What comes to mind when someone mentions Dubai – the world’s tallest building Burj Khalifa, a major tourist hotspot, or a business hub? Well, the fact of the matter is Dubai is all three and much more. With humble beginnings, as is the case of most of the cities in the oil-rich Middle East, the Dubai of today is a far-cry from what it was a few decades ago. Currently, this city is one of the most visited tourist hotspots in the world. It is a marvel of urban planning, a fusion of the modern world and cultural diversity.
Dubai real estate is highly coveted globally and includes some of the most luxurious properties in the world today; this city is a success that many neighbouring countries envy and try to replicate. In this detailed article, we will look at the rich history of Dubai, where it stands today, the good and the bad about living in Dubai and why all roads lead here.
History of Dubai
Although the Bani Yas tribe set up the foundation for modern Dubai in the 18th century; however, its history goes much farther back than that. The region around Dubai was initially set up as a fishing and pearling centre, and geographer Abu Abdullah al-Bakri mentioned it in his geography book in 1095. And again by a pearl merchant from Venice, Gasparo Balbi, who visited the area in 1580.
Early Dubai
Historically, the city was built on a natural inlet called Dubai Creek. Before the advent of the oil industry, Dubai had a small, remote economy. In the early 20th century, oil was discovered in the region; the wealth from the Gulf became a crucial factor in bringing success to the emirate. That led to rapid economic growth in all sectors, including the Dubai real estate sector; oil provided the revenue and allowed the government to construct public infrastructure.
Eventually, the city expanded to become a vital re-export business port in the Persian Gulf. Today, it is one of the Middle East’s most prosperous and modern emirates. There are several interesting facts about Dubai – the city of superlatives that you must know, if you are planning to move there, especially.
The Emirates
The Al Maktoum dynasty rules the area and has played a significant role in the city’s development. Expatriates were moved to the city for tax-free salaries, and many of them left their countries for relatively stable politics. Over the years, the influx of foreign workers has boosted the city’s population, added to its cultural diversity, and laid the foundation for modern Dubai.
Dubai – A city of diverse cultures
The city of Dubai is the capital of the United Arab Emirates. Dubai is diverse, with many ethnic groups living in the emirate. Islam is the religion of the majority. However, Christianity, Hinduism, and Sikhs also have a strong presence, given more than 80% of Dubai’s population is expatriate. Dubai’s permanent resident population increased dramatically from just over 2.4 million to 3.137 million in 2018. Since, the UAE has announced new entry and residency rules, we observed a huge influx of foreigners moving here.
Although most of the city is built on Arab-Islamic architectural designs, where Large villas are found in the suburbs, and the streets are lined with date palm trees, the urban skyline and towering skyscrapers are a testament to the fusion of the East and West.
Modern Dubai – A major sea port and coastal city
The Emirate of Dubai, one of seven emirates of the United Arab Emirates, is a major seaport and coastal city. It is located on the southeast coast of the Persian Gulf. Modern Dubai is a coastal and business hub that combines a cosmopolitan atmosphere with traditional Arab culture. The Emirates has a diverse economy, but trade remains a key component. As a result, Dubai’s ports play an essential role in its economic growth. In addition, the ports provide a vital link to the other emirates supporting UAE’s thriving logistics industry.
Jebel Ali
Jebel Ali Port is one of the most advanced ports in the region. Its state-of-the-art facilities make it the largest container port between Singapore and Rotterdam. This port provides access to 1.5 billion people. The port also provides a gateway between the western hemisphere and the Far East. Among its services, it processes more than one million TEUs of cargo every year.
Mina Rashid
Mina Rashid Port is a man-made port in the Emirate of Dubai. It has the world’s largest covered cruise facility and serves over 500,000 passengers annually.
Dubai – A major financial centre and hub
The financial centre and hub of the MEASA region, Dubai has become one of the world’s leading centres for business, investment, finance, and innovation. It has been benchmarked against seven global cities, including New York, London, and Singapore.
Business driven leadership
Dubai’s leadership is helping it to grow its economy and achieve its vision of becoming the world’s top global financial hub. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the deputy ruler of Dubai, supports the DIFC (Dubai International Financial Centre) with the ambition to be among the top three in the world. Over the past decade, the city’s finance sector has grown 55.6%, and the emirate’s economy has increased by nearly three percent yearly.
The DIFC
DIFC is one of the world’s most advanced business hubs and a leading financial center for the Middle East, Africa, and South Asia (MEASA). It comprises 72 countries and territories covering a population of around 3 billion people with approximate GDP of Eight trillion US dollars. It is still evolving and working its way to create a business environment that will rival the best in the world. As part of its strategy, the centre runs an academy scheme for more than five thousand graduates enrolled in finance courses.
It has built a robust financial services ecosystem, including banks, fund managers, and law firms. These businesses have taken advantage of the incentives offered by the centre. This all culminates in providing many professional development opportunities for the best business minds in the world.
Dubai’s luxury real estate
It’s no surprise that Dubai real estate is one of the most coveted globally; it boasts some of the most extravagant man-made structures and islands. From the Burj Al Arab, the world’s first seven-star hotel, to the Burj Khalifa and then there are the three palm-shaped islands known as Palm Jumeirah, Palm Deira, and Palm Jebel Ali. Besides being home to some of the best hotels, water resorts, and beach clubs, it offers some of the best luxury properties in Dubai. Dubai real estate touched AED30 billion mark this November, indicating the ever-increasing demand for properties here.
Dubai’s real estate performance
As per estate agents in Dubai, the luxury real estate segment is gaining momentum; during the first half of 2019, property sales surpassed the previous year’s figures. This trend is expected to continue. In February, the luxury sector saw a record number of property transactions, with US$4.4 million plus in sales. These are the highest levels in over a decade. Robust demand conduces the launch of several luxury projects in Dubai in 2022 alone.
The market is also receiving foreign interest. Luxury homes and villas are proving popular with wealthy buyers. There are several reasons for this. One is Dubai’s central location and the ease of getting around the city. Another reason is the high standard of infrastructure and the cosmopolitan atmosphere.
Government-backed momentum
The UAE government has made efforts to provide a stable economic environment for its citizens. It has also implemented a ten-year golden visa program for skilled workers. Such programmers and other business-easy initiatives have driven an influx of high-net-worth individuals to Dubai; these include people from Gulf Cooperation Council (GCC) countries and other regions of the world.
Dubai’s urban skyline is recognised globally
The UAE has a long and storied history that dates back to the glory days of the desert forts, the fabled desert sands, and the first modern-day Sultans of Dubai. The country remains an attractive and desirable place to do business, as seen from the numerous skyscraper towers, enclaves, and other properties of Dubai, creating a spectacular modern-day skyline.
The Burj Khalifa aside, there are currently some 22 impressive skyscrapers over 300 meters tall adorning the city and one of the many ways Dubai has changed. It is a mix of hotels, apartment buildings, and offices. In 1999, the first 150-meter structure (Burj Al Arab) was built, and today there are over 185 buildings that are 150 metres tall, complementing the Dubai skyline. Some of the famous ones include:
- Elite Residence
- Emirates Towers
- Gevora Hotel
- Infinity Tower
- Marina 101
- Princess Towers
- The Pentominium
Modern-day transport options in Dubai
From supercars to luxury ones, Dubai is infamous for its exotic vehicles adorning the various roads and streets of the city. However, getting around the city is easy with many modern-day transport options; it offers public transport for those who need it.
Dubai Metro
The cheapest form of transport is the Dubai Metro. The metro is a modern, fully automated rail system. Its two lines have trains running every two to three minutes. They run throughout most of the city’s most popular tourist areas.
Taxis
Another way to get around is to take a taxi if you prefer a private vehicle. Taxi cabs are generally less expensive than other forms of transportation; however, they can be costly during peak hours. They are still one of the most comfortable ways to get around the city. Depending on the time of day, they can accommodate up to four passengers. Taxis are readily available at many metro stations. Some drivers accept credit cards, and you can pay with Apple Pay or Master.
The Dhow Boat
You may also choose to go with a traditional dhow boat; this is a unique way to see the city.
The Tram
Dubai also has a tram. These trams are wheelchair-accessible and are one of the few forms of public transport in the city. The Dubai Tram runs on a specially constructed street-level track.
Dubai Buses
There are several buses in the city. RTA buses are air-conditioned and cover many areas extensively. Generally, buses make large loops and do not have dedicated bus lanes. Nevertheless, some of the bus routes connect to the metro.
Dubai – A global tourist attraction
Dubai is a city that has something for everyone. From traditional pedestrian markets to world-class buildings, there is a wide variety of things to do. In addition to its many modern and contemporary attractions, Dubai boasts a rich cultural heritage. Here are some must-visit places and activities.
Dubai Museum
You can visit the Dubai Museum, which features an interactive diorama of old Dubai. It also features exhibits of traditional Arabic houses and weaponry.
Old Dubai
Another must-visit destination is the Al Fahidi Historical District. Here you will find quaint cafes and boutique hotels that offer a glimpse of old Dubai.
Shopping
The Bur Dubai Souk Market is a bustling waterfront labyrinth of narrow covered lanes. It is a popular tourist destination for people looking for bargains. For a more sophisticated shopping experience, visit the Dubai Mall.
The Garden Glow
One of the most intriguing sights in Dubai is the Dubai Garden Glow. This is a part-theme park, part-glow-in-the-dark wonderland. While you are there, make sure to check out the Miracle Garden. Located on a 72,000-square-meter plot, the garden is an oasis of colorful plants and flowers.
Indoor Scuba Diving
You’re in luck if you want to go scuba diving without the risks associated with the open ocean. Dubai boasts the deepest swimming pool in the world. Deep Dive Dubai has a 60-metre deep pool where you can discover and explore many indoor locales as you dive deeper.
Desert Safari
Depending on the package and tour you opt for, you can have an exciting time dune bashing, enjoy a camel ride, watch exotic belly dances and a Tanourah show and have a delicious BBQ dinner.
Dubai – Where blockbuster movies are filmed
The UAE is home to many big-budget international blockbusters. Hollywood stars have shot blockbusters in Dubai, from the Star Wars trilogy to the Fast and Furious series. Dubai’s unique location at the juncture of east and west has been used by filmmakers to capture dazzling scenes. In addition, the city boasts breathtaking architecture and pristine deserts. Several major movie productions have taken place, including:
- The big-budget international blockbuster Mission: Impossible – Ghost Protocol (2011) was shot in Dubai. This movie stars Tom Cruise. He scaled the Burj Khalifa skyscraper wall for 23 days to film a stunt.
- Fast and Furious 7 (2015) – Starring Vin Diesel, The Rock Dwayne Johnson, MMA star Rhonda Rousey and many others.
- Independence Day – Resurgence (2016) – the second instalmentof the 1996 science fiction flick Independence Day was shot in Dubai.
Other blockbuster movies from Hollywood and elsewhere that have been filmed in Dubai include:
- Syriana (2005),
- Star Wars: The Force Awakens (2015),
- Wall Street – Money Never Sleeps (2010),
- The Misfits (2021),
- Happy New Year (2014)
- Pathaan (2023) and many more.
Having mentioned all that we have, we hope we were able to provide you with a unique insight into the history of Dubai and the region. From humble beginnings as a fish and pearl trading port to an international hub boasting one of the most easy-to-work-with business models, Dubai is a marvel of modern times and a testament to urban planning done right. The tremendous growth from an ordinary city in the Middle East to an International tourist destination offering the most coveted real estate has been in a record 15 years, a tremendous achievement in itself. Indeed, all roads do lead to Dubai.
