Where’s Dubai headed?

Where’s Dubai headed?

A list of recent quotes from people and companies predicting what the emirate can look forward to in the near future.

June 17, 2009 11:00 by Aarti Nagraj

4. The Dubai International Airport is forecasting an increase of 4 to 5 percent in passenger traffic for the first half of the year, said Sheikh Ahmed Bin Saeed Al Maktoum, chairman of the Dubai Airports at the Paris Air Show. “Dubai has been a beacon of light during these turbulent times,” he added.

5. “Things [the Dubai stock market] will probably start picking up again ahead of second quarter results in anticipation of good number coming out even from real estate companies,” Haissam Arabi, CEO of GulfMENA Alternative Investments, a regional hedge fund told Gulf News earlier this week. Emaar stocks pushed the Dubai Financial Market to a seven month high on June 14.

6. The annual shopping event, Dubai Summer Surprises (DSS) started last week, and Laila Suhail, the CEO of the DSF Office, is confident that it will do well despite the current economic climate. She said that there was a general consensus within all private sector entities that the coming months would rake in higher revenues for businesses.

“There has been a lot of talk on how DSS will influence sectors like retail and hospitality this year and from what we have gauged, the current mood is optimistic,” she said.

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Tags: airport, Dubai, Economy, Financial Crisis, market, property prices, Retail, shopping, spending