Dubai more attractive to investors, says Dubai Chamber
Falling commercial and resident rents and reduced cost of doing business in Dubai are making...
September 6, 2009 12:01 by kippreport
Falling commercial and residential rents and reduced costs of doing business in Dubai are making the emirate attractive to potential investors, according to the director general of the Dubai Chamber. Hamad Buamim cited the law eliminating the minimum capital requirement for limited-liability companies (LLC) and the Central Bank’s decision to lower capital adequacy from 11 to 7 percent as reasons for Dubai’s attractiveness.
“It is important to maintain an optimistic outlook as we note down an increasing number of positive indicators — decreasing rents, lower expenses of businesses and cost of living, the recently introduced laws on abolishing the minimum capital requirement for LLC companies and the Central Bank’s decision to reduce capital adequacy from 11 per cent to 7 per cent,” Buamim said.