Increase in trade licence applications adds to Dubai’s economic

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A significant increase in the number of trade licences which have been issued by the Dubai Department of Economics (DED) in July has added further weight to the idea that the region is on the fast-track to a swift economic recovery.

Both the professional sector (29%) and the commercial sector (4%) saw significant increases in the number of licences issued compared to July of last year.

The news follows reports regarding renewed foreign investment in property within the region, another reason to be optimistic about the future of Dubai’s economy generally.

Foreign investors purchased real estate worth DH28.3 billion in the first half of the year, according to government figures. This represents a 3.6% increase against the previous year.

It was also revealed earlier this year that more than DH36.73 billion of foreign investment flooded into the United Arab Emirates over the course of 2011.

According to Knight Frank’s quarterly Prime Global Cities Index, apartment prices increased by 5% in the second quarter of 2012 compared to six months ago.

The rising rental and sales prices in Dubai are attracting investors who are hoping to gain rental returns and profits from property from all over the world.

Transferring money to Dubai

Anyone who is looking to transfer money to Dubai might wish to review their options and find the best way to send money abroad.

If you are looking to invest in Dubai, think carefully about how you will be sending money to the region. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Dubai – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Increase in trade licence applications adds to Dubai’s economic

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