Business Confidence Increasing in UAE

Published February 1st, 2010 - 07:38 GMT

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A recent survey carried out by law firm Eversheds highlighted that confidence in the UAE’s economic outlook for 2010 is around 30-40 per cent higher than other major international business centres such as London and New York, which points toward the start of a recovery within the local markets.

Sentinel Business Centres, a Dubai based commercial solutions provider, supported this confidence boost with its recent announcement that occupancy in its Monarch Business Tower serviced offices was up nine per cent by the end of Q4.

“We see the end of 2009 as a turning point as confidence steadily begins to return to the market, which was evidenced by a noticeable tenancy increase in our serviced offices. In particular, small and medium sized businesses are looking to anchor themselves in the UAE market.

“Dubai presents solid opportunities to start business operations as the recession has pared down competition and made investors more inclined to conduct wider research into what companies have to offer. This means that smaller dynamic companies have a decent competitive advantage from the outset,” said Steve Mayne, Director Sales and Operations of SBC.

SBC has built a solid platform from which other companies incorporated into it can benefit from. Extensive local knowledge and a strong network among the business community mean that a partnered company becomes a part of a well established organization, which in turn bolsters potential growth.

“We are capable of offering start-up companies a partnership with SBC that provides a full turn-key company incorporation service and business start up consultancy. Our strategy is to streamline the whole process of setting up in the UAE to support the increasing confidence levels and grass roots growth we are seeing the start of,” added Mayne.

A range of value added services are included within each customised agreement that include; access to state-of-the-art meeting rooms with video conferencing, dedicated receptionist services, mail handling, IT services, hot-desks and concierge services.

“Our strategy for 2010 is to maintain and develop our commercial programmes to provide the opportunity for both local and international companies to have a presence in the UAE. In terms of expansion we aim to increase our commercial offering by around 33 per cent over the course of the year,” he said.