United Arab Emirates
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Duplication without permission is prohibited 12 THE JAPAN TIMES A SATURDAY, JULY 28, 2007 Special Economic Reports (3) WORLD EYE REPORTS UNITED ARAB EMIRATES UAE remains the definitive gateway in the Gulf Just 36 years after its formation, the United Arab Emirates, once dependent on fishing and pearling, has grown into an immensely wealthy country. Today, this federation of seven states leads its neighbors in development and quality of life, and is Offering state-of-the-art infrastructure and facilities with all the considered the foremost economic gateway to the Arab world. benefits of a free zone, The Dubai Biotechnology and Re- search Park aims to be a center of biotechnology and research. It With access to 1 billion con- the establishment of free-trade shi Corp., Obayashi and Kajima the UAE’s future. Japan under- fosters education, training and industry support for the creation sumers stretching from the Mid- zones, which offer a full range have secured the contract to stands this and is excited to and development of biotechnology in the region. dle East all the way to the Com- of incentives to investors — build the Dubai metro rail sys- take part. The core element of www.dubiotech.com monwealth of Independent from total foreign ownership, tem. Japan-UAE relations is trust. States and sub-Saharan Africa, full repatriation of profits, 50- Takuma Hatano, Japan’s For Japan to build further on the UAE has become an eco- year corporate tax holidays, ambassador to the UAE, be- that trust, we must respond to nomic power in so short a time. and zero import and re-export lieves that the future holds suc- the needs of the UAE in human The sharp rise in oil prices in duties, among others. cess for both countries. capital development and trans- 1973 may have created more The effectiveness and viabili- ‘‘Oil, financial investment and fers of technology,’’ says Ha- The jack of the electronics trade wealth than the country ever ty of this model has seen the logistics are the three pillars of tano. x expected. But the growth and establishment of dozens of ‘We don’t aim to be the biggest but to be the best at what we free-trade zones in each of the UAE Minister of Economy Shiekha Lubna bint Khalid Al Qasi- do,’’ says Jacky Panjabi, managing director of the family-run emirates, with a diverse range mi leads her country’s delegation to the UAE-Japan Business Jacky’s Group of Companies, headquartered in Dubai. of sectors represented — from Forum held in Tokyo in April. JETRO automakers to flower dealers. Established in Hong Kong in 1970 as a small mail-order compa- These zones have allowed ny, Jacky’s has grown to become one of the most celebrated the UAE to become not only a brands for electronics, IT and home appliance retailing. The com- regional center but a global hub encouraged to do Marina III, IV, V and VI together,’’ says Saeed. pany has also launched its own brand of home appliances called for goods and services. The real deal in Dubai Diamond is starting several new developments, including a new ‘‘Venus,’’ which is sold all over the Middle East and Africa. ‘‘If you talk about globaliza- residential project in the Jumeirah Village area with 1,500 apartments Jacky’s opened its office in Dubai in 1985, first as an extension tion, there is no better example Dubai’s property market has continued to heat up with and 150 town houses, a 108,000-sq.-meter commercial development of the group’s mail-order business. Today, it is recognized as one than Dubai. We represent over demand for real estate and foreign investment in the region in Arjan and a luxury building in the Lagoons area facing the opera of the top electronics retailers in the UAE with nine multibrand 100 countries here with almost growing sharply. Amid all the record-setting developments, house. outlets. In 1987, the group opened an office in Singapore. every language in the world radical marketing and soaring prices, not many developers As of February, Diamond has sold 1,300 apartments in the Marina ‘‘It’s a very good combination of having them (the offices) in heard on a daily basis,’’ says have made the cut. Diamond projects and 350 apartments in Jumeirah Village without three duty-free places, where the goods are freely available and Sultan Saeed Al Mansoori, the any grand advertising campaigns. the governments are really supporting business,’’ says Panjabi, UAE minister of development Diamond Investments General Manager Faris Saeed, a civil en- ‘‘We can afford to sell at those prices because we are contractors whose business has worked with top Japanese companies like for the government sector. gineer by profession, set up the company together with five partners ourselves. Our background is contracting management. We can get Sony, Panasonic, Toshiba, JVC, Sanyo, Fuji Film, Yamaha and ‘‘When conferences come up when the government of Dubai started opening a series of freehold, better prices for construction than others without compromising quali- Canon in many global markets, including Africa. EMBASSY OF JAPAN that talk of the challenges of leasing and free-zone areas in 2003. And in those four years, busi- ty. When we go into the breakdown of the building, we go into detail In 1994, the group made its first foray into Africa, opening a Takuma Hatano, ambassador globalizing, I tell them that in ness has been very successful. and discuss the price for every part,’’ Saeed explains. duty-free outlet in Kenya. It has 11 retail of Japan to the UAE Dubai, we do not talk about In the first three years, the company launched six residential build- But it is client care that has distinguished outlets spread across Kenya, Tanzania globalization as an idea. We ings with 1,300 apartments in the Dubai Marina due for completion Diamond from other companies. and Uganda, where a strong distribu- development of the UAE could live and breathe globalization this year. ‘‘I like to meet my clients so I can get tion network has been established. not have happened without the every day. We are a successful ‘‘We were the first company in Dubai, in fact, to deliver on time,’’ feedback from the market. This is part of ‘‘We are the exclusive distributor strong leadership of its late example of how globalization boasts Saeed. our success because we design our build- of Sony in Kenya. We have got a leader, His Highness Sheikh can be beneficial to countries The company’s original clients, mainly inves- ings according to the needs of the people. very prestigious showroom for Sony Zayed bin Sultan Al Nahyan, providing that they know how to tors who each bought several apartments to We are always updating our designs to in Nairobi, which is the No. 1 show- and his prudent management of manage it,’’ he adds. rent out, have seen property values appreci- the needs of the market,’’ says Saeed. room in the whole of Africa,’’ he em- the nation’s oil reserves. Managing a diverse local ate between 100 percent and 120 per- Diamond has clients from 60 coun- phasizes. Today, His Highness Sheikh economy, where 80 percent of cent. To his credit, Saeed spot- tries around the world and many of At present, Jacky’s has branches Mohammed bin Rashid Al Mak- the 2.6 million residents are ex- ted the property boom three them have brought in referrals. in Tanzania, which represents toum, the prime minister of the patriates, requires not only years ago and took advantage. Most of its customers Kodak and other global UAE and ruler of Dubai, has openness but the proper phys- ‘‘We were planning to do on- are from the United brands, and an office in Ugan- provided the same kind of lead- ical infrastructure. ly one building — Marina I. But, Kingdom, but the com- da, which distributes Sony, ership and clear vision that has The UAE, through Abu Dhabi we sold the building in three pany hopes to reach Toshiba, JVC and Canon. It united all seven emirates. and Dubai, is leading the way months. So, we went to Marina more into the Asian also recently became Fuji While economic growth has through an assortment of me- II. For Marina II, we sold the market as it plans to be Film’s distributor in East Afri- JACKY’S DIAMOND INVESTMENTS been centered in Dubai, the six gaprojects. The Dubai World DIAMOND INVESTMENTS 270 apartments in 40 days, the Dubai’s No. 1 private- ca. other emirates have stepped up Central International Airport, Diamond Investments Gener- full building in 40 days. After I The Marina I development of sector company. x Jacky Panjabi, managing di- Its location in the UAE has efforts to catch up. Abu Dhabi, when completed, will be the al Manager Faris Saeed sold Marina II in 40 days, I got Diamond Investments www.diamond-investments.ae rector of Jacky’s Electronics CONTINUED ON PAGE 14 the nation’s capital and largest world’s largest passenger and emirate, is exploring sectors cargo hub. beyond oil and gas while Ras al Meanwhile, Abu Dhabi is po- Khaimah, the northernmost sitioning itself as the cultural Today is the people era, Ayat says. With the population growing 1999, our Nissan lineup has gone from between 10 to 11 models to emirate, is venturing beyond its hub of the Middle East with the Capturing the Gulf market and per capita GDP rising, consumers have so many more choices, 18. By putting Nissan in every product category, we are able to get traditional industries of cement opening of the Guggenheim and there are several tried and tested processes for companies to customers from early on, say 20 years of age, and maintain them and ceramics.