The United Arab Emirates is a high-income developing market economy. The UAE's economy is the 2nd largest in the Middle East, with a gross domestic product (GDP) of US$415 billion in 2021-2023.
The United Arab Emirates, or simply the Emirates, is a country in West Asia, in the Middle East. It is located at the eastern end of the Arabian Peninsula and shares borders with Oman and Saudi Arabia, while also having maritime borders in the Persian Gulf with Qatar and Iran. Abu Dhabi is the country's capital, while Dubai, the most populous city, is an international hub.
Emaar Properties is an Emirati multinational real estate development company located in the United Arab Emirates. It is a public joint-stock company, listed on the Dubai Financial Market, and has a valuation of US$16.8 billion as of August 2023 against the Net Asset Valuation of US$37.6 billion as of December 2022 based on the valuation of assets done by third party valuer. With six business segments and 60 active companies, Emaar has collective presence in 36 markets across the Middle East, North Africa, Asia, Europe and North America.
Mohamed Ali Alabbar is an Emirati businessman, best known as the founder of Emaar Properties, the developer of assets such as the Burj Khalifa and the Dubai Mall, as well as the founder and chairman of Eagle Hills, an Abu Dhabi-based private investment and real estate development company.
Al Ghurair Group, also known as Saif Al Ghurair Group, is a Dubai, United Arab Emirates-based business group founded by the Al Ghurair family. A diverse conglomerate, it has operations in the Middle East, North Africa, Europe and North America. The grandsons of Al Ghurair Group founder Ahmad Al Ghurair run the group. Abdul Rahman Saif Al Ghurair serves as group chairman and Majid Saif Al Ghurair is the group's chief executive officer.
The economy of Dubai represents a per capita gross domestic product as of 2022 of US$46,665. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, announced that the UAE's non-oil trade over 10 years totalled Dhs16.14 trillion. The UAE GDP jumping from $407 billion in 2021 to $440 billion in 2022 and $467 billion in 2023. Similarly, per capita GDP will also expand from $43,868 in 2021 to $46,665 in 2022 and $48,822 in 2023.
The government of Dubai took a decision to diversify from a trade-based, oil-reliant economy to one that is service and tourism-oriented. This has made real estate and other developments more valuable, thus resulting in a property boom from 2004 to 2006. Construction on a large scale has turned Dubai into one of the fastest-growing cities in the world. There are a number of large-scale projects which are currently under construction or are to be constructed in the future. Due to the heavy construction which is taking place in Dubai, 30,000 construction cranes, which are 25% of cranes worldwide, are operating in Dubai. Due to the burst of construction, Dubai has acquired various building-related records, which include: the world's tallest tower, the world's largest shopping mall, the world's largest fountain and the world's tallest hotel. Also under construction is Dubailand, which will be almost twice the size of the Walt Disney World Resort.
Indians in the United Arab Emirates constitute the largest part of the population of the country. Over 3,860,000 Indian expats are estimated to be living in the UAE, which is over 38 percent of the total population of the UAE and the fourth highest number of overseas Indian people in the world, after the United States, Saudi Arabia and Nepal. Indian contact with the emirates that now constitute the UAE dates back several centuries, as a result of trade and commerce between the emirates and India. The UAE has experienced a tremendous increase in the population of resident Indians who initially migrated to the country as a result of opportunities in petroleum. Now, Indians are key to the UAE's construction, retail, financial services, healthcare, manufacturing and transport sectors. A sizeable minority of Indian migrants are involved in professional services and entrepreneurship. Relations between India and the UAE have traditionally been very friendly.
Arabtec Holding PJSC, Dubai's most heavily traded and largest construction group in GCC together with its subsidiaries, provided construction services for residential, commercial, oil and gas, infrastructure, power, facilities management, and property development sectors in the United Arab Emirates and internationally. It operated through Construction; Mechanical, Electrical and Plumbing; Oil & Gas, Infrastructure and Power; and other segments. The company was involved in the construction of high-rise towers, buildings, and residential villas, as well as drainage, electrical, mechanical, and plumbing contracting, and civil and infrastructure construction works. It also engaged in real estate investment, development, leasing, and management activities. In addition, the company manufactured precast panels and steel structures, as well as ready-mixed concrete
"Dubai Inc." is a phrase used to describe a diverse portfolio of companies owned primarily by the government of Dubai. These State-Controlled investment entities grew from what was a vision of Sheikh Mohammed bin Rashid Al Maktoum's predecessors in the year 2000. Since then, the ruling family has selected leading figures to "take over what has proven to be one of the most extraordinary success stories in global investment and development." Some examples of local companies under Dubai Inc. include Dubai World, Dubai Holdings, Emirates, and investment subsidiaries under Dubai World, such as Dubai Ports World, Jebel Ali Freezone, Nakheel, P&O Ferries, and others.
ENSHAA PSC is a developer of projects and a hospitality service provider based in the United Arab Emirates. Their CEO is Raza Jafar.
DAMAC Properties is an Emirati property development company, based in Dubai, in the United Arab Emirates. In January 2015, DAMAC Properties was publicly listed on the Dubai Financial Market. The company operates internationally, providing residential, commercial and leisure properties and has offices in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iran, Oman, and the United Kingdom.
Muhammed Ghassan Aboud is a Syrian entrepreneur and philanthropist. He is a founding members of the Syrian Business Council and the Ghassan Aboud Group. Based in the United Arab Emirates, Abound was listed in the 2018 issue of the Top 50 Most Influential Expats in the UAE by Forbes Middle East.
Mohammed Ibrahim Al Shaibani, is a non-royal government official in Dubai, UAE, currently serving as director general of The Dubai Ruler's Court, a government entity within the Emirate of Dubai.
Hasan Abdullah Ismaik is a Jordanian businessman and Chairman of Hasan Abdullah Mohammed Group, a UAE-based group of investment companies founded by Ismaik in 2006. He owns Marya Development & Real Estate Investment LLC, a private investment company in the United Arab Emirates with a diversified investment portfolio that includes projects worth US$4 billion. He is the Chairman of Al-Ashmal Real-Estate Investment Co. in Jordan; and Chairman of publicly listed Masaken for Land and Industrial Development Projects. In 2014, Forbes Magazine listed Ismaik as the first Jordanian billionaire and the third-youngest billionaire in the Middle East.
Hussain Sajwani, is an Emirati billionaire businessman and the founder of the property development company, DAMAC Properties, and his private investment company, DAMAC Group.
Ram Buxani is a Dubai-based Non-Resident Indian entrepreneur and chairman of the business conglomerate ITL Cosmos Group. He became a well-known figure in the Indian community after his role in influencing the Indian government to abolish estate duty in 1985.
Arada is a property development company based in Sharjah, in the United Arab Emirates.
Union Properties is a real estate development company based in Dubai, United Arab Emirates. The company was formed in 1987 as Union Property Private Limited, and was listed on the Dubai Financial Market in 1993. Previous projects include The Index apartment/office building in Dubai and Dubai Motor City.
Dar Global PLC is a real estate developer headquartered in Dubai that provides luxury residential properties. Founded in 2017, Dar Global currently has 12 projects that are valued at approximately USD 4.8 billion. These projects are located in downtown Dubai, Muscat, Doha, London, and Spain's Costa del Sol.
