The Phaserl


Dubai to global bankers: ‘Expect another boom’

from GulfNews:

Some of Dubai’s top officials told international bankers on Monday that it was gearing up for another boom and did not regret the pro-growth policies it used during the first boom. It appeared to win the endorsement of many of the bankers.

Over a dozen top Dubai officials and executives met about 100 representatives of financial powerhouses including Deutsche Bank, Nomura Holdings and Fidelity Investments for the emirate’s first big investor roadshow since the crisis.

“If Dubai had to do the same again, most likely we would follow the same approach,” Mohammad Al Shaibani, chief executive of Investment Corp of Dubai, told the audience at Deutsche Bank’s London offices.

He argued that heavy investment in Dubai between 2006 and 2008 had succeeded in setting the emirate up as a major centre for finance and trade.

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