Dubai’s real estate market has been powering forward in 2014, rising back to the prominence the Emirate enjoyed before the financial crisis.
Here are some interesting facts you must know known about extraordinary Dubai:
1. Foreigners make up 85% of Dubai’s population with Emiratis in a significant minority. The majority come from India, Pakistan, and Bangladesh seeking work in the booming real estate market.
2. Government provide subsidies to emiratis which include free education, medical care and free housing. However, 2014 has seen their subsidies cut back to actively encourage them to get jobs, mainly in the tourist industry.
3. Dubai is the on of the fastest growing city in the world. In 1991, the Emirate had just one tall building located at the edge of the desert – now there are more than 400 high rise buildings, including the tallest building in the world, the Burj Khalifa, visible from 95km away!
4. Dubai discovered oil in 1963 and today it accounts for around 11% of GDP with tourism and trading representing bigger components of its economy.
5. The Dubai Mall is the largest shopping center in the world with over 1,200 stores.
6. Dubai approached Disneyland with a view to building a resort in the Emirate. However, Disneyland turned down the project saying Dubai was too small. Dubai then went on to construct its own theme park called Dubailand.
7. Despite being in the middle of the desert, it is possible to ski in Dubai – inside the Mall of the Emirates.
8. There are no personal taxes in Dubai.
9. Dubai real estate is growing so fast that one out of every 4 cranes on Earth is located there.
10. The iconic artificial Palm Islands imported enough sand to fill 2.5 Empire State Buildings, that’s 94 million cubic metres in total.
11. The interior of the world’s most luxurious hotel – the Burj al Arab is decorated with around 1,790sqm of 24-carat gold leaf. The 7-star hotel is the fourth tallest hotel in the world with rooms costing an average €16,000 a night.
12. Dubai’s police force shies away from regular patrol cars, preferring supercars in the hopes of impressing tourists, including the Ferrari FF, Lamborghini Aventador and even the Aston Martin One-77!
13. In Dubai’s development pipeline is a climate-controlled ‘city’ to be constructed on 4.45km² of land with air-conditioned boardwalks connecting the various sections together. The city will be twice the size of Monaco.