable, effective and balanced infrastructure including all elements such as Energy, Electricity, Water, Roads, Transportation and Waste Management, while protecting the Environment.
 
 
 Top   Back
 
.
 
 


Copyright © All rights reserved. Unauthorized copying of this website prohibited. SABA Properties JLT 2007