Dubai’s red carpet lifestyle

Aired July 2005

Far from the days of mythical Arabia of sand dunes, buried treasure and flying carpets, modern Dubai can confidently boast red carpet treatment. Marrying sophistication and infrastructure that rivals every major cosmopolitan metropolis.

Dubai has in recent years attracted the world’s who’s who for events and exhibitions, conferences and concerts, not to mention sport.

From the yearly Dubai desert classic to the Dubai open tennis tournament and of course the Dubai International Film Festival.

Its innovation and big-thinking mentality have lead to an unparalleled return on investment dynamic.

It’s an economy that is moving away from oil dependence and into the age of economic diversification and avant-garde luxury. In doing so, it furthers the vision of Dubai’s Crown Prince, Sheikh Mohammed bin Rashid Al Maktoum, to make Dubai cosmopolitan and welcoming to people from all backgrounds and beliefs.

In a part of the world often recognized for its religious conservatism, where five times a day, the sounds of the call to prayer, or aazan, ring throughout the five-star hotel draped, futuristic landscape.

Dubai remains committed to providing lifestyle options for all 140 nationalities that live there. Unemployment is unheard of and an appreciation for security perpetuates respect, camaraderie and above all safety.

Dubai’s drive to become the hub of business and leisure for this region was started over a generation ago with Sheikh Rashid bin Saeed Al Maktoum’s vision.

His endeavors ultimately proved successful and started Dubai on the path to a city boasting technological advancements and futuristic cityscapes.

The infrastructure enables many exhibition venues that today attract some of the worlds most high profile conferences and events that cater to every inclination.

Having successfully diversified its economy has made Dubai and its innovative ventures a continuum of success and opportunity. 2004 saw Dubai’s GDP rise a historical 16.7 percent to 1.8 trillion US Dollars.

With business booming, a profitable economy and a population enjoying a generous disposable average income; a lifestyle arose to accompany those that like to work hard and play hard.

The Education system in Dubai has historically been promoted by the government, which has always provided free education for UAE nationals and offered a wide array of curriculum options for the many Dubai-based expatriates.

Most foreigners living in Dubai choose to send their children to one of the prestigious international private schools, with private school students accounting for 40% of all students. Extracurricular activities are also heavily stressed and available in Dubai.

For primary, secondary and higher education, Dubai has had a long established history with the American educational system. Harvard Medical School will soon be opening its Harvard Medical School Dubai Center within the Dubai Healthcare City that will accompany a teaching hospital. This step by Harvard marks the first postgraduate medical institution to be established outside of Boston.
Healthcare City will be the biggest center for medical and health care on an international level within the area between Europe and South East Asia.

To become the world-class center of medical expertise, DHCC established a joint venture with the Mayo Clinic.

Continuing the idea of cluster economies, the realm of media has not been ignored. Dubai Media City and the revamped Dubai Media Incorporated are prompting a region long wary of objective reporting, into a new direction of free and unbridled expression.

The establishment of Dubai Media City allowed the Arab media that previously operated primarily out of London. The new Dubai TV newsroom, for example, is the largest and most technologically advanced in the Middle East and couples functionality with design.

After achieving the vision for 2010 of bringing 15 million tourists and travelers to Dubai, Sheikh Mohammed has a vision for 2020. It is estimated that the government alone will allocate more than $50 billion to major projects over the next 5 years. One of the projects already underway, and welcoming investors, is Dubailand.

Dubailand’s concentration of theme parks, museums and sports facilities is expected to be twice the size of Disneyland with about 55 hotels and resorts and offering up to 50,000 new rooms. While Dubailand prepares to attract 200,000 visitors per day, it plans to host half a million permanent residents in this city within a city.

Drawing from marketing, financial, and other resources imbedded in this emerging brand, Dubailand has attracted more than 50 per cent of the intended investment so far. Development will take place in phases over 10 to 15 years, and is expected to reach full completion by 2018.

One project currently in the works is the eco-tourism development named Dubai Heritage Vision, which aims to create an authentic Desert Village Oasis that encapsulates the regional flora and fauna, as well as illustrates regional culture, handicrafts and arts.

Millions of new tourists are heading to Dubai each year, and the quality of Dubai's shopping and entertainment are massive draws. Studies also reveal that tourism will boost the business in shopping malls in the coming years. Around 3.2 billion consumers with a collective GDP of US$18.3 trillion will visit Dubai.

This has lead to the expressed confidence in such developments as Dubailand’s Downtown area. This ambitious new development, called City of Arabia, will feature the Mall of Arabia, predicted to be the world's largest, and a dinosaur theme park developed in collaboration with the Natural History Museum of London.

Another cornerstone of Dubailand is the $2 Billion Dubai Sports City. It will hold a wide array of stadiums, training academies and other sporting facilities and play host to an array of international events.

Dubai Sports City has already received the endorsements of some of the leading names in sports industry such as Dubai Desert Classic Golf Champion Ernie Els and Manchester United's Soccer School.

Dubailand, which is part of Dubai holding progressively, offers inspired investment opportunities.

While Dubailand is rising in the midst of a desert, Nakheel, one of Dubai’s leading property developers has a portfolio of projects rising in the Arabian Gulf. Each of their projects echoes His Highness Sheikh Mohammed’s commitment to developing Dubai’s tourism sector and attracting the world’s top investors.

One major investor who is taking part in the growth potential of tourism in Dubai is Kerzner International, the leading international destination developer and operator of the world-famous Atlantis Resort in the Bahamas.

Kerzner International linked up with Istithmar, a government finance company, in a joint venture partnership, in order to build its second-branded Atlantis resort within one of Nakheel’s developments. This 2000 room mega-resort will be situated on top of 1 of 3 multi-billion dollar man-made islands, known as The Palm Islands, each reflecting the shape of a palm tree.

Another one of Nakheel’s projects is The World. This consists of an archipelago of 300 man-made islands strategically positioned to form the shape of the world map.

As Nakheel rapidly expands Dubai’s coastline, competitor Emaar looks to the sky.

Emaar’s Burj Dubai intends to be the world’s tallest building on earth.

Will these colossal projects truly become a reality?

It is for the investor to take a deeper look into the opportunities offered by a city growing at a rate incomparable to any other place in the world in terms of figures and innovation.

A city with lifestyle and vibrancy consumed by its increasing population.

So, far from the days of mythical Arabia, buried treasure, sand dunes,, and beyond the black gold of oil, modern Dubai is the conventional exceptionally.

From avant-garde luxury, to the reinvention of societies and the inconceivable mega project.

Dubai is a land of unparallel opportunity.