Dubai's money resources


Historical background

The easiest way to understand, why Dubai, and a United Arab Emirates have that amount of money resources, to look back a little bit, what happened in the earlier 19th century.

1966, which was the year, when they discover the oil, in Dubai. After that became a newly independent country of Qatar and Dubai. In the mean time they created a new currency, the Riyal. After the depreciation of the Persian Gulf rupee which had been issued by the Government of India. It enabled Dubai to rapidly expand and grow.

1969 the first shipment of oil happened, and of course the future of Dubai was planted, the state was secured, and later on the policy of the UAE was cemented.

1971 Britain left, causing Dubai and Abu-Dhabi, with five other emirates, and later on form the United Arab Emirates. Dubai and Abu-Dhabi could control the country successful; enable even greater development as seen today.

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In 1973, Dubai joined the other emirates, in introducing the UAE dirham, the uniform currency of the UAE. Dubai & Abu Dhabi controlling in the UAE. To enable this, Abu Dhabi and Dubai are the only emirate's who have veto power over matters of national importance, whereas the other emirate's have a vote on the matter.

1979 Jebel Ali Free Zone was introduced, providing companies with unrestricted import of labor, and export of capital, which helped to jumpstart the influx of global companies seen today.

1990 Persian Gulf War had huge effect on the city. Depositors withdrew a lot of money from Dubai banks, because he political conditions in the region. Later in the 1990s many foreign trading communities - first from Kuwait, during the Persian Gulf War, and later from Bahrain, during the Shia unrest - moved their businesses to Dubai. Dubai provided refueling bases to allied forces at the Jebel Ali free zone during the Persian Gulf War, and again, during the 2003 Invasion of Iraq. Large increases in oil prices after the Persian Gulf War encouraged Dubai to continue to focus on free trade and tourism. The success of the oil venture fueled the rapid development of the area, and through the insight of the late ruler, provided for the general welfare of the inhabitants. The price of oil skyrocketed after the Persian Gulf War, making Dubai's government rich from the profits.

Dubai worked to build up its infrastructure of transportation facilities, schools, hospitals, tourist services and other amenities of an advanced society. Dubai continues to expand and develop today.

View of Dubai from the 70's till today

The success of the Jebel Ali free zone allowed the city to replicate its model to develop clusters of new free zones, including Dubai Internet City, Dubai Media City and Dubai Maritime City. The construction of Burj Al Arab, the world's tallest freestanding hotel, as well as the creation of new residential developments, was used to market Dubai, for purposes of tourism.

Since 2002, the city has seen an increase in private real estate investment in recreating Dubai's skyline, with such projects as The Palm Islands and Burj Dubai.


UAE indicating Dubai'ssurrounded with, Abu Dhabi, Sharjah and Oman, the Western Al Hajar mountain belt,of HattaDubai is situated on the Persian Gulf coast of the United Arab Emirates. The emirate of Dubai shares borders with Abu Dhabi in the south, Sharjah in the northeast, and the Sultanate of Oman in the southeast. Dubai lies directly within the Arabian Desert. However, the topography of Dubai is significantly different from that of the southern portion of the UAE in that much of Dubai's landscape is highlighted by sandy desert patterns. The flat sandy desert gives way to the Western Hajar Mountains, which run alongside Dubai's border with Oman at Hatta. The Western Hajar chain has an arid, jagged and shattered landscape, whose mountains rise to about 1,300 meters in some places.

Dubai has no natural river bodies or oases; however, Dubai does have a natural inlet, Dubai Creek, which has been dredged to make it deep enough for large vessels to pass through. Dubai also has multiple gorges and waterholes which dot the base of the Western Al Hajar mountains

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Seismically, Dubai is in a very stable zone - the nearest seismic fault line, the Zargos Fault, is 120 km from the UAE and is unlikely to have any seismic impact on Dubai. Experts also predict that the possibility of a tsunami in the region is also minimal because the Persian Gulf waters are not deep enough to trigger a tsunami.

Dubai climate is very hot and humid, with many months, recording temperatures of over 40°C. Rainwater is generally light, only 100 mm per year. The humidity in Dubai is about 60%.


Dubai's gross domestic product was US$46,5 billion in of 2006. Dubai's economy based of the oil industry revenues from oil and natural gas currently relation is less than 6% of the emirate's income. Estimated 240,000 barrels of oil per day, that Dubai produces a significant amount of gas in the coastal areas too.

The UAE emirate's share 2% from gas revenues. Dubai oil stocks dexpected to be exhausted in 20 years.

Historically Dubai from two parts, Dubai Creek, Deira become important port in the western manufacturers. Most banks and financial center has developed in the central areas of the port. Dubai miles significance can be measured as the trade route to the 1970-1980's. Dubai city of gold in terms of free trade was, until the 1990s, import restrictions have become worthy of routes, the hub.

Dubai is one of the most important tourist destination and port, Jebel Ali, built in the 1970s, the largest man-made port in the world. Dubai is also a growing center for service industries such as Information Technology. The finances and set up a new Dubai International Financial Center (DIFC). The Government has established the industry-specific free zones throughout the city. Dubai Internet City, Dubai Media City as part of a combined Tecom (Dubai, electronic commerce and media Free Zone Authority) an enclave whose members such as IT companies such as EMC Corporation, Oracle Corporation, Microsoft, IBM, organizations and media such as MBC, CNN, Reuters and AP.

The Dubai Financial Market (DFM) was established in March 2000 as a secondary market for trading securities and bonds, both local and foreign. As of Q4 2006, its trading volume stood at about 400 billion shares worth US$ 95 billion. The DFM had a market capitalization of about US$ 87 billion.

Later the government of the decision was not only dependent upon the oil trade, but the target should be set for tourist services. The economy, which is one of the service and tourism has a higher property value, which is the appreciation of property 2004-2006.

Large-scale real estate projects were highlighted, such as some of the highest skyscrapers and largest projects in the world, such as the Emirates Towers, the Palm Islands and the world's tallest and most expensive, hotel the Burj Al Arab.

Dubai Government has reached a decision that the oil trade, in addition to tourism values, and emphasis on spectacle, could make a profit is big. 2004 near a major construction began in prosperity, and then Dubai has become one of the world's fastest growing cities. The prosperity of many so-called megaproject was created, such as Palm Island, The World, Dubai Marina, the Burj Khalifa Complex, Dubai Waterfront, Business Bay, Dubailand, Jumeirah Village.

The Palm Jumeirah, for example, the world's largest artificial island, which was set up specifically for this purpose, an artificial manner designed the base of the islands.

An ultra-modern architectural style, wanted to create the city of Dubai. Here you will find some of the skyscrapers, as Emirates Towers, Burj al-Arab hotel, in the Persian Gulf, the world's tallest and most expensive hotel.

Sheikh Khalifa is the world's tallest skyscraper built. The final height of 828 m, and includes all 160 floors. Dubai Mall is the world's largest shopping center built, int he neighbourhoud Sheikh Khalifa. Accreditation and already mention the Gold Souk, which is more than 300 of shops. Dubai new central business district, known as Business Bay, the project involves the current Dubai Creek, an artificial extension of 500 skyscrapers. Dubai Waterfront construction was announced in 2005, announced Dubai Waterfront Hotel-island and the multitude of residential areas, and nearly 800 km of artificial water-front commitment to customers.

The International Media Production Zone (project made between 2003-2006) includes a lot, printing firms, publishers, media production companies associated with industrial segments.

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The Bawadi project, more than 27 billion dollars invesment. that is more than 29 thousand raise the current room number. The largest structure building of more than 6500 rooms will be provided, and it will be the world's largest hotel, "in Asia, Asian" called.

The nationalities among foreign investments in recent years, many people contributed to the enrichment of the city. Iran nearly 200 billion dollars invested in Dubai, 2005-2009 ta trade between Dubai and Iran, more than tripled.


Since 2000, the Dubai Municipality, the city-wide, large volume of the construction is planned. Dubai, particularly in relation to the Mina Seyahi area, and further towards Jebel Ali Jumeirah.

Huge number of construction cranes; 15-25% of all the world's cranes.

Built in Dubai and the UAE in general is much faster process than in any western country. This is due to the construction companies use cheap workforce from Asia, 12-hour working time, up to seven days. One of the main reasons for the boom that Dubai government does not want to depend on oil reserves, which is largely thought to be exhausted by 2010. Therefore, attractive commercial and corporate activity is expanding branches. Tourism is increasingly the focus is to contribute to projects such as Dubailand construction, or projects, such as the mammoth-sized shopping centers, theme parks, resorts, stadiums and other tourist attractions repository.

The other big change in direction took place in a 2002 law which made it possible for foreign nationals to buy the buildings belonging to the UAE. Of course, the rents also skyrocketed. professionals and companies have been world-wide who were attracted by the fact, inter alia, that tax-free Dubai. Legislation in this area is still developing the real estate market for foreigners is relatively new.

Dubai's economy heavily depends on the immovable property and the global crisis did not make this a good time. In one year, prices fell by 50%, and estimated that the total debt exceeds $ 80 billion. Part of the unused places, like office spaces, and almost all of the fourth home is vacant. But Emirates is not the end. For 2009 they forecast, more than 340ezer residential units, and the rental of commercial space is expected to double by 2011.

The Burj Al Arab means that "Tower of the Arabs", aka "the Arab Sail"), became a symbol of luxury. The 321 m, is the third highest building in the world, Burj Al Arab hotel. The island artificially created with dimensions of 280 m in Jumeirah Beach, and a private curving bridge connects the mainland. This symbolic complexum they wanted to symbolize Dubai, and a ship's sails show this. A coastal area where the Burj Al Arab and Jumeirah Beach Hotel is located in Chicago Beach was called previously, a storage company used this beach part.


Burj Al Arab Construction began in 1994. it was built to compare and identify a Dhow called an Arab sail boat type. epresents a significant tribute to the nation's seafaring heritage. Burj Al Arab continues the nautical theme established by its sister hotel, Jumeirah Beach Hotel and the Wild Wadi water park. The sail was a considerable technical challenge, featuring a double-skinned, Teflon-coated woven glass fibre screen across its ribbed belly. It is dazzling white by day and transformed to display a spectrum of colour at night, vibrant and alive against the skyline. It is the first time such technology has been used vertically to such a form and extent in any building world wide. Two "wings" spread in a V-shape of the huge "mast", while the space between them is enclosed in a huge atrium. The building interest in the name of Tom Wright, who said: "The client wanted a building that would become an iconic or symbolic statement of Dubai, is very similar to the Sydney Opera House, in itself, or the Eiffel Tower in Paris. It was in the building, which will be synonymous with the name of the country. "


Many engineering masterpiece was necessary to build the hotel. The hotel is built on an artificial island 280 m offshore. To secure a foundation, the builders had forty 250 meter long concrete piles into the sand. Engineers set up a large rock face, which is circled with a concrete honeycomb pattern, which serves to protect the bases from corrosion. Burj Al Arab's island was built far out enough to ensure that the shadow of the hotel's silhouette does not fall on the other Jumeirah properties on the mainland.

The main facade is glass and Teflon-coated Fiberglass, the main building structure steel, and reinforced concrete. Dimensions of the heights is 321 m, number of floors (above ground) Level 60, 180 m high in the yard. Burj Al Arab hotel in the world's second highest. Construction cost of U.S. $ 2 000 000 000 The total construction time from 1994-2000, but it took three years to establish the foundations and the islands, but less than three years to develop the building itself. The building has more than 70,000 m3 of concrete and 9000 tons of steel used in itself. Interior and materials

43,446 square metres of glass panels were used for the exterior of Burj Al Arab. The glass as produced in the UAE from materials supplied from Europe. The Ellipse Fountain include 20,000 litres of water, combined with bursts of fire, are orchestrated into the most unique and dramatic visual symphony at the entrance of the iconic hotel. This taming of the elements has never been achieved anywhere else in the world and was recently developed by Wet Design. Fireballs 2.5 metres in diameter are propelled eight meters into the air from each of the four towers, created by releasing a controlled amount of non-toxic propane gas. The result is a spectacular optical illusion, with the flames reflecting in the hotel's glass exterior.

This is one of the most expensive hotels in the world. Despite the size, the Burj Al Arab, only 28 double-storey floors comprises about 202 bedrooms. The small rooms area is 169 m , the largest 780 m2. Prices start from $2 thousund a night, the Royal Suite is the most expensive, ranging from $ 28 thousund each apartment per night. A different types of materials are used to reach the east and west specific design. White Tuscan columns and a spiral staircase in marble, gold leaf wrought-iron barrier show the impact of classicism and Art Nouveau. Spa-like bathroom, decorated, Hermès bath products in the accents of the mosaic tile patterns on the floor and walls, the Arab-influenced geometries, which can be found elsewhere in the building. Situated between the escalators leading to Sahn Eddar, this waterfall combines finely atomized water with fibre optics to produce a unique kaleidoscope effect. As water and fog flow downward through its glass, stone-filled steps, water arches elegantly in choreographed movement. The world's tallest atrium is over 180 meters in height. It is abundant in warm, natural light, flanked by golden columns, with a beautiful central fountain where water arches dance in sudden bursts over 42 meters into the air. The rarest Statutario marble was used in walls and flooring, as was used by Michelangelo when creating his masterpiece sculptures. Over 30 different types were used throughout the entire hotel, covering nearly 24,000 square metres: 10,000 square metres of smooth marble flooring in suites and lift lobbies and 13,000 square metres in public areas. Approximately 1,590 square metres of 24-carat gold leaf was used to embellish the interior.

Burj Khalifa

Sheikh Khalifa (Khalifa Tower "), before the consecration known as Burj Dubai. This skyscraper in Dubai, the world's largest - 828 - m to man-made architecture. Construction began in September 2004, after delays, on October 1, 2009 to be completed. The building officially opened on 4 January 2010 a huge, almost 1 hour of fireworks ceremony.

Adrian Smith was the main archite ct. Bill Baker, the principal structural engineer. The tower is the architectural and engineering contractor the Skidmore, Owings and Merrill in Chicago. The primary contractor was C & T Samsung of South Korea. Major contractors group, the Belgian Besix and Arabtec, the UAE. Turner Construction Company, was elected head for the construction project. The UAE law, the contractor and the engineer of record, Hyder Consulting, jointly and severally liable for the performance of Sheikh Khalifa.

The total cost of the project Sheikh Khalifa was approximately 1.5 billion dollars. Therefore, at the best prices to get a forexample an area close to 43,000 dollars per square meter of office space, as well as suites, such as the Armani Residences, 37.500 per m2. The global economic crisis coincided with the completion of the project, therefore, the demand now getting closer to zero.Therefore, again had to resort outside help, in neighboring Abu Dhabi person, of course, who helping hand in hand.


First, the highest compared with the existing built structures, and that's why the height was increased several times. The design architect, Adrian Smith, believed that it will not pass the upper tower section with the rest of the building, and thus increased the dimensions, of course, had to ask permission to do that. Only the upper part of the design part, does not include separate floors.

Architecture and Design

The desing of a so-called flower Hymenocallis called inspired. The three-lobed design by architect from here. "The tower, designed by Skidmore, Owings and Merrill, which also designed the Willis Tower (formerly the Sears Tower) in Chicago, Illinois and 1 World Trade Center in New York City, among numerous other famous high-rises. The building is similar to a pipe attached to the tower in the form of Willis, but not a bunch of tube structure. The design evokes Frank Lloyd Wright's vision for Illinois, a mile high skyscraper designed to Chicago. Marshall Strabala by the SOM architect, who worked in the building design team, Sheikh Khalifa is designed on the basis of the 73-floor Tower Palace Three, an all-residential building in Seoul, South Korea. In the early planning, Sheikh Khalifa was designed to be fully residential. After the original design by Skidmore, Owings and Merrill, Emaar Properties Hyder Consulting decided that the supervisory engineer. Hyder was chosen for structural and expertise MEP (mechanical, electrical and plumbing) Engineering Hyder Consulting's role was to supervise construction, certify, SOM's design, engineer and architect, and the inclusion of the UAE authorities. Emaar Properties is also dealt with GHD, an international multidisciplinary consulting firm, to act as an independent testing authority and control of steel and concrete. "

The design is from a sampling system embodying the Islamic architecture as well. Structural engineer Bill Baker, said that the building it was developing to meet the cultural and historical elements. The Y-shaped plan, promote the development of hotels and the living areas, pretty easy to create. The wings of the maximum allowed the admission of light. The central tower have three parts, around the central core. Rises from the flat desert fund the building itself, spiral-looking elements of the model, diminishing cross-section of the tower until the top of the complex. 27 units of terrace in the tower. At the top, and the central core of the spiral meet together. A Y-shape provides a full view of the Persian Gulf. From above seems the onion domes of Islamic notes, of the foundation design. In the planning process, it tried to reduce the stress caused by winds, and they rotated 120 degrees. The tower is the highest point, sways a total of 1.5 m. The height of the building, have developed a new technique, which helps to structurally stabilize the development of so-called buttressed core. This is a hexagonal core with three buttresses strengthened form, including "Y" shape. This makes it possible to keep the building itself, and won't twistin.

The tower includes more than 4,000 tons of structural steel. The central of Pinnacle tube mass of 350 tonnes made inside. A tall jack system is used for a total height of 200 m. The tower is also excellent telecommunication equipment. The outer covering made for the tower, a 142,000 m2 reflecting glass, aluminum, stainless steel construction panels, and vertical tubular fins. The coating is resistant to extreme summer temperatures in Dubai. In addition, the outside temperature is building on top of the 6 degrees cooler than the bottom. More than 26,000 glass panes used in the outer facade. The outer casing neede, more than 300 professionals workers.

Interior and Materials

Sheikh Khalifa also works to decorate the interior spaces, such as the 196 bronze and brass cymbals, the world's 196 countries represented. In the lobby will be able to hear different sounds, which come from the cymbals, and it sounds like water droplets on leves.

The hotel's interior designer Giorgio Armani. Includes the lower 39 floors. The hotel's opening on 18 March 2010th Corporate Office Suite and offices will open up. The sky lobby on the 76th level includes the Outdoor zero-entry pool, and also on the 43th floor will includes a swimming pool. The first 108th floor, more than 900 private residential apartments, as has already been sold. February 2010 approximately 25 thousand people will move in. Corporate offices and suites will have floor to the other, with the exception of 122, 123 and 124 floor, where the At.mosphere restaurant, lobby and the sky and inside the observation deck. The total of 57 elevators, and 8 escalators have been installed. The capacity of 12-14 lifts per person / cabin, the fastest rising and falling up to 18 m / s. Two-deck elevator, built-in lighting, entertainment features, LCD TV as well. 2909 stairs leading between the top of the building and the ground floor.


I always start with the research to the specific topics, because I have my ideas, but I have to write about relevant information. All information for this report was collected from the listed sources, and structured compare to my ideas. The various papers and articles were researched using the internet. I thought in the beginning with Dubai I won't have any problem, but on the and, I really had to put a lot effort into it.. I look through Google, Wikipedia, and therefore the rest of the sources and I scrutinize publications.


Even if we think of Dubai, that country what reached everything already, we are wrong. No world crisis can hold back, this kind of rise up. Of course in the background there is the money, but still until people want to invest, and have more and more great, enormous ideas, and building projects. This going to be the first place, where they want to bulid it, for today it is became a prestige question.

In 30-40 years they build up a whole "empire" from nothing, it is going continue, in many many more years, and there is one purpose, look into the future, what the human mankind capable of, and even if the run ot of the resources, mainly the financial part. still they can easily live from the tourism. Everybody would like to taste, and see the miracle Dubai...


Books and Articles

  • FRONTER, VIA University College, Guide to Writing Reports, 1st edition, 2007
  • Web sites, March, 2010.: