Legal abroad: Doing business in Dubai

By Alain Farhad, Mark McMahon and Ali Auda 2019-09-19T09:30:00

Beginning our new series on the legal issues to consider when operating abroad, Alain Farhad, Mark McMahon and Ali Auda look at Dubai

With a GDP of $108.4bn, Dubai has become a global business centre. Although initially built on oil revenues, the Emirate has diversified its economy to the extent that oil production contributes less than 1% of GDP.

Dubai is also currently preparing to host Expo 2020, which organisers say could attract 25 million visitors. In concert with the rise in non-oil exports and increased crude oil prices, it is no surprise that the construction industry in the UAE overall is expected to rise at a compound annual growth rate of 4.64% during 2019-23, up from 1.08% in 2014-18, and is expected to hit $101.2bn by 2023.

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