In an interview for Arabian Business, David von Rosen warned of the impact that rising commercial rental costs in Dubai could have on the city’s emergence as a global hub for tech start-ups.
David explained that as more businesses choose to set up in Dubai, the supply of commercial property to host these businesses has struggled to keep up, driving prices rapidly. He voiced concerns that if the price of office space kept increasing, tech start-ups that needed to become profitable quickly would start to look elsewhere for a place to base their business. And this factor could lead to a slowdown in growth and innovation in Dubai’s thriving startup scene.
In the interview, David argued that the biggest risk of high rentals comes from businesses opting to move away from the UAE and Middle East entirely. European countries such as Germany are rethinking their visa policies to attract talented entrepreneurs, providing competition to Dubai, he noted.
“Even while Dubai may have a shorter history in the tech sector compared to established hubs like the US, the speed at which it has cultivated a flourishing tech ecosystem is unparalleled. It’s an exciting place to be right now, and I wouldn’t want to see anything get in the way of that.”
Dr. David von Rosen
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