The past three years have been confusing for many business owners, and even many industry’s veterans are still in doubt what is on the cards for Dubai economy in the near or long term future.
Contradictory reports and articles continue to emerge in media sources, claiming that property market is reviving; inflation is slowing down or jumping up on monthly basis; stock markets are slow and there is no liquidity, but Government backed bonds are five times oversubscribed and so on.
In such flow of information, one could easily confuse about the direction in which we and the Dubai’s economy is going.
To help get the picture clearer, we would like to share few observations from the daily life.
Long waiting lists at the “Outstanding” ranked by KHDA schools
Fact: Year 7 admission at Welington School was closed long ago, and the waiting lists currently consist of 60 applications. The annual tuition fee is AED55,000.
No parking at DEWA offices
The time when going to DEWA’s offices was taking half hour is long gown. Nowadays, you have to round for at least half hour to grab a parking spot. A number of security officers sweat under over 44 Celsius to help navigating the traffic and ensure faster movements. It is strongly advisable to pay bills online and on time.
Events organizers fully booked after middle of September
Industry professionals shared with Dubai Chronicle information that their calendars are pretty well filled with corporate events for long established clients after the middle of September and from the beginning of October onwards.
Street-side advertising billboards sold out
When you drive around Dubai, have a look at the advertisement boards beside the streets. With the real estate companies trimming or erasing advertising budgets, advertisers have had no options, but to reduce tariffs. Billboards space become more affordable and is now packed with luxury brands ads, such as for Debenhams, Chanel, car dealers and so on.
These are just few simple observations from our daily lives and you are welcome to share yours, either support or contrarian views.
However, we say: Get ready for a ride!