Knight Frank: UAE transport infra ranked third best globally
The UAE’s quality of overall transport infrastructure is ranked third best in the world as government investment in the logistics and industrial sectors soar
The UAE’s quality of overall transport infrastructure is ranked third best in the world as government investment in the logistics and industrial sectors soar, a new report finds.
Knight Frank has compared seven key global hub cities, across four sectors and a range of indicators to showcase Dubai’s global standing.
According to Knight Frank’s Hub Report, the logistics and industrial sectors over the last 10 years to 2017 have recorded anaemic growth of 10.7% in Dubai compared to Hong Kong (42.0%), Singapore (59.6%) and Shanghai (85.8%).
To support the sector’s growth, Dubai has invested heavily in transport and infrastructure improvements over these years, which as a result is now ranked the third best in the world.
“Dubai’s expected industry growth rate of 57.4% over the 10 years to 2027, is expected to outpace those in our selected global hub cities,” said the report.
The UAE has ranked favorably in additional areas as compared to other global countries represented in the report, including China, Singapore, Australia, France, and the United States.
This includes areas such as aviation, where the UAE’s International Airport’s freight volumes ranks third among Knight Frank’s selected locations, with only China and the United States ranking higher.
Dubai’s main port's, Jebel Ali, output is ranked the fourth largest among key hub cities, while the city ranks second lowest in terms of prime industrial rents at $103 per square metre, which is marginally higher than Shanghai’s $101 per square metre.
In addition, the domestic financial and business services sector grew 55.6% in the last decade with only Shanghai (114.3%) outperforming Dubai.
“As part of the UAE’s economic diversification plan (UAE Vision 2021) and Dubai’s Industrial Strategy 2030, the development of the industrial sector is seen as strategically important goal for the sustained long term success of economy,” the report added.