axum emirates
The UAE has a rapidly growing and open economy with a high per capita income ($49,700) and a sizable annual trade surplus. Combined with Saudi Arabia and Kuwait it reaches $1.3 trillion. Traditionally an oil-based economy, the government of the UAE is trying to diversify and reduce its dependence on energy. As a result tourism and real estate development are the fastest growing sectors of the economy.
The Emirates are ambitiously establishing themselves as a business, cultural and educational hub. Dubai is a growing business centre of the Middle East. It is actively developing itself into a regional centre for a catchment area of 1.6 billion people. Furthermore, it hosts the headquarters for many global 500 companies. Moreover, it has a booming tourism industry which is set to grow further. Abu Dhabi has commissioned, among others, the erection of the new Louvre and Guggenheim museum. It has also announced siginificant investments in education.
The projects Axum is involved with are among the first master developments, fulfilling the vision of the royal governments of Abu Dhabi and Dubai to turn the Emirates into the major financial, cultural and tourist center of the Middle East/Indian sub-continent region. To facilitate this, property ownership laws have been amended and liberalized, with foreign direct investment in designated areas now permitted.
AXUM’s vision is to establish a strong presence in the emerging real estate markets of the Middle East over the next 10-15 years. To that end, AXUM Emirates is currently being set-up in the UAE in collaboration with a strong local partner, a move welcomed by the Emirates government.
The current project pipeline consists of four specific opportunities: the result of Axum’s proactive screening as well as applying proven skills to realize attractive opportunities.
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