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ETA InfoTech foresee investments opportunity at GITEX 2008
ETA InfoTech, the IT arm of Dubai-based ETA Ascon Star Group, announced investment of Dhs55m in the region's healthcare, education and BFSI (banking, finance, securities, and insurance) sectors in line with the government's vision for the UAE.
As pioneers in providing IT solutions to the UAE's Healthcare and Education, the company's decision to invest more in these sectors is in response to the growing market requirement for seamless integration of products and services in the region.ETA InfoTech is showcasing its flagship Products & Solutions in the fields of Healthcare, Education and BFSI at Gitex Dubai 2008, the annual Information Technology exhibition being held in Dubai from October 19 to 23.
The company's stand is located at D6- 40 in Hall-6 of Dubai International Convention & Exhibition Centre, where it has displayed its 12 flagship products.
ETA InfoTech provides high-end products and solutions in ERP, Banking, Fleet Management & GPS-based Tracking, Driving School Management, School and College Management, Content Technology & e-Learning, Business Intelligence, Healthcare, CRM and Video Conferencing.
ETA InfoTech has branches across India, the USA, Middle East, South East Asia and Africa and has development centres in India, Bangladesh and Dubai.
On the IT Solutions front, ETA InfoTech has partnered with leading technology providers, namely Oracle, SAP, Microsoft, Sun, HP, Cisco, NetApp, 3Com, Symantec, Trend Micro, Avaya, Talisma, Infowave, Bosco and IMS.
Some of ETA InfoTech's customers in the UAE include the Government of Dubai, Abu Dhabi Municipality, Ministry of Health, Ajman Ports, Weatherford, Wafa Oil and Field, LG, IBM, Mitsubishi, Lornamead, Wade Adams, Ascon, Star Properties, Khalidiya Palace Residence, Al Reem Island, Al Jurf, Damas, Al Haseena, GEMS Group of Schools, BITS Pilani, Manipal University, Al Ghurair University, RAK Rock, RAK Nor, Steven Rock, Cars, Al Ghazal Transport, Emirates bank, First Gulf Bank, Bank of Baroda, Al Noor Hospital, Al Zahra Hospital and Arabia Healthcare.
Investing in Dubai: A great challenge
There are many benefits of investing in residential or commercial property in Dubai. Dubai is perhaps the most vibrant developing city in the world, a fact recognised by private and institutional investors, as well as the corporate world.
Eight out of the world's largest companies now have major offices in the city, and nearly 400 of the Fortune 500 companies are represented there too.
The Emirates is rich with the proceeds of oil production which has formed the backbone of the economy for many years, but the government has the foresight to know that this will not always be the case and is investing heavily in diversifying its own economy. Indeed it has set targets concerning its GDP (gross domestic produce), and stated that by 2010 only 10% of its GDP will be from the oil industry. Such has been its committment that this target was smashed four years early, in 2006. Growth in Dubai's leisure, tourism and commercial sectors has been so swift that oil represented only 3% of the GDP in 2006.
Some other facts and figures about Dubai:
- 0% income tax, 0% capital gains tax
- 0% corporate tax
- No foreign exchange controls
- No trade barriers or quotas
- Stable, freely convertible currency pegged to the dollar
Some facts and figures about the developers we represent:
- $20bn conglomerate with a diversified range of businesses (including property development)
- Employs over 8000 people across operations in 20 countries
- Its property development business is the Middle East's largest private master developer, and one of UAE's largest private businesses
- 4200 million sq ft of luxury and 9500 customers, across developments in 6 countries
- 16 offices, 68 projects
Some investment and return figures:
Lake Terrace (2003 - now) - 63% annual appreciation, 190% total appreciation
Lake View (2004 - now) - 56% annual appreciation, 111% total appreciation
Lago Vista (2005 - now) - 34.5% annual appreciation
Marina Terrace, launched in 2003, investors have made 228% total appreciation plus 23% rental yields
Waves, launched in 2002, investors have returned 213% appreciation and 19% rental yields
The pros of Residential v's Commercial:
Residential - strong capital growth, good rental yields, taper relief 40% after 10 years
Commercial - stronger capital growth, better rental yields, taper relief 75% after 2 years