Media Coverage
Source: Reuters, Yahoo! Maktoob, Arabian Business
Media Coverage
05.08.13
In the last decade, Dubai has thrived as the Middle East's top financial center, but its dominance could be threatened by Abu Dhabi’s plans to create a full-service financial zone on an island near its downtown area. The zone will have its own administration, court system and tax incentives to lure banks and other firms from around the world.
However, partner David Cynamon said that companies might not feel compelled to choose between the two emirates. “Financial institutions and law firms that serve the oil and gas industry, for example, would likely open in Abu Dhabi's financial free zone whether or not they already operate in [the Dubai International Financial Centre].”