Dubai
Property Portfolio and general information
Property Portfolio
General Information
Dubai or Dubayy (in Arabic) is one of the seven emirates that make up the United Arab Emirates (UAE) on the Arabian Peninsula.
Dubai has rapidly become a vital real estate hub in the world and is considered by many as home. Dubai attracts millions of tourists every year with its sunny skies, blue sea and 5-star services and amenities.
Renowned for traditional Arab hospitality, the UAE boasts a stable economy backed by oil industry, state-of-the-art infrastructure, superior living standards and endless opportunities.
Amongst the emirates that form the UAE, Dubai has positioned itself as the "commercial hub of the region". The largest manmade seaport in the world, one of the biggest airports and up-to-the-moment logistical facilities have been instrumental in Dubai's enviable status.
The emirate offers one of the safest and most secure living environments in the world. Coupled with this, world-class educational and healthcare facilities also make Dubai an ideal place to raise a family.
International Air Show, International Motor Show, Powerboat Racing, Desert Classic Golf, Dubai Tennis Open, Dubai Shopping Festival, Dubai World Cup sporting the biggest prize money for horse racing in the world - Dubai always has something to keep itself under the limelight. No wonder, over 300 of the Fortune 500 companies have their corporate presence here.
With a clear vision of its future, Dubai presents great potential for progress and promises an exciting future. Some of the most ambitious projects in the region such as the Palm Islands, the World Project, Dubai Land and the tallest tower in the world are taking shape in Dubai.
Facts and figures
Geography: The second largest of the seven Emirates that make up the United Arab Emirates, Dubai is located on the southern shore of the Arabian Gulf. Dubai city is a bustling metropolis, while outside the city itself the Emirate is sparsely inhabited and characterized by desert vegetation.
Population: Current population approx. 1.67 million, set to increase to 3.5 million by 2010. 80% comprises of Expatriates - Arab, Asians, European, and others.
Climate: Dubai has a sub-tropical, arid climate. Rainfall is infrequent and irregular. Falling mainly in winter, it amounts to some five days a year. Temperatures range from a low of about 50 degrees Fahrenheit to a high 118 degrees. The mean daily maximum is 75 degrees Fahrenheit in January rising to 105 degrees Fahrenheit in July.
Local time: The UAE is four hours ahead of GMT.
Language: The official language is Arabic, Arabic and English are commonly used in business and commerce. Hindi and Urdu are also widely used.
Religions: 96% Muslim, Hindu, Christian, 4% other
Country Dialing Code: 971
Internet Country Code: .ae
Currency: Emirates Dirham (AED)
Exchange Rates: UAE dirhams per US dollar 3.67
Electricity: 220 or 240 volts AC 50HZ
Brief history A trip to Dubai transports you on a journey through time. Although the early history of the area is not very well documented, archeological discoveries suggests that, as long as four thousand years ago, small fishing communities lived along the coast of the Arabian Gulf on the site of modern Dubai. It is also believed that the natural sheltered harbor afforded by the Dubai Creek was a busy port of call on the ancient trade route between Mesopotamia and the Indus Valley. In recent years, archeologists have unearthed hundreds of artifacts, including pottery, weapons and coinage that point to civilized settlements dating back to the third millennium B.C.
These historic finds have been carefully preserved and are now permanently housed in the Archeological Section of Dubai Museum. Modern Dubai, however, traces its origins to the 1830's. At that time, the small fishing village on the Shindagha peninsula at the mouth of the Creek was settled by a branch of the Bani Yas tribe, originally from the Liwa oasis to the south, led by the Maktoum family who still rule the emirates today.
Sightseeing Dubai is really two Cities, Dubai and Deira. Divided by the Creek, they are a paradise for sightseeing and both have their unique characters. You will be amazed at the diversity of architecture and cultures to be found here, ranging from traditional Arab houses to magnificent modern towers of steel and glass.
The Creek is the main artery of Dubai, winding inland from the Gulf for about six miles. On its clear waters you will see traditional teak trading dhows plying their trade across the Gulf, heading as far as India. At night, the waterfront is a hive of activity, as Abras, the local water taxis, crisscrosses the Creek carrying people to their chosen restaurant or attraction for the evening. Others
Money Exchanges - Most currencies can be freely converted in Dubai and you will find money exchange companies all over Dubai. Exchange houses are open from 8:30 to 13:00 and 16:30 to 20:30. One US dollar equals 3.65 UAE Dirhams.
Credit Cards - All major credit cards are accepted in Dubai, including Visa, MasterCard, American Express, and Diners Club etc. Most establishments accept credit cards, though at some of the smaller ones you will get slightly better prices if you pay in cash.
Business Days - All Government offices are closed on Thursday and Friday. Many private sector companies however have their weekend on Friday and Saturday. Shops and supermarkets are open seven days a week, though on Fridays they start business after the afternoon prayers. All Government offices are closed on Thursday and Friday. Many private sector companies however have their weekend on Friday and Saturday. Shops and supermarkets are open seven days a week, though on Fridays they start business after the afternoon prayers.
Banks - Most international banks have branches in Dubai, servicing the usual retail and corporate segments. Transfers can be made easily as exchange controls are virtually non-existent, and the Dirham is freely convertible. Banking hours run from 08:00 to 13:00 Saturday to Wednesday. Some are also open from 16:30 to 18:30. On Thursdays banks operate from 8:00 to 12:00.
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