Development in all emirates will boost UAE economy: paper

4/30/2016 3:31:36 AM

(MENAFN- Emirates News Agency (WAM))

ABU DHABI 30th April 2016 (WAM) -- The UAE's metamorphosis over the past 45 years has been stunning from a young nation lacking in infrastructure it has transformed into an international hub of industry aviation tourism and medicine. It has world-class facilities that attract investments from multi-national companies. People flock from all corners of the globe looking for employment and a better life here commented a UAE daily.

Gulf News in its today's editorial said that Dubai and Abu Dhabi led the charge of development as the two emirates developed crucial sectors. In no time they were among the top cities of the world. But now there is growth all over the country. Ras Al Khaimah has seen phenomenal development and it is being described as having the potential of becoming the St Tropez of the UAE. Delegates at Arabian Hotels Investment Conference have stressed that Ras Al Khaimah will see the highest growth over the next five years.

"But if Ras Al Khaimah is where people will throng to seeking affordable luxury then Umm Al Quwain is seeing development too" the paper wrote adding that the Umm Al Quwain Government has signed an agreement with real estate developer Sobha Group to launch an integrated resort and residential island. Firdous Sobha will cover an area of 53 million square feet and will include hotels resorts retail outlets sea-front villas terraced apartments and an 18-hole golf course. "The vision is to transform Umm Al Quwain into a tourist and commercial destination."

The paper in its concluding paragraph said that "The UAE is blessed with natural resources and when this is combined with carefully-planned development the results are astonishing. Dubai and Abu Dhabi are examples of this and now other emirates are marching ahead too. This will bolster the economy by boosting trade and tourism. A nation that sees all-round development is strong and ready to meet any challenge. The UAE bears testimony to this."

WAM/AAMIR

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