Seems like, Dubai’s business confidence regained in the third quarter of year 2011 as statistics show that businessmen flock back to Dubai and the overall UAE’s economy is back on track. According to experts, this growth is not fueled by growth in oil-sector but driven by many non-oil sectors and one of them is commercial property sector of Dubai real estate. The Business Confidence Index (BCI), a local businessmen survey indicates a soar in points in terms of corporate activities in third quarter as compared to the points gained in the second quarter. The survey was conducted on various types of businesses including small and medium sized firms.

The survey clearly indicated that few of the businessmen expect high profits in the upcoming Q4 while the rest realized high sales that will be stable in next year 2012 as well. Whereas, many Dubai real estate agents and other business owners said they are already making high profits and their revenue is quite stable from 3^rd quarter. The rise in the profit is not due to rise in prices but due to increase in sales. Many services providing companies also expect growth in their sales and resultantly rise in revenue and profit as well. According to them, people are flying back to Dubai so there is a surge in the demand of their services.

Products providing companies also expect good business in the upcoming year so most of them have postponed their plan to reduce their workforce and said they would retain their current work force. There are many business owners who have disclosed their plans that they want to hire more people in near future because their business is growing. Like all other regions, Dubai was hit by global fiscal distress in 2008 but the economy is coming back on its track and this growth is fueled by non-oil trade.

According to experts, the stir in Dubai’s business activities, sales, tourism and other non-oil business sector may result in growth in construction and Dubai real estate sectors and the overall economic conditions as well.