Dubai is the most populous city in the United Arab Emirates (UAE). It is located on the southeast coast of the Arabian Gulf and is one of the seven emirates that make up the country. Abu Dhabi and Dubai are the only two emirates to have veto power over critical matters of national importance in the countryâ€™s legislature. The city of Dubai is located on the emirateâ€™s northern coastline and heads up the Dubai-Sharjah-Ajman metropolitan area. Dubai is to host World Expo 2020.
Dubai has emerged as a global city and business hub of the Middle East. It is also a major transport hub for passengers and cargo. By the 1960s Dubaiâ€™s economy was based on revenues from trade and, to a smaller extent, oil exploration concessions, but oil was not discovered until 1966. Oil revenue first started to flow in 1969. Dubaiâ€™s oil revenue helped accelerate the early development of the city, but its reserves are limited and production levels are low: today, less than 5% of the emirateâ€™s revenue comes from oil. The emirateâ€™s Western-style model of business drives its economy with the main revenues now coming from tourism, aviation, real estate, and financial services. Dubai has recently attracted world attention through many innovative large construction projects and sports events. The city has become iconic for its skyscrapers and high-rise buildings, in particular the worldâ€™s tallest building, the Burj Khalifa. Dubai has been criticised for human rights violations concerning the cityâ€™s largely South Asian workforce. Dubaiâ€™s property market experienced a major deterioration in 2008â€“09 following the financial crisis of 2007â€“08, but the emirateâ€™s economy has made a return to growth, with a projected 2015 budget surplus.
As of 2012, Dubai is the 22nd most expensive city in the world and the most expensive city in the Middle East. In 2014, Dubaiâ€™s hotel rooms were rated as the second most expensive in the world, after Geneva. Dubai was rated as one of the best places to live in the Middle East by American global consulting firm Mercer.
Mohammed bin Rashid Al Maktoum
is the Vice President and Prime Minister of the United Arab Emirates (UAE), and Emir of Dubai.
Since his accession in 2006, after his brother Sheikh Maktoum died, he has undertaken major reforms in the UAEâ€™s government, starting with the UAE Federal Government Strategy in April 2007. In 2010 he launched UAE Vision 2021 with the aim of making the UAE â€œOne of the best countries in the worldâ€ by 2021.
He is responsible for the growth of Dubai into a global city, as well as the launch of a number of major enterprises including Emirates Airline, DP World and the Jumeirah Group. Many of these are held by Dubai Holding, the holding company with multi-diversified businesses and investments. He currently owns 99.67% of the company.
Sheikh Mohammed has overseen the development of numerous economically transformational projects in Dubai including the creation of technology park and free economic zone Dubai Internet City, Dubai Media City, the Dubai International Finance Centre, the Palm Islands and the iconic Burj Al Arab hotel. He also drove the construction of the tallest building in the world.
A keen equestrian, he is the founder of the Maktoum family-owned Godolphin racing stable and the owner of Darley, the thoroughbred breeding operation with operations in six countries. In 2012, he rode the horse Madji Du Pont 160 km to take the FEI World Endurance Championship. 07 Feb 2016 Pressure mounts to strip Sheikh Mohammedâ€™s Dubai venue of 2016 world championship endurance event: The American Endurance Ride Conference â€“ pioneers of the â€œclassicâ€ sport since 1972 â€“ is demanding that the FEI relocate over cruelty to horses. The International Equestrian Federation is under pressure to strip Sheikh Mohammedâ€™s Dubai International Endurance City of the 2016 world championship event, as the horse welfare crisis in the United Arab Emirates sport escalates. The FEI and Emirates Equestrian Federation halted all UAE longâ€“distance race-rides last Wednesday until at least Feb 11 while further solutions were sought. The flogging of five exhausted horses by riders and their grooms during in a 120-kilometre youth ride at Al Wathba, Abu Dhabi on Jan 30 was witnessed by thousands of horrified viewers on the eventâ€™s live-stream.
He is a recognised poet in his native Arabic.