The United Arab Emirates is a high-income developing market economy. The UAE's economy is the 3rd largest in the Middle East, with a gross domestic product (GDP) of US$415 billion in 2021-2023.
The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East. Located at the eastern end of the Arabian Peninsula, it shares borders with Oman and Saudi Arabia; as well as maritime borders in the Persian Gulf with Qatar and Iran. The United Arab Emirates is an elective monarchy formed from a federation of seven emirates. As of 2023, the UAE has an estimated population of 9.97 million. Emirati citizens are estimated to form 11.6% of the population; the remaining residents are expatriates, the majority of whom are South Asian. Islam is the official religion and Arabic is the official language. Abu Dhabi is the country's capital, while Dubai, the most populous city, is an international hub.
Emirates is one of the two flag carriers of the United Arab Emirates. Based in Garhoud, Dubai, the airline is a subsidiary of The Emirates Group, which is owned by the government of Dubai's Investment Corporation of Dubai. It is the largest airline in the Middle East, operating over 3,600 flights per week from its hub at Terminal 3 of Dubai International Airport. It operates to more than 150 cities in 80 countries across six continents on its fleet of nearly 300 aircraft. Cargo activities are undertaken by Emirates SkyCargo.
Dubai is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the country's seven emirates.
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.
Jebel Ali is a port town 35 kilometers (22 mi) south-west of Dubai. The Jebel Ali Port is located there. Al Maktoum International Airport has been constructed just outside the port area. Jebel Ali is connected to Dubai via the UAE Exchange, Danube and Energy stations on the Dubai Metro. Among the infrastructure projects built to support the port and town is the world's largest desalination plant, the Jebel Ali Desalination Plant, providing an ample supply of freshwater.
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
Kabir Mulchandani is an Indian-born, Dubai-based real estate and hospitality businessman and philanthropist. He is the founder and Chairman of FIVE Holdings, which includes FIVE Hotels and Resorts; FIVE Palm Jumeirah, FIVE Jumeirah Village, FIVE Zurich, FIVE LUXE, and FIVE Music along with The Pacha Group. He is ranked as one of the Richest and Most Powerful Indians in the Persian Gulf region. He is ranked number 24 on the Top 100 Travel and Tourism leaders of 2023 by Forbes Middle East.
ENSHAA PSC is a developer of projects and a hospitality service provider based in the United Arab Emirates. Their CEO is Raza Jafar.
Muhammed Ghassan Aboud is a Syrian entrepreneur and philanthropist. He is one of the founding members of the Syrian Business Council and the Ghassan Aboud Group. Based in the United Arab Emirates, Aboud was listed in the 2018 issue of the Top 50 Most Influential Expats in the UAE by Forbes Middle East. In 2019, his net worth was estimated at $1.75 billion by Forbes magazine.
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.
Migrant workers in the United Arab Emirates describe the foreign workers who have moved to the United Arab Emirates (UAE) for work. As a result of the proximity of the UAE to South Asia and a better economy and job opportunities, most of the migrant foreign workers are from India, Nepal, Sri Lanka, Bangladesh, and Pakistan.
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.
