As seen on 60 Minutes Dubai Inc. reported by Steve Kroft.
The Biggest Story in the World — Dubai – home of the world’s largest construction site and one of the most amazing stories in our world today.

While millions flock to Dubai annually, from an American perspective it’s “the Middle East we don’t know”.

Still surrounded in misunderstanding by so many in the US, the massively positive story of Dubai and Middle East 2.0 is the real story of change in the Gulf.

It is a story of peaceful, constructive excellence and the pursuit of dreams. A story very much in line with true American values.

Dubai is a city in the emirate of Dubai which is part of the United Arab Emirates or UAE in the Persian Gulf. The UAE is part of the GCC, Gulf Cooperative Council, an economic group of nations along the lines of the European Union (EU). The GCC includes the United Arab Emirates, Oman, Qatar, Kuwait, Bahrain and Saudi Arabia.

The growth in Dubai is representative of the growth in the region. While many in America associate the Arab world, the Middle East, the Gulf or sadly Islam and Muslims with terror and terrorism, war and violence, the real story of the Middle East is what is going on with construction, commerce, art, development and millions of people making a better life for themselves.

There is clearly a big difference between the perceptions of Iraq or other areas in the region and reality. Some people tend to think that Iran, the UAE, Iraq, Afghanistan, Pakistan and Saudi Arabia are all the same – the region is as varied as the Americas.

Richard Branson, Tiger Woods, Martha Stewart, Madonna and Donald Trump all have business ventures in Dubai. The area is known mostly for real estate but many other projects continue there daily.

Despite a global slowdown in the travel business, hotels in Dubai registered a five percent increase in the number of people in the first half of 2009 to host 3.85 million numbers in comparison with the same period the previous year, said the Department of Tourism and Commerce Marketing (DTCM) yesterday.

While the five-star beach hotels posted an average occupancy of 90 percent in the first week of August 2009 In July, the total number of GCC tourists who stayed in five, four and three star hotels in Dubai first half year amounted to 64,102, marking an increase of 35 percent over the same period last year.

This significant increase is largely due to the DTCM to promote summer programs, including Kids Go Free, DTCM said in a statement.

“The DTCM of marketing initiatives and promotions, in cooperation with the hoteliers and professionals of the tourism industry, has greatly contributed in achieving the high growth and maintenance of robust tourism economy,” said Khalid bin A Sulayem, DTCM Director General, in a statement.

Dubai currently has a total of 58,147 hotel rooms and apartments, 40,943 hotel rooms and 17,204 hotel apartment floors, the emirate has witnessed a 17 percent increase during the first half of 2008, said DTCM.

What also adds momentum to the hotels in Dubai “guest numbers is the fact that Dubai hotels continue to lead the world in profitability, with net profits, or margins of 35 percent in 2009, according to industry executives .

CBRE Hotels according to the data, the net benefit of five star hotels in Dubai above the rest 30 percent in the second quarter of 2009, while in 2008, the average margin of five-star properties were 35 to 38 percent. And his years, is likely to be between 32 and 37 per cent.

The momentum is likely to remain in the second half of the year, with occupancy levels remaining at optimal levels, according to CBRE Hotels.

Company data show that the occupancy rate of hotels in Dubai for the second half of 2009 is expected to be at 68 percent.

Having witnessed up to 60 percent on average the price of the room for almost a year, Dubai hotels will raise rates by up to 30 percent in the fourth quarter, a senior executive of CBRE Hotels recently told Emirates Business.

Sharjah, on the other hand, reported a 11.8 per cent in the number of guests in the first half of this year. Guest number fell to 671,662 from 761,495 in the period in the same period in 2008, Sharjah Commerce and Tourism Development (SCTDA) revealed recently.

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Dubai Creek (Arabic: Khor Dubai) is a saltwater creek located in Dubai. This historic focal point of life in Dubai, The Creek, a natural sea-water inlet which cuts through the centre of the city dividing city into two main sections – Deira and Bur Dubai. The eastern and western sections are linked via four bridges (Al Maktoum Bridge, Al Garhoud Bridge, Business Bay Crossing and Floating Bridge) and one tunnel (Al Shindagha Tunnel).

It was along the Bur Dubai creek area that members of the Bani Yas tribe first settled in the 19th century, establishing the Al Maktoum dynasty in the city.

This Picture Taken in 1964. Click here To Watch The Picture in Full Size…..
It is very interesting to see the colour and bustle of the loading and unloading of dhows which still ply
ancient trade routes to places as distant as India and East Africa. The creek remained an important element in establishing the commercial position of Dubai, being the only port or harbor in the city. Dubai’s pearling industry, which formed the main sector of the city’s economy, was based primarily on expeditions in the creek, prior to the invention of cultured pearls in the 1930s.

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The creek’s initial inlet into mainland Dubai is along the Deira Corniche and Al Ras areas of eastern Dubai and along the Al Shindagha area of western Dubai. It then progresses south-eastward through the mainland, passing through Port Saeed and Dubai Creek Park. The creek’s natural ending is at the Ras Al Khor Wildlife Sanctuary, 14 kilometres (8.7 mi) from its origin at the Persian Gulf.

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An attractive way to view the Creek and the dhows is from an abra, one of the small water taxis which criss-cross the Creek from the souks of Deira to those on the Bur Dubai side. Boatmen will also take visitors on a fascinating hour-long trip from the abra embarkation points to the mouth of the Creek and inland to the Maktoum Bridge, passing on the way many of the city’s historic and modern
landmarks.

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At the inland end of the Creek is a large, shallow lagoon, now a wildlife sanctuary which has become a haven for migrating shore birds. Some 27,000 birds have been counted here at one time during the autumn migration. The most spectacular are the many Greater Flamingos which have made the Creek their permanent home.

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An extension of the creek has recently been approved. The extension, which is part of the Business Bay development, will bring the creek all the way around Bur Dubai and into the Persian Gulf. The expansion will initially add 10 kilometres (6.2 mi) to the creek, which will eventually be increased to 12.2 kilometres (7.6 mi) by November 2010. The 10 km extension (which was nearly completed in late September 2007) costs Dhs. 484 million (US$ 132 million).

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Additionally, a new project consisting of seven islands known as The Lagoons was proposed to be built on Dubai Creek. The center piece of this project will the be Dubai Towers Dubai, a set of towers of which the tallest will top 400 metres (1,312 ft) while two others will exceed 300 metres (980 ft).

Some More Cool Collection Of Dubai Creek Pictures-(Click on the Picture To Enlarge)

Map Of Dubai Creek

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The Abras of Dubai Creek

Dubai Creek Development

Dubai Creek Abra Ride

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According to London-based property adviser Mohammed Kashani-Akhavan, the current cancellation of development projects is likely to reduce supply, thus resulting in existing properties increasing in value in the future.

Dubai-based Meraas Development, which has unveiled a $95bn (£63.8bn) property project since being formed just two months ago, is the latest construction firm to announce that it is now reconsidering its plans in light of the economic slump.

Another Project, Trump Tower, a £535m scheme planned for one of Dubai’s palm-shaped islands, is another scheme to have been suspended in recent weeks.

Kashani-Akhavan, who has 27 years experience in property investment said, “It is a great time to invest,” he remarked, adding that in order to become a successful property investor the best tactic is to “buy low when everybody else is selling”.

He also stated that the emirate’s “capable and committed leadership” is well-positioned to ensure a successful future for Dubai, noting that it has already helped turn the city into one of the “most important in the world”. “That should give investors every confidence in Dubai’s future prosperity”, He added.

Peter Cooper, author of the book Opportunity Dubai, making a fortune in the Middle East, said there is a much better argument to be made for buying at depressed prices In Dubai than in the UK or even the US.

‘Real estate price falls may already be fully priced into the market in the United Arab Emirates, while prices are still heading down in the UK. It is a feature of emerging markets that price downturns are swift,’ he explained.

‘This is a tough one. Oil prices could fall further in 2009 and the UAE economy lags oil price falls by six months or so. Could a fall in the US dollar attract back the UK and European buyers who have fled since the summer?’ said Cooper.

But he concluded that the UAE has to be a good choice for the future.

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