UAE economic growth 'to rise in 2010'

24/11/2009 - Dubai Property News
UAE economic growth 'to rise in 2010'

Posted by Bob Brunskill

The future may be looking brighter for those who have a property in the UAE, according to Standard Chartered.

It predicts that the economy for the region will be improved in its quality moving forward into 2010.

Marios Maratheftis, regional head of research for the Middle East, North Africa and Pakistan division of the company, commented: "A more sustainable path to growth is ... investment in the real productive sectors of the economy, investment in infrastructure that will increase productivity of people and capital."

The representative added that the aim would be to push growth forward not just for the present but for future decades and this is what next year would witness for the emirate.

Standard Chartered predicts that Dubai growth will be three per cent for next year, with Abu Dhabi growth at five per cent. Its overall prediction for the UAE is growth at five per cent.

The company was first established in the UAE in Sharjah in 1958 and as the firm developed it moved into Dubai. Today Dubai stands as the company's administrative base.

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