Some people thought the completion of the tallest free-standing hotel in the world, the Burj Al Arab, and the 10th tallest commercial tower, the Emirates Towers, would mark the high point of Dubai's development.
But this was not the case. Indeed, the early years of the 21st century have seen Dubai's expansion accelerate again with the creation of a network of free zones covering almost every area of business activity.
Technology has received new focus and impetus from the Dubai Internet City and Dubai Media City. There is even a dedicated free zone for the sale of used cars which has become a big business for Dubai. And at the same time the original Jebel Ali Free Zone has become a huge concentration of business activity and continues to expand.
Now the Dubai International Financial Centre and Dubai Metals and Commodities Centre represent the next challenge for Dubai. The aim is to lever commercial and trading advantage to create new hubs for finance and commodities.
At the same time a massive government-led real estate boom has been unleashed by the decision to allow foreigners to own property in Dubai, and a state-driven expansion of the tourism sector.
Clearly the massive population expansion implied by the further expansion of Dubai requires a great deal of investment in new accommodation. And this is now underway with huge projects from the eye-catching Palm Island to skyscrapers on the man-made Dubai Marina and the villas in the hinterland.
At the same time, the infrastructure of Dubai is growing to meet population growth. For example, $4.2 billion is being spent on the Dubai International Airport, and the road network changes by the day. And the Mall of the Emirates will be the largest shopping mall outside North America. The Burj Dubai will be the tallest building in the world.
If Dubai has got its timing right - and it looks to have got it right - then all this development will happen at a time when the Middle East is undergoing an economic transformation thanks to a high oil price. This will compound the well thought out business planning of the emirate with an economic windfall.
Great cities emerge from time to time in world history, often at the epicenter of trading empires. This seems to be the destiny of Dubai.
Browse
related articles
Why Dubai? Anatomy of a business success story (page 2 of 2)
- United Arab Emirates: Wednesday, September 10 - 2003 at 16:00
Related content
Article Options
Peter J. CooperWednesday, September 10 - 2003 at 16:00 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
This article was updated on Sat Oct 28 2006.
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
