23/01/2012 - Dubai Investment News Posted by Neil King
A new survey has revealed that Dubai's business mood surged in the fourth quarter of 2011, people interested in UAE property will be interested to note. Indeed, the Dubai Economy Department (DED) found that businesses expect higher profits and sales by companies in the emirate. The DED said that business confidence in the emirate climbed by around 16 per cent to 133 points at the end of the fourth quarter, up from 115 points at the end of the third quarter. Furthermore, it said that 67 per cent expect a 12 per cent quarter-on-quarter rise in sales in the first quarter of 2012. Some 55 per cent of those polled, meanwhile, forecast higher corporate profits in the same period. However, 39 per cent admitted to being slightly less optimistic, forecasting profits to stabilise in the first quarter of this year. Dubai's economy suffered a downturn in light of wider problems, but there appears to be plenty of optimism in the business community that the emirate is making a steady recovery.