The declaration by Servcorp's CEO was followed by the first public announcement confirming 120 day 'hassle free' business licenses will be made available in Dubai.
Office space provider Servcorp anticipates opening up to “50 or 60” centres across the Middle East, CEO Alf Moufarrige told guests at the opening of its new 23rd floor at Boulevard Plaza 2 in Downtown Dubai last night.
“We are putting more money into the Middle East, much more, than we are in the US, South-East Asia and China,” he said. “We've seen Dubai fall over and its re-emergence and it's almost a self-fulfilling dream, it's bringing people from across the globe. We see great potential in Saudi too, for the next 20, 30, 40 years.”
Servcorp, which entered the region in 1999, opening a floor at Emirates Towers, now has 15 floors across the Gulf and Lebanon, including three locations in Dubai. Globally, its network spans 150 locations.
Laudy Lahdo, general manager for Servcorp, Middle East, said it continues to see a “flight to quality” with companies relocating from older, secondary locations to prime, quality buildings.
Attending last night's function was Mohammed Abdulla Shael Al Saadi, CEO of Business Registration and Licensing, Department of Economic Development in Dubai.
He outlined two new projects for the business community.
“We are working extensively with Dubai Port to notarise all memorandum of association electronically, hopefully it will go live by May,” he said.
DED is also launching a 120-day “hassle-free license” for corporates arriving in the city on “quick business”, although they will need to be based in Dubai.
“Once you decide to have a business license in Dubai, all you require is a tenancy contract – then you can start business immediately. No one will bother you for 120 days! Inspectors will visit only to check you are complying with business rules and regulations,” he said.