The United Arab Emirates (UAE), established in 1971, is a federation of seven emirates: Abu Dhabi, Ajman, Fujeirah, Sharjah, Dubai, Ra's Al-Khaimah, and Umm al-Quwain. The UAE has been making headway over the last three decades, driven by an oil-rich economy. In recent years, the country has flourished due to extraordinary economic growth, high per capita income, and strong social development.
According to the 2009 Human Development Index Report, UAE has occupied the 35th position among the ‘very high human development’ nations of the world, which itself is a tremendous achievement. Due to its economic growth and relatively open immigration policies, the nation has attracted many people from all over the world.
Source: http://hdr.undp.org/en/statistics/
In a very short span of time, the UAE has rapidly urbanized because of its economically strong cities like Dubai. Dubai is UAE’s most prominent city, which is believed as UAE’s backbone. Today, Dubai features prominently on the global map of promising places, and some experts considered the city to be among the “world cities”.
Real Estate boom in the UAE and Dubai
Oil being the significant reason of giving the UAE a strong economy, however, major boom in construction industry in the last few years has also massively contributed to the economy of the nation. Investments into the real estate sector in Dubai has crossed the AED 158 billion mark in 2008 based on the number of sales, leasing, and mortgage transactions registered in Dubai, according to REIDIN.com, the world’s first and leading global online information services provider. It is also believed that this amount is expected to increase in the coming years, which will make the UAE “Pearl of the East”.
http://www.dubaicityguide.com/site/news/news-details.asp?newsid=21477&newstype=Local%20News
Construction on a large scale has turned Dubai into one of the fastest-growing cities in the world.
Gold Market
‘As long as the capitalist system lasts...vote for Gold’ - Shakespeare’s ‘Merchant of Venice’
Over the last decade, the Gold jewelry industry in Dubai has touched skies, motivated by high economic growth, rising population, increasing flow of tourists, improved per capita income, and initiatives of industry associations. According to the World Gold Council (WGC), UAE gold jewellery sales increased by 17% in 2008 which crossed Dhs13.7bn compared to Dhs11.4bn in 2007. http://www.ameinfo.com/188658.html
Shopper’s haven – DUBAI!
Dubai is definitely the ‘shopping capital’ of the UAE, which has numerous large malls and duty-free shops. People from all over the world gather here for the city’s popular “Dubai Shopping Festival” and go back with full bags yet unfulfilled desire. With world’s finest hotels, resorts, the very famous seven-star Burj Al Arab in Dubai, fantastic beaches and Dubai Mall whose expanse has to be seen to be believed. It includes a staggering 1,200 retail outlets, ensuring that you find everything you could possibly want.
This mall is not just a shopaholic's paradise -- the entertainment on offer is also interesting. It includes the fantastic Dubai Aquarium, one of the world's largest indoor aquariums that house an incredible 33,000 inhabitants representing 85 different species of aquatic animals and the water-sports facilities along with world-famous safaris to experience the country's deserts; all these together make Dubai a living bliss on earth. Now, the driverless, fully automated Dubai Metro is among the most sophisticated in the world. A first for the Middle East, it is a massive project with a budget of Dhs 28bn - the latest talk of the town, you have ample reasons to visit Dubai.
http://www.godubai.com/citylife/ls2.asp?article_id=2009/GTY%23548