Overview of Dubai

DChanChC

Progress in Dubai

Modern Dubai

Modern/Traditional Architecture

Boom Time: Pre-recession period

Initial economic gains from Oil: History and Timeline

• 1966: Oil is first discovered in Dubai at the Fateh field

• 1969: Dubai starts to export oil. The first export shipment of oil was180 thousand barrels

• 1972: Oil drilling exploration wells begin at Falah. Production begins June 1978

• 1973: New oil field discovered at Rashid and production begins March 1979

• 1982: Another oil field discovered at Margham, production started in 1984.

• 1999: Government owned, Emirates National Oil Company (ENOC) opens first oil refinery

• 2007: Dubai Petroleum assumes control of all oil and gas related projects in Dubai, following negotiations with international oil companies.

Economic gains from Construction and Real Estate industry

• 1901: Sheikh Maktoum Bin Rashid Al Maktoum established Dubai as a fee port • 1959: Construction of Dubai airport completed • 1960: Port Rashid construction • 1972: Jebel Ali port completed • 1974: Dubai Trade Center and Dubai Dry Docks • 1996: Burj Al Arab hotel • 1998: Emirates Towers • 2002: Creation of freehold property rights in Dubai which triggered the real estate

Boom. • 2002: Emaar Properties

1. 2002: Meadows Villas created 2. 2004: The Spings 3. 2006: Arabian Ranches

• 2002: Nakheel Properties 1. The Palm Jumeirah Islands created 2. The Palm Jebel Ali 3. Dubai Marina

• 2008: Burj Dubai

• Shows where the investment is coming from

• Real estate units sold are skewed towards the expat population (80%)

• Shows the number of real estate transaction done

• Compares different countries within GCC and shows UAE’s superiority

• SWOT analysis: shows viability of real estate sector

• Strengths and Opportunities out weigh Weaknesses and Threats which suggests that investing in real estate of Dubai is most likely to be profitable.

• Supply side bottlenecks have kept the demand-supply gap intact leading to high price

Tourism: Economic Gains

• Relatively young industry • Basic facilities for travellers in place

starting 1959

• Upward trajectory of tourist arrivals till 2008

• Upward trajectory of capital investment in infrastructure till 2008

• Increasing investment in infrastructure caused more tourism

• Dubai has more retail space than any other GCC country

• Space mostly occupied by prominent global brands

• These retail centers also have

indoor ski slopes, aquariums and skydiving

• 80% visitors come to shop and only 53% come to visit heritage sights

• Real estate along with finance clusters drove development of hotels

• Use of 5 star hotels shows lavish spending of vistors

• Clear upward trajectory of visitors to Dubai till 2008

• Dubai’s tourism from foreign transit passengers reduced after economic crisis

• Reduction in tourism from Western countries shows reduction in the spending on leisure activities

• Reduction in the flights going through Dubai also reduced

• Dubai’s (comparatively) liberal policies, still attract large numbers of GCC tourists

Doom Time: Post-recession period

• Dubai’s GDP growth till 2008

• Diminishing role of oil revenues

• Constant increase in loans from other states

• Government surplus converted to deficit

• Dip in the hospitality business indicates reduction in tourism

• Some progress made since recession in 2010

• Overall reduction in the projects announced, started and completed throughout the time period

• Large number of projects canalled and put on hold after the economic crisis

• half of construction projects have been put on hold or cancelled, leaving half-built towers on the outskirts of the city

• Residential sector is hardest hit by economic crisis followed by commercial sector

Technology

• Automatic Fare System (Dubai Metro)

• Dubai Internet City

• Dubai Media City

Dubai Versus Toronto (Can you really compare?)

Talent

• Dubai Knowledge Village

• Dubai Harvard Foundation

• Dubai Sports City

Question Time! Stop Sleeping

• Why do you think majority of Dubai’s constructions end up with the word “City” or “Village”? What kind of Image is Dubai trying to create with this wording?!?!?

Tolerance

• Culture firmly connected to Islam

• Freedom of Religion

• Foreigners cant own a business alone

Video (3D)

• http://www.pentominium.com/vt.html

Project: Dubai Sports City

• Completed in 2011, but still expanding

• Projection worth $4 Billion

• 5 major sport venues: 1. 2 out door multi purpose stadiums; 60,000 capacity 2. 1 field hockey stadium; 5,000 capacity 3. 1 cricket stadium; 25,000 capacity 4. The Els golf course

• Goal of project to create a world class sporting infrastructure in Dubai and making it

a destination for the sporting world of cricket, football, field hockey and golf

• Improve economy by hosting popular games and attracting visitors

• Boosting local economy by creating jobs, selling tickets and tax revenues

• Will help develop new sporting talent

Project: Dubai Metro

• Launched September 2009

• Cheap and accessible

• Project cost 7.6 Billion dollars

• So far 2 railway tracks built (Green and Red), 2 still to be completed

• Green lined: 8 underground stations, 12 elevated stations. Covers a distance of 8 Km underground and 15 Km above ground. Complete length of time for green line is 36 minutes.

• Red line: 29 stations, 4 underground and 25 above ground.

• Goal of project is to connect every corner of Dubai and rid the city from traffic congestion. Likely to strengthen Dubai’s economy.

• Improved transportation will attract more visitors which will boost tourism economy.

Dubai Int. Airport

• Major Aviation Hub

• Emirates Airline

Expansion of Dubai’s International Airport

• Expansion of Concourse 3

• Purpose of Expansion

• Impact on Creative Eco.

Pentominium • Unique Concept of

Pentominium

• Living In the Pentominium

• Purpose of the Pentominium

• Impact on Creative Economy

• QUESTIONS!?! Don’t Be Shy or I shall start calling out NAMES!

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