CNBC'S Erin Burnett discusses Dubai's future with chairmen of Dubai World and Emaar

In two wide-ranging interviews broadcast from a CNBC studio in Dubai Marina, the two Dubai business leaders discussed the future of the emirate and its place in the world.

During the interview Sultan Ahmed Bin Sulayem spoke of Dubai's long-term overall strategy and what draws people to the emirate: "We look at what is best in the world, and we would like to see that in Dubai. I think why people come to Dubai is confidence, [and] confidence in the market [here]. They can do business here in total harmony, in a safe and business environment similar to any modern society in the world. Dubai has law and order, regulations, transparency and a government that is pro business."

When asked about the impact of the US currency weakening, he added: "The United States continues to be to us and to many people in the world a very important market. It is a very strong market. The dollar and the dirham go together. Europe right now is very expensive [for us]. The United States is not. And you see a lot of investment in the U.S and it is a big market. The credit problem does not affect the US market, it is a small problem specific to certain people in certain sectors."

Mohamed Ali Alabbar said: "We have almost 400 million people around us [in the] Middle East [region]. What's happening in Dubai [is that] it's becoming a financial hub, a tourism hub [and] a business hub [for the region]."

Speaking on the future of the American economy, a part of the world Emaar has invested in, Alabbar commented: "Do not underestimate America. It goes through its ups and downs. It's a great opportunity that we have a setup in America."

The interviews with Sultan Ahmed Bin Sulayem and Mohamed Ali Alabbar were part of a two day visit to Dubai by CNBC and Burnett, where she interviewed CEOs and business leaders in the emirate from different sectors, including finance, real estate, transportation and technology. "Squawk on the Street," provides up-to-the minute market news from major markets around the world, and "Street Signs," offers detailed analysis of everything from mergers and acquisitions to trends in online advertising.