Dubai 'is a metropolis of magical towers'

27/02/2013 - Dubai Investment News Posted by Bob Brunskill
Dubai 'is a metropolis of magical towers'

The president of the World Association of Newspapers and News Publishers (Wan-Ifra) has hailed Dubai as a "metropolis of magical towers that lead towards heavens".Jacob Mathew delivered this glowing endorsement of the UAE city during his keynote speech at the eighth Wan-Ifra Middle East Conference.The two-day conference is being held at the JW Marriott hotel and carries the theme "The sky is NOT the limit".It gives influential media personnel from all over the world the chance to meet up and discuss the challenges that are facing the news industry in 2013.The fact that such an important event is being staged in Dubai further highlights the emirate's position as one of the world's premier destinations for exhibitions and conferences.Mr Mathew was full of praise for Dubai during his speech yesterday (February 26th) and he also said the emirate was an "amazing example of all-round growth. Dubai is a futuristic city ... a hub for finance and tourism", Emirates 24/7 reports.It is extremely important for Dubai to have a positive image in the global press, as the city is hoping to attract enough bids to host the prestigious World Expo 2020.The metropolis is up against four other candidates - including Sao Paulo, Izmir, Ekaterinburg and Ayutthaya - and landing the high-profile event will do wonders for Dubai's economy.Members of the government firmly believe that levels of foreign investment would grow sharply in the years leading up to the World Expo if Dubai emerges as the winning bidder.Wealthy foreigners are already falling over themselves to pour money in to assets throughout the city as it is.Dubai's property sector is particularly attractive, as prices rose considerably in 2012 and construction firms are launching a plethora of amazing projects that will be completed in the coming years.The emirate also benefits from world-class transport infrastructure and has the third busiest airport on the planet to boot.Renowned as a playground for the rich and famous, Dubai attracts all manner of well-off celebrities who are only too happy to splash their cash in the many gourmet restaurants, designer boutiques and exclusive clubs.