Dubai's economy growth and completion of One At Palm Jumeirah

Completion of the premium residential complex, One At Palm Jumeirah

Completion of the premium residential complex, One At Palm Jumeirah was announced by the developer, Omniyat. The complex includes 94 premium residences with private landscaped terraces and pools. Previously, 3 of the Dubai's most expensive penthouses were sold here.

DIFC, international financial centre in Dubai, recorded best annual performance in 2021 since its incorporation in 2005.

Compared to 2020:

• Revenues increased by 16% ($244 million), operating profit increased by 26% ($156 million)
• Number of active companies increased by 25% (3,644)
• Number of new registrations increased by 36% (996)
• Total banking assets increased by 5% ($198.5 billion)

The IMF estimates that the UAE's economy increased by 2.2% in 2021.

The growth of the non-oil sector was 3.2%. According to the Central Bank of the UAE, the economy will increase by 4.2% in 2022. The previous forecast was 3.8%. Expected growth of the non-oil sector is by 3.4% Sources: Gulf News, Media Office Government of Dubai, The National News