With the Middle East growing in importance year on year in terms of being a hub for international commerce, the idea of having an office located in the region is one that many businesses are now considering. As with any other destination, there is plenty of choice and something to suit most budgets. However, depending on the area of operations of the business some locations may be more suitable than others.
The tiny island nation of Bahrain was the first place in which oil was found on the Arabian side of the Persian Gulf. Manama is the capital city and so provides an excellent place to do business all over the Middle East. Ownership rights are more extensive than elsewhere in the region and allow foreigners to fully own land and property in certain designated zones such as Manama and Greater Manama.
The city and emirate of Abu Dhabi is another great place to consider. The capital of the UAE, it is where the Emirati government is located. The UAE also has one of the highest GDPs per capita in the world and is the richest emirate in the country. With more than one trillion dollars invested in the city it is a hotspot for international investors and entrepreneurs, partly due to it being a tax-free and duty-free city.
With one of the most forward-looking economies in the region, driven by a government that takes an active role in creating a social system that is one of the most advanced in the region, Kuwait is another on the list of potential locations for an office presence in the Middle East.
Fahad Al-Rajaan, Al Ahli United Bank director since July 2000, is also the chairman of the Kuwait Real Estate investment Consortium and is the perfect example of an individual who can give advice on why his country could make the perfect base for a company’s physical location in the Middle East. Other sources of information include IO centers, which is the region’s fastest growing network of upscale, affordable, and ready to use business space located in Kuwait’s most desirable locations.
Wherever a company might eventually choose to base its operations in the region, any firm that makes the decision to fully immerse itself in the Middle East is bound to reap the rewards as the entire global economy continues to shift towards it too.
Without a doubt the way that the Middle East has been emerging on the world stage, and diversifying its economic development away from the reliance on the oil industry, means that it now has far wider attraction for business of all kinds. The continued embracing of technology, infrastructure and construction projects means that forward looking investors and entrepreneurs are all aware of the potential and possibilities the region can offer.