An Introduction to Dubai
From the timeless tranquil desert to the lively lanes of the souk, Dubai offers a kaleidoscope of attractions for everyone. In a single day, one can experience everything from rugged mountains and smooth sand dunes to sandy beaches, blue sea and lush green parks; from dusty villages to luxurious residential districts and from ancient houses with traditional windmills to ultra-modern sky-scrapers and shopping malls. Dubai is both a dynamic international business centre and a laid-back tourist escape and a city where the modernity of the 21st century walks hand in hand with the simplicity of a bygone era. It is these contrasts that give Dubai its unique flavor and personality; a cosmopolitan society with an international lifestyle, yet with a culture deeply rooted in the Islamic traditions of Arabia.
The vibrant and cosmopolitan Dubai we see today is the product of the last 20 years of intensive development. In days gone by, Dubai was a small trading port, clustered around the mouth of the Creek. By the turn of the 20th century, Dubai was a sufficiently prosperous port and attracted settlers from Asia and The Gulf. The souk, situated on the other side of the Creek, was also thought to be the largest on the coast, with an array of about 350 shops. The international trade which flowed from Dubai's cosmopolitan contracts was the basis for its rapidly increasing prosperity. This gave the city an early start in development before the beginning of oil production in the late 1960s.
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“Dubai was an outpost of 5,000 people in the 1950s. In 1967, oil was discovered, which gave the ruler, His Highness Sheikh Ahmed bin Saeed Al Maktoum, essentially an endless reserve of resources and no budget-limit to build what has become a spotless, contemporary, model city with no taxes, free health care, and a zero-crime rate.” |
Oil now contributes less than 10 per cent of the total economic production with trading, manufacturing and services including tourism now dominating the economy.
Dubai Investment
The Emirate of Dubai in the U.A.E. is one of the great success stories internationally in the process of economic development. Traditionally the trading hub of the Region, Dubai is now extending its success into tourism and knowledge based industries. Testament to Dubai's arrival on the international stage is hosting of the prestigious IMF/World Bank meetings in September 2003.
His Highness General Sheikh Mohammed Bin Rashid Al Maktoum Crown Prince of Dubai's vision is to provide the best the world has to offer. In the pursuit of excellence the Government has always looked upon the private sector as full partners. With no personal corporate or sales taxes, foreign direct investment has expanded strongly and mega projects have become synonymous with Dubai's development.
The burgeoning residential property sector with a myriad of luxurious master-planned housing projects has been a major contributor to Dubai's economic development.
Dubai's strategic location is also a key element in its success. The heart of one of the worlds richest regions, Dubai is located midway between the Far East and Europe. Over 120 shipping lines and 100 airlines connect to more than 140 global destinations. Dubai's location makes for easy accessibility. London is seven hours away, Frankfurt six, Hong Kong eight, and Nairobi four.
Dubai’s award winning airport is now in the midst of an expansion which will quadruple its size and Emirates Airlines has recently placed orders for 45 Airbus A380 jumbo jets, placing further confidence in Dubai maintaining its status as the preeminent transcontinental commercial & air hub, bridging Europe, the Middle East and Asia.
Addionally, a 2nd International Airport, Jebel Ali Airport, is now in construction near Dubailand.
Multi-national companies increasingly see Dubai as the obvious choice for establishing operations in the Region. Proximity to the Indian subcontinent also not only gives access to a market of over 1 billion people but the ability to benefit from an increasingly talented and competitive labor supply.
The pursuit of excellence has resulted in one of the best infrastructure facilities in the world. State of the art telecommunications, reliable power, modern schools and healthcare are all attracting an increasingly multi-cultural and highly trained workforce. The Government projects a doubling of population by the year 2010. Luxurious living, the finest cuisine and world class shopping are now the hallmarks of Dubai enjoyed by residents and visitors alike.
Dubai Property FAQ
Who Can Buy?
Any investor, overseas or resident, can purchase in Dubai’s luxury property developments.
Leasehold or Freehold?
Freehold is available on most of the developments Essential Worldwide deals with. In many cases there is a mixture of freehold and 99-year leasehold property.
Price Comparison
Dubai property costs an average $1,000 per square meter, as opposed to $5,000 per square meter in London). Price ranges vary on a development-by-development basis.
Budgetary Guide
Waterfront development Apartments: 1 bed $100,000 and above, 2 bed $159,000 and above, 3/4 bed and luxury less than $835,000. Contact us for development specific prices and availability.
Mortgages
Both HSBC and Tamwheel offer several competitive options on your new Dubai Property. After achieving 30% equity in your property you can easily mortgage the rest, Mortgages are normally non status and at a fixed rate of between 5% and 6%.
Payment Terms
In general, a deposit representing 10% of the buying price is required at the contract-signing stage for all new development properties. This is followed by what are known as stage payments. Contact us for project-specific details.
Bank Accounts
Buyers do not need a local bank account to arrange purchases.
Purchase Time
Purchases normally take no longer than two weeks to complete and are straightforward.
Government Tax
There are no government taxes of any kind when purchasing a property in Dubai.
Development Service Charges
Minimal service charges are payable to developers for maintenance, landscaping and refuse collection. This charge varies per development.
Residency
In general, the Dubai Government issues permanent residence visas to new property-owners and their immediate family as per the latest immigration regulations. Residence visa renewal costs just $1,360 every 3 years, and this permits the holder to work in Dubai.
Dubai Basics
Area: The total area of Dubai is approximately 2,428 sq miles.
History: The seven independent emirates of Abu Dhabi, Dubai, Sharjah, Ajman, Ras Al Khaimah, Umm Al Quwain and Fujairah came together to form the United Arab Emirates (UAE) in the year 1971. While Abu Dhabi is the capital city of the UAE, Dubai remains its commercial centre.
Location: Dubai is located on the Eastern coast of the Arabian Peninsula, in the South West corner of the Arabian Gulf.
Weather: Dubai enjoys 365 days of warm sunshine, with cooler evenings and occasional showers in the months between November to March.
Climate: The UAE has a sub-tropical, arid climate with infrequent and irregular rainfall, amounting to less than 13 centimeters a year. Temperatures range from a low of 10 degrees (Celsius) to a high of 48 degrees. The average daily maximum is 24 degrees in January, rising to 42 degrees in July.
Time zone: The UAE is 4 hours ahead of GMT (+4 GMT)
Population: Dubai is home to a little less than 1 million residents with 79% of the population employed.
Transport: Dubai offers a variety of inexpensive and efficient public transportation and you can choose between metered local taxis, intra-city and inter-city buses, private car hire services and abras (local boats).
Economy: The UAE is one of the world's wealthiest countries, with a GDP of US $54 billion (2000), and has the third-largest proven oil reserves in the world. While oil and gas production form its foundation, Dubai is increasingly broadening its economic activity to include: real estate, tourism, trading and manufacturing.
Cultural mix: Owing to the resources and foreign enterprises located in Dubai, more than 80% of the population is expatriates from across the globe and the city is home to almost 200 nationalities.
Currency and credit cards: The official currency of the UAE is the Arab Emirates Dirham (AED or Dhs). Each Dirham is divided into 100 fils and is held constant against the US Dollar at an average of 3.67. All banks operate from 8.00 am to 1.00 pm, Saturday through Wednesday and 8.00 am to 12.00 noon on Thursdays. Currency exchange houses are open until late in the evening. All international credit and debit cards are widely accepted.
Clothing: Visitors are free to dress according to their personal choice. Shorts and skirts are acceptable for ladies. Most Emirati men and women still choose to wear the traditional national dress. Lightweight summer clothing can be worn for most of the year, but the temperature can drop quite sharply at night during the winter so a sweater or light jacket may be advisable.
Electricity: The standard electricity supply is 220/240 volts. American appliances may need a transformer.
Hospitality: Dubai is extremely well known for its warm hospitality and rich cultural heritage, and the Emirati people are welcoming and generous in their approach to visitors. The environment exudes a feeling of calm and safety with absolutely no crime concerns.
Languages: While Arabic is the official language, English is very widely spoken, especially in business. Given the large size of the expatriate population, several other languages are also used in everyday life, headed by Hindi, Urdu and Farsi.
See and Do
The city of Dubai embraces its namesake creek, dividing it into two halves. The main sightseeing circuit in Dubai is split between Bur Dubai and Deira which lie on opposite sides of the water, and the gently curving Dubai Creek is an attraction in itself. You will have plenty of opportunities for some brilliant views of the city from the water: gleaming skyscrapers on one side, and old trading dhows on the other.
Deira's many attractions include the historic quarter of Bastakia, as well as old souks and covered marketplaces. Wandering along the alleys, you can explore the Spice Souk and the Gold Souk. The Dubai Museum is housed within the beautifully restored Al Fahidi Fort, and is a must-see for first time visitors to Dubai. Built in 1799 to defend the city against invasion, it has served as both palace and prison and the museum's collection includes life-size figures and galleries depicting Arab houses, mosques, date gardens, desert and marine life.
On the Bur Dubai side, Heritage Village, located in the Shindagah area, is a family destination where you can watch potters, weavers and artisans at their crafts. The adjoining Diving Village offers a cultural microcosm of pearl diving and fishing. Sheikh Saeed Al Maktoum House, a museum restored from the house of Dubai's former ruler and dating back to the late 1800s, is within the same complex. With its unusual layered rooms and authentic wind towers, Sheikh Saeed's House showcases regional architecture at its best.
If you drive west from the city centre, you will reach the popular suburb of Jumeirah, home to some of Dubai's finest luxury hotels and resorts, unspoilt stretches of sunny beaches and water sports complexes. In Jumeirah is the Grand Mosque, re-built in 1998, with the city's tallest minaret, nine large domes and 45 small domes - a distinguished landmark and an important place of worship. Looking for a great beach hotel in Jumeirah? Essential Worldwide recommends the Dubai Marine Beach Resort & Spa, located opposite the Grand Mosque. See www.dxbmarine.com for full details.
About 115 kms south east of Dubai, in the heart of the rocky Hatta Mountains, is the 3000 year old Hatta Village, an important historical site for the region. The two towers overlooking the village used to be defence fortresses against hostile invaders, and during a relaxed day at the Village, you can visit the Houses of Traditional Handicrafts and Palm Products, The Castle Centre, and the 200 year old Sharia Mosque.
Outdoors fun and relaxation Dubai is an exciting year round destination that offers unlimited opportunities for rest and recreation, be it a walk through a lush green family park, an adventurous day in the waters of the Arabian Gulf, or a pampering session at one of the many health spas.
Beaches: Some of Dubai's beaches are attached to private hotels, where, for a small fee, you can spend the day on the sand and in the waters of the Arabian Gulf. Other beaches and waterfronts - the Corniche and the Creek - are free for public access, and feature a range of water sports offered by several operators.
Desert safaris: One of Dubai's most popular tourist attractions is the desert safari: a unique experience that combines an adventurous 4WD car ride over sand dunes with camels, belly dancers, henna designers, falconers, and a barbecue dinner by starlight. Other attractions include sand skiing, sand boarding, sand karting and 4WD desert driving
Fishing: The warmth and shelter of the Gulf attract a large variety of fish, and several local companies provide full and half day trips to the best fishing waters about 12 kms offshore from the mainland.
Golf: Dubai has the unique distinction of being the only golfing centre in the world to host major international tournaments on both the European and Asian PGA circuits. Visiting golfers can choose from various clubs and courses, each of championship quality and presenting a different type of challenge. See our Golf Spotlight below for more detailed information.
Treatments and therapies: Dubai is home to an extraordinary number of spas and wellness clinics, ranging from internationally renowned brands to ancient Chinese and Indian holistic treatments
Spotlight on Golf
The model for Dubai's golf course boom is American in style. The eight golf courses and facilities, with more on the way, are conceived and built with the comforts and appointments that Americans added to the game: motorized golf carts, automated GPS yardage devices, beverage carts and half-way houses, comfortable locker rooms, and golf shops stocked with quality equipment and fashionable apparel. No caddies, however, as there is little demand for them.
Golf visitors to Dubai can be assured of never getting rained-out, but in July and August, temperatures officially reach as high as 52 Celsius. The temperatures aren't always extreme, and the heat can even be avoided by playing golf at Nad al Sheeba Club, a regulation 18-hole golf course that is open until midnight because it is fully illuminated by floodlights!
The Courses
All courses allow guest play. Central booking at www.Dubaigolf.com
Dubai Country Club
27 holes: Al Awir Course: 6,477 yards, par-71. Opened in 1971. 9-hole Creek Course shorter for beginners and juniors. Note: Entire course is sand. Golfers are given a piece of artificial turf to carry with them and hit their shots from. Greens are soaked in oil and brushed for smooth, fast putting.
Emirates Golf Club
36 holes: Majlis Course, 7,101 yards, par-72. Opened: 1988. Architect: Karl Litten. Wadi Course, 7,100 yards, par-72. Opened: 1996. Architect: Jeremy Pern/Karl Litten. Note: Majlis Course hosts the European Tour's Dubai Desert Classic. Ernie Els shot course record 61.
Dubai Creek Golf and Yacht Club
27 holes: Championship Course: 6,839 yards, par-71. Reopens in Dec. 2004. Architect: Ryder Cup star Thomas Bjorn. 9 hole, floodlit, par-3 course. Note: The landmark clubhouse is designed to resemble the sails of a traditional Arab dhow (boat). Park Hyatt is building attached hotel.
Nad Al Sheeba Club
18 holes: 6,503 yards, par-71. Opened: Front nine: 1993; back nine, 1996. Completely floodlit for night play. Links-style course has double green and crossing fairways. Note: Inward half plays inside the oval of the Nad Al Sheeba Race Course, home to the Dubai World Cup, the world's richest horse race.
Jebel Ali Golf Resort and Spa
9 holes, 3,299 yards, par-36. Four sets of tees allow for varying lengths on second loop. Played alongside the marina, a saltwater lake comes into play on five holes. Note: Tiger Woods, Ernie Els, Darren Clarke, and others have played in challenge matches at Jebel Ali as part of the Dubai Desert Classic.
The Montgomerie Dubai
18 holes: 7,308 yards, par-72. Opened: 2003. Architects: Colin Montgomerie and Desmond Muirhead. Note: 14 lakes and 72 bunkers, plus the world's largest green: 58,000 square-foot 13th is built in the shape of the United Arab Emirates.
Arabian Ranches Golf Course
18 holes: 7,698 yards, par-72. Opened: 2004. Architects: Jack Nicklaus with Ian Baker Finch. Note: No water hazards just desert sand bunkers.
Dubai Festival City Al Badia Golf Resort
18 holes to open in late 2004. Architect: Robert Trent Jones II. Note: 11 lakes, small streams, and "rivers of sand."
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