Louis Wiese
Property Struisbaai, Agulhas, Cape Town & Dubai Real Estate Professionals

Dubai Overview


Dubai is one of the seven emirates of United Arab Emirates (UAE). UAE was founded on December 2, 1971. UAE is situated on the eastern side of the Arabian Peninsula, bordering Saudi Arabia to the west and south and the Sultanate of Oman to the east.

Today Dubai is one of the fastest growing economies with growth coming from tourism, construction, real estate, trading and transport. Dubai’s move to diversify the oil dependent economy to other sectors has paid off with a phenomenal growth in other sectors.

 Dubai has become a sought after tourist destination where one can shop for the best of brands as well as have an Arabian experience. Dubai is also the home of the tallest free standing structure in the world, Burj Dubai that would be a major tourist attraction in years to come.

The real estate and construction is witnessing a phenomenal growth with construction of iconic structures such as the Palm, the Burj Dubai, etc. There are a record number of constructions taking place in Dubai to cater to the insatiable demand for real estate from people all around the world. The real estate sector has provided one of the highest returns to investors and is expected to provide a reasonable return in the future due to high rentals prevailing in Dubai.

Dubai seeks to position itself as a trading hub for the entire region by creating the infrastructure in term of ports, warehouses, etc. There are a number of companies that have set up shop in Dubai to cater to the entire Middle East region as well as parts of Africa, Asia and erstwhile Soviet Union.

Dubai is also seen as a major transportation hub with a number of airlines setting shop. Emirates airlines has one placed of the largest orders for aircrafts. Dubai is promoting itself as a major transhipment hub wherein passengers would take connecting flights to various destinations.


Climate


Dubai has a varied climate ranging from high temperatures in the summer (April to September) and pleasant weather during winter (October to March). During summer the temperature goes to a high of 48°C (118°F) whereas in winter it goes to a low of 10°C (50°F).

The climate is usually dry with occasional rains during the winter. The skies are mostly clear with occasional clouds. During winter there is also the sporadic sandstorm that creates a mess. The humidity ranges from 50-60% and can be unpleasant combined with the high temperatures.

Mornings can be foggy but it clears up during the day. Evenings are pleasant and most convenient time to move out.

 


About the United Arab Emirates


The United Arab Emirates (UAE) (Arabic: الإمارات العربية المتحدة, transliteration: Al-Imārāt al-‘Arabīyah al-Muttaḥidah) is a Middle Eastern federation of seven states situated in the southeast of the Arabian Peninsula in Southwest Asia on the Persian Gulf, bordering Oman and Saudi Arabia. The seven states, termed emirates, are Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain.

The UAE, rich in oil and natural gas, has become highly prosperous after gaining foreign direct investment funding in the 1970s. The country has a relatively high Human Development Index for the Asian continent and ranked 39th globally.

Before 1971, the UAE were known as the Trucial States or Trucial Oman, in reference to a nineteenth-century truce between Britain and several Arab Sheikhs. The name Pirate Coast has also been used in reference to the area's emirates in the 18th to early 20th century.

Economy

The United Arab Emirates has a highly industrialized economy that makes the country one of the most developed in the world, based on various socioeconomic indicators such as GDP per capita, energy consumption per capita, and the Human Development Index.

The GDP per capita is currently the 5th in the world and 3rd in the Middle East after Qatar and Kuwait as measured by the CIA World Factbook, or the 17th in the world as measured by the International Monetary Fund; while at $168 billion in 2006, with a small population of 4 million, the GDP of the UAE ranks second in the CCASG (after Saudi Arabia), third in the Middle East — North Africa (MENA) region (after Saudi Arabia and Iran), and 38th in the world (ahead of Malaysia).[10]

There are various deviating estimates regarding the actual growth rate of the nation’s GDP. However, all available statistics indicate that the UAE currently has one of the fastest growing economies in the world. According to a recent report by the Ministry of Finance and Industry, real GDP rose by 35 percent in 2006 to $175 billion, compared with $130 billion in 2005. These figures would suggest that the UAE had the fastest growing real GDP in the world, between 2005 and 2006.

 History

The United Arab Emirates was formed from tribally organized Arabian Peninsula sheikhdoms along the southern coast of the Persian Gulf and the northwestern coast of the Gulf of Oman. The area became Islamic in the 7th century.

Later, portions of the nation came under the direct influence of the Ottoman Empire during the 16th century. Thereafter the region was known as the Pirate Coast, as raiders based there harassed the shipping industry, despite both European and Arab navies patrolling the area from the 17th century into the 19th century. British expeditions to protect the Indian trade from raiders at Ras al-Khaimah led to campaigns against that headquarters and other harbors along the coast in 1819. The next year, a peace treaty was signed to which all the sheikhs of the coast adhered. Raids continued intermittently until 1835, when the sheikhs agreed not to engage in hostilities at sea. In 1853, they signed a treaty with the United Kingdom, under which the sheikhs (the "Trucial Sheikhdoms") agreed to a "perpetual maritime truce." It was enforced by the United Kingdom, and disputes among sheikhs were referred to the British for settlement.

Primarily in reaction to the ambitions of other European countries, the United Kingdom and the Trucial Sheikhdoms established closer bonds in an 1892 treaty, similar to treaties entered into by the UK with other Persian Gulf principalities. The sheikhs agreed not to dispose of any territory except to the United Kingdom and not to enter into relationships with any foreign government other than the United Kingdom without its consent. In return, the British promised to protect the Trucial Coast from all aggression by sea and to help in case of land attack.

In 1955, the United Kingdom sided with Abu Dhabi in the latter's dispute with Oman over the Buraimi Oasis and other territory to the south. A 1974 agreement between Abu Dhabi and Saudi Arabia would have settled the Abu Dhabi-Saudi border dispute; however, the agreement has yet to be ratified by the UAE Government and is not recognized by the Saudi Government. The border with Oman also remains officially unsettled, but the two governments agreed to delineate the border in May 1999.

In the early 1960s Dubai was ahead of all the other states even though oil was not yet discovered in its territories. Abu Dhabi was behind until His Highness Shaikh Zayed bin Sultan Al Nahyan became ruler of Abu Dhabi in 1967.[citation needed]

The British had earlier started a development office that helped in some small developments in the Emirates. The sheikhs of the Emirates decided then to form a council to coordinate matters between them and took over the development office. They formed the Trucial States Council, [2] and appointed Adi Bitar, Sheikh Rashid bin Saeed Al Maktoum's Legal Advisor, as Secretary General and Legal Advisor to the Council. The Council was terminated once the United Arab Emirates was formed.

In 1968, the UK announced its decision, reaffirmed in March 1971, to end the treaty relationships with the seven Trucial Sheikhdoms which had been, together with Bahrain and Qatar, under British protection. The nine attempted to form a union of Arab Emirates, but by mid-1971 they were unable to agree on terms of union, even though the termination date of the British treaty relationship was the end of 1971.

Bahrain became independent in August and Qatar in September 1971. When the British-Trucial Shaikhdoms treaty expired on December 1, 1971, they became fully independent.

The Rulers of Abu Dhabi and Dubai decided to form a union between their two Emirates independently, prepare a constitution, then call the Rulers of the other five emirates to a meeting and offer them to join. It was also agreed between both of them that Adi Bitar write the constitution and have it ready by 2 December 1971.

On December 2, 1971, at the Dubai Guesthouse Palace four other Emirates agreed to join and enter into a union of six Emirates called the United Arab Emirates. Ras al-Khaimah joined later, in early 1972.

The UAE sent forces into Kuwait during the 1990–91 Gulf War.

On November 2, 2004, the UAE’s first president, Sheikh Zayed bin Sultan Al Nahyan, died. His eldest son, Khalifa bin Zayed Al Nahyan, succeeded him as ruler of Abu Dhabi. In accordance with the Constitution, the UAE’s Supreme Council of Rulers elected Khalifa as president. Mohammad bin Zayed Al Nahyan succeeded Khalifa as Crown Prince of Abu Dhabi.

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