UAE well-positioned to offset global woes
- 12 hours ago
On April 2, President Donald Trump imposed the steepest US tariffs in a century. Middle East share markets plunged. Oil prices fell to their lowest level in four years.
But the panic was misplaced. Markets have already clawed back some losses. And looking closer, one thing is clear: the Middle East is better positioned than almost any other region to thrive in this new era of economic battles.
One significant impact of higher US tariffs has been lower crude oil prices. Markets worry that tariffs will slow the global economy and slash oil demand. Of all countries in the Middle East, the UAE has the least to fear from this risk.
This was stated by Kashif Ansari, Group CEO, IQI, during an exclusive interview with Gulf Today, adding that the country has successfully diversified its economy away from petroleum, with the non-oil GDP growing by 46% over 10 years and accounting for about three-quarters of output.
“Evidence of this diversification is easy to spot in icons like the Burj Khalifa (real estate and construction), Emirates Airline, Jebel Ali Port (global trade), and Dubai Mall (consumer spending).” Ansari added.
He noted that he is not the only one who sees how well the UAE is positioned. In 2025, the flow of wealthy individuals moving to Dubai and Abu Dhabi is set to accelerate.
“At Juwai IQI, where we work closely with buyers from China, India, Malaysia, Singapore, and Hong Kong, the UAE ranks year after year as a top-10 destination for international property investment — ahead of much larger countries.”
“Dubai and Abu Dhabi have become global financial and lifestyle centers for high-net-worth individuals. The population of residents with assets exceeding $100 million doubled over the past 10 years and will double again in the next decade.”
“It’s no coincidence: with the HNWI population booming, more $10 million-plus homes were sold in the first quarter of 2025 than ever before. Today, three Dubai properties rank among the top 10 most expensive homes in the world currently for sale.”