Dubai’s ambition knows no bounds
A sluggish global economy, low oil prices, conflicts in the Middle East and a migration crisis that is splitting Europe have not dampened the UAE’s enthusiasm for growth. This positive streak and a sense of dynamism has helped the country survive downturns in the past. It has kept the economy in good stead. The country is well positioned to grow because of the diversification strategy of the government. What’s important is the speed at which projects are being implemented. Only last month the cabinet decided that the economy needs to diversify at a quicker pace. Sectors other than oil need to thrive for the economy to reach its potential.
The country is investing in people, processes and businesses in a major way. It’s creating an eco-system for those willing to work hard; for those who walk the extra mile in pursuit of excellence where nothing less than the best will suffice. His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, is a leader in a hurry, who believes there is opportunity in every slowdown. So, on Tuesday, he announced plans for Dubai Wholesale City, the largest global wholesale hub, which will cover 550 million sq. feet. It is expected to cost Dh30 billion to build over ten years and fits in nicely with Dubai’s Expo 2020 plans.
The Vice-President wants the UAE to become the centre of the world. And just when you thought that Dubai’s building ambitions were over, Shaikh Mohammed announces this project. There’s an element of surprise, an air of expectation every day in the happening metropolis, which prides itself in being a Smart City. In fact, this mega Smart City comprises mini ‘Smart Cities’, which makes it smarter.
Interestingly, this is not just a bricks and mortar real estate business project with country pavilions, commercial centres and malls. ”It aims to enhance the UAE’s capabilities in the global e-commerce space that is set to grow from $1.672 trillion to reach $2.941 trillion in 2018,” according to news agency Wam. It will be the world’s largest e-commerce platform for wholesale trade in the region. The real and virtual come together. It can’t get bigger than this.