An Economic Overview

In the past decade, the city of Dubai has become synonymous with innovative investment, groundbreaking property developments and eye-catching architecture. This has primarily been achieved through the imagination, clear vision and liberal business environment created by the Emirate’s rulers.

The Emirate has one of the largest and fastest growing economies in the world today and its 80% expatriate population enjoys an extremely high standard of living. Dubai’s economy grew by nearly 16% in 2005, a growth rate that surpassed even China, an emerging superpower. In 2005, non-oil based business sectors such as real estate, media, information technology, transportation and finance captured the lion’s share of the market with 94.2% of GDP. With over US$ 100 billion of real estate projects currently either in development or under construction, all of these elements combined make Dubai a desirable place to live, work or invest in for the future.