Dubai : financial center
INTRODUCTION : Geography
Dubai is one of the seven emirates of the United Arab Emirates. It is located south of the Persian Gulf coast on the arabian peninsula. The emirate of Dubai shares borders with Abu Dhabi in the south, Sharjah in the northeast, and the Sultanate of Oman in the southeast. Informations:
Dubai has the largest population and the second land territory after Abu Dhabi. As you can see there is around 2,262,000 residents, covering an area of 4,114 km²(square kilometers), with a desity of 408,18/km2 (per square kilometers) I. The Growth of Dubai
In the 1970s oil wealth turned the UAE from a desert kingdom to a modern metropolis, and its rulers took a keen interest in this development. Not for them the idleness and corruption that afflicted some nations blest with oil wealth.
This amazing growth is evident in a look at the period following 1990 in which tremendous economic and demographic changes occurred within Dubai and the UAE. Here are the principal causes of this growth : The oil reserves : In fact Up until recently, oil has been a major contributor to Dubai's success, however it has been more of an economic springboard than a staple resource. This is so primarily to the limited oil reserves Dubai has in relation to other Emirates in the UAE such as Abu Dhabi. The high rate of infrastructural development has helped facilitate and enable Dubai's growth. This is also indicated by the UAE's high volume of imported machinery, equipment and logistics hardware which according to the US Department of State amounted to near 70% of the UAE's imports. Additionally, the rise of numerous airports including Dubai International Airport, The legal and regulatory structure of Dubai is the most international friendly of all the emirates. It changed its property ownership laws in 2004 to allow freehold property ownership