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City
Profile
Dubai,
the second largest Emirate of the seven
in the UAE, is truly a phenomenon.
With its oil production having fallen behind
neighboring Abu Dhabi, Dubai has successfully
replaced that source of wealth with a burgeoning
service-based economy that is based on tourism,
construction, telecommunications, media,
and financial services.
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Country
Rankings
United Arab Emirates
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| Ease
of Doing Business World Bank '05 |
69
of 155
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Med*
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Corruption
Perception
Transparency International '05 |
30
of 159
|
High
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Growth
Competitiveness
World Economic Forum '05 |
18
of 117
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High
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| National
Literacy |
77.8%
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Med
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GDP
Growth
(2004 est.) |
5.7%
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Med
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Dubai
has a high international profile and large expatriate
population attracted by the relatively liberal
social norms and multi-glot population in the
Emirate. Of all the Emirates, Dubai is firmly
established as the most dynamic and innovative
economy within the federation, as well as the
most high profile.
Given
the current construction boom, some market watchers
fear signs of a bubble are emerging. Despite
such fears two new mega projects have been announced
recently. Emaar Properties has revealed
a strong response from international, regional
and local businesses from across the corporate
spectrum to its recently launched Business Hub
which is to be completed in 2007 and will be housed
within the Burj Dubai Development. The Business
Hub is ideally positioned close to the Dubai International
Financial Centre (DIFC) and the World Trade Centre
to meet the needs of medium to large businesses.
Al
Ahli Group has stepped forward to develop another
multi-billion dirham mega project -- Dubai Outlet
City -- at the massive Dubailand. Dubai
Outlet City, the latest in the unique line-up
of iconic developments from Dubailand, will be
a regional phenomenon. It builds on Dubai's global
reputation as the region's trading and retail
hub by creating a first-off and innovative retail
environment at Dubailand.
The
Dubai International Financial Exchange (DIFX),
housed in the financial free zone called the Dubai
International Financial Centre, started trading
recently with the aim to offer a liquid, well-regulated
market with an international presence. Dubai-based
mobile phone company Investcom is expected to
become the first firm to list on the exchange,
and DIFX officials said they expect about 15 companies
to be trading by the end of 2006.
Source:
Population:
2004 or latest: http://www.citypopulation.de;
GDP Data: 2004 CIA Fact Book estimate; Literacy:
UN estimate
*
Country Ranking Codes: A relative color coding
of where the country falls compared to the 20
other Muslim countries represented in this list.
Hgh/Green=Top 3rd; Med/Yellow=Mid 3rd; Low/Orange=Bottom
rd
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