Press Release

Apr 02, 2024

The Role of Entrepreneurship in Driving Economic Growth in U.A.E

In the U.A.E., the spirit of entrepreneurship is alive and well; it’s a driving force pushing our economy into the future. My path to founding Sankari and embarking on our first major project in Dubai has been inspired by a lifetime of lessons from my father’s entrepreneurial journey here in the U.A.E.

Sankari may be new on the scene, with our inaugural venture still taking shape, but a rich legacy fuels our ambition. For over 40 years, my father carved out his path in the U.A.E., adapting, growing, and innovating. This legacy doesn’t just shape our family’s story; it mirrors the larger narrative of the U.A.E.’s economic resilience and vision.

The essence of entrepreneurship goes beyond launching businesses. It’s about solving problems, generating jobs, and enhancing our well-being. In the U.A.E., our unique blend of visionary leadership, strategic economic policies, and a global mindset creates the perfect ecosystem for entrepreneurs to thrive.

Our leadership understands this. By implementing forward-thinking policies and fostering a regulatory environment that encourages risk-taking, the U.A.E. has become a global hub for entrepreneurs. Initiatives like the Dubai Future Accelerators program exemplify this approach, connecting innovative companies with government entities to co-create solutions for global and local challenges. This strategic vision has not only positioned the U.A.E. as a beacon for entrepreneurial talent it has also ensured that ventures like Sankari contribute to a broader agenda of economic diversification. 

However, the true essence of entrepreneurship transcends economic indicators; it embodies a mindset of resilience, adaptability, and an insatiable appetite for learning. These attributes are the bedrock of the U.A.E.’s meteoric rise on the global stage. They are woven into the fabric of our national identity, reflected in how we embrace technological advancements and pivot in the face of global economic shifts. Programs like the Mohammed Bin Rashid Innovation Fund and the Khalifa Fund for Enterprise Development are tangible manifestations of this ethos, providing financial and logistical support to innovators and entrepreneurs. This commitment to nurturing an entrepreneurial mindset ensures that the U.A.E. remains agile, forward-thinking, and ready to capitalize on new opportunities. 

Entrepreneurship is more than just a segment of the U.A.E.’s economy; it is the pulse that drives innovation, job creation, and wealth generation across the nation. This dynamic force stimulates economic growth in several key ways:

  1. Innovation and Competitive Edge: Entrepreneurs introduce new products, services, and technologies that challenge the status quo, fostering a culture of innovation. This relentless pursuit of innovation keeps the U.A.E. competitive globally and attracts foreign investment and talent, contributing to a vibrant, knowledge-based economy.
  2. Job Creation: Small and medium-sized enterprises (S.M.E.s) and startups, which form the backbone of entrepreneurship, are significant job creators. By offering new employment opportunities, they play a crucial role in reducing unemployment rates and driving economic diversification, which is critical for the U.A.E.’s vision of a post-oil economy.
  3. Economic Diversification: The U.A.E.’s strategic push towards entrepreneurship is a deliberate effort to diversify its economy beyond oil. By nurturing sectors like technology, renewable energy, and real estate through entrepreneurial ventures, the country reduces its dependency on traditional industries, ensuring long-term economic sustainability.
  4. International Trade and Expansion: Entrepreneurs in the U.A.E. are not just focused locally; many aim for regional and global markets. This ambition enhances the country’s trade relationships, boosts exports, and positions the U.A.E. as a pivotal player in international commerce.
  5. Cultivating a Resilient Economy: Entrepreneurs’ adaptability and resilience ensure that the U.A.E.’s economy can better withstand global economic fluctuations. Their ability to pivot and innovate in response to market demands means the national economy remains robust and dynamic, even in challenging times.

As I lead Sankari, I’m guided by the resilience and adaptability my father demonstrated throughout his entrepreneurial journey in the U.A.E. These principles are our compass as we navigate the complexities of the real estate market, aiming to contribute not only to the U.A.E.’s skyline but also to its economic and social fabric.