DUBAI –The UAE has ranked fifth in the global ranking for ease of getting building permits, according to World Bank statistics for 2014. By jumping up 13 ranks, Dubai officials say that they expect a boom in construction – impacting the business sector in general. “Our next aim is to be in the top three, and in turn to increase our rank in starting a business and attract investors. To achieve the highest global rank, we have to collaborate further with other government departments to facilitate the service in attracting investors,” said Marwan Abdullah Al Mohammad, Acting Director, Building Department at Dubai Municipality. Ranked first for the Ease of Construction Permits was Hong Kong, followed by Georgia, Singapore, and Bahrain in at 4th. The ease of doing business index is an index created by the World Bank. Higher rankings indicate better, usually simpler, regulations for businesses and stronger protections of property rights. According to the World Bank, a high ranking on the ease of doing business index means the regulatory environment is more conducive to the starting and operation of a local firm. According to the latest statistics for 2014, the bottom of the rank was shared among four countries – Syria, Libya, Eritrea and Albania - at 189. Hussain Lootah, Director General of Dubai Municipality, yesterday explained that the report will boost the already thriving real estate business. According to the evaluation committee of the World Bank report, the term ‘building procedure' includes all actions starting from designing plan to the final stage of service connections.. — Agencies
