In Dubai, man and money have tamed nature
“…Dubai has gone from being a sleepy backwater to the business hub of the Gulf in a little over three decades. Now new colossal investments in infrastructure, together with ambitious acquisitions overseas and mega projects such as the world's first underwater hotel, augur another era for the city-state…”
Standard Chartered's positive view of Dubai property
“…Now it is true that the bulletin noted: 'The development of the Palms, Dubai Marina, Business Bay and Arabian Ranches, to name just a few, is clearly going to boost supply in the coming few five years in dramatic fashion. While the timing is uncertain, to us this suggests a decline in property prices is just a matter of time…”
Could Dubai become the most important city on earth?
“…Dubai is growing faster than any city on earth, spending mind-boggling sums on a construction programme that is nothing less than dazzling. But what is truly impressive is the scale of its ambition. Could it become the most important place on the planet?...”
50% increase expected at Hometech '06
“…The UAE is continuously developing; it is guaranteed that this growth will be sustained within the future. Property development is huge the three palms are costing in excess of US$11 Billion along with the World project costing over US$5 Billion. This situation is replicated throughout the Gulf area; examples include Bahrain's Durrat Island and Two Seas projects, and the Pearl in Qatar. Tourism is another notable area, where growth is immense. There are plans to build a further 200 hotels throughout the Gulf area. Dubai International Airport handles over 20 million passengers, where as Abu Dhabi over 5 million…”
“…There are some 5,000 construction projects underway in this oil-rich Middle East hotspot, one of seven emirates that make up the UAE. And Ski Dubai — the first indoor ski resort in the Middle East — is just the latest to throw open its doors and welcome the world along for the ride…”
“…The year 2006 looks set to be the year hotel managers in Dubai have been dreaming of. With only a handful of new properties set to open, and occupancy figures looking set to continue to climb, it could easily be said that running a five-star hotel in the city is tantamount to having a licence to print money…”
Dubai's Growth Hinges on State-Run Cos.
”… There is no secret to the magnitude of Dubai's transformation. The sheikdom's dozens of ultra-luxurious resorts _ most sitting on white sandy Gulf beaches _ lured in 5.6 million tourists in 2004. State-connected firms are building the world's tallest skyscraper amid forests of shorefront high-rises and reclaiming islands in the Gulf in the shapes of palm trees. And in Saudi Arabia, a Dubai developer has just broken ground on a $26.7 billion project to build an entire city on the shores of the Red Sea…”