A brief history of Dubai’s economy from the Gulf War to The Islands
The 1990 Gulf War had a huge impact on the city.
Initially, the banks of Dubai suffered a massive withdrawal of funds due to political uncertainty in the region, but as the 90s progressed many businesses, first from Kuwait, during the Gulf War, and later from Bahrain, during the Shia unrest, relocated to Dubai.
Dubai also provided [...]
Buying property in Dubai
In some ways it could be said that at the moment Dubai is one giant building site, wherever you look ambitious mega-projects are in progress.
However, because of the popularity of Dubai, and because it is one of the few places in the UAE where foreigners can actually buy land, property is still relatively expensive.
Whether you [...]
Dubai Formula One theme park delayed due to lack of funding
News emerged today that the Formula One theme park set to open at the end of the year within Dubai Motor City has been postponed due to a lack of funding.
The CEO of developers Union Properties said the unwillingness of banks to lend in the current economic climate had caused work on the $460 million [...]
Roller coaster week for Dubai shares – better times ahead?
Well, all in all a very interesting week on the Dubai stock markets.
Monday’s suggestion by Omar bin Sulaiman, a government official serving on the Dubai crisis committee, that the state might provide further help to the struggling construction and property sectors gave the markets a lift. Following months of predictably steady decline, this news boosted [...]
Burj Dubai reaches maximum height
Already the world’s tallest building, or structure of any description for that matter, the Burj Dubai has now quietly reached its maximum height of 818 metres (826 metres if counted from the lower entrance to the aircraft beacon), according to Skyscrapernews.com.
Unfortunately, with Barack Obama’s inauguration and the global recession, no one seems to have noticed.
Having [...]