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20/11/08 | Enticing funding plans offered by Dubai developers to lure investors
Now that funding from banks is so hard to get in Dubai due to the worldwide credit crunch, real estate agents are struggling to make sales and property...Read more
19/11/08 | Citigroup says property in Dubai won’t collapse
According to one report within the industry, generous creations of mortgages and foreigners being allowed to purchase property in Dubai and the GCC is...Read more
18/11/08 | Bargains for buyers of property in Dubai
With the price of property in the UAE falling due to the global credit crunch, a group of speculators that infiltrated the Dubai property market is having...Read more
14/11/08 | Economic crisis smashes Dubai property boom
The Arab boomtown, Dubai, is finally feeling the brunt of the international economic crunch. The price of property in Dubai is tumbling and shares are...Read more
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Dubai

Dubai can refer either to one of the seven emirates that make up the United Arab Emirates (UAE) - or the UAE's premiere city, sometimes called Dubai City.


Dubai

The emirate of Dubai was created when the UAE formed in 1971 - although records show that the some settlements existed there up to 150 years prior to the existence of the UAE.

It is the largest emirate in terms of population, with 1.422 million people within its borders - and the second largest by area, behind Abu Dhabi.

Last year, Dubai's revenues totalled $46 million - with revenues from oil and gas accounting for just under three per cent of that total. The emirate produces 240,000 barrels of oil per day and large amounts of gas, but its reserves are expected to run out in the next 20 years.

Most of Dubai's banking and financial centres are located around the city's port area Jebel Ali, which was constructed in the 1970s and is the world's biggest man-made port. The city is becoming a hub for IT and financial businesses, with the government setting up industry-specific free zones, with relaxed jurisdiction, throughout the city.

Tourism is also a booming industry in the emirate - with the construction of private real estate projects lending the city an impressive skyline.

Along with Abu Dhabi, it is the only emirate to possess a veto over critical matters of national importance in the UAE. Since 1833, the region has been ruled by the Al Maktoum dynasty. The city's current ruler Mohammed bin Rashid Al Maktoum is also the vice president and prime minister of the UAE.

Dubai has an arid subtropical climate, enjoying blue skies and sunshine all year round.


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