Dubai established its first free zone in ; Jafza, which was the largest free zone in the world. This also led to 30 more free zones that offer tax breaks, custom duty benefits and exemptions for foreigners. This resulted in attracting more global businesses. Dubai continued to become a dynamic and diversified economy with revenue generated through different streams.
The majority of its money comes from the production of goods, provision of services and Tourism. I guess that answers all our questions on what makes Dubai so rich? Experience all the richness the city has to offer. Pickyourtrail has some of the best Dubai packages to offer and if you want to craft your own Dubai itinerary. So pack your bags and get ready for a luxurious vacation. Happy travelling! November 25, Must Read. Business Sunil Kumar - November 10, 0. Read more.
Business Sunil Kumar - November 9, 0. Oman Sunil Kumar - November 6, 0. Please enter your comment! Please enter your name here. You have entered an incorrect email address! Latest News. Short-term permit service also available to migrants Now the service of short-term permit is also available to the migrants. This will save money to the The InfoTech hub was completely tax free and attracted lots of investors.
The boom led many foreign investors to notice the emirates and then plan to invest there. The best part about the property rules at that was that property owners could only own their respective properties for a period of ninety-nine years and hence there was nothing called freehold rule. During the credit crisis situation most of its real time big investors lost a lot of money and left their incomplete projects. Property prices started falling down significantly and thousands of local people started losing their jobs.
If this was not enough, the press came under the scanner of the Dubai Government and their clash led to a bad name. This will no doubt be the cabin chosen by the 44 year old owner of the Manchester City football club, Sheikh Mansour al Nahyan of the ruling family. The most expensive of the bunch is the , square meter Emirates Palace resort hotel.
Photo by Kenneth Rapoza. It's November. It's hot. You walk into the lobby and there are pictures of the deceased Sheikh Zayed immediately upon arrival and right under center of the palace's signature dome. It dwarfs everyone that walks under it. Reception hands you a rose and the key to your room, round and gold like a gigantic, toy coin. Mohammed Alaoui, the spokesman for the hotel, chats over a lunch at Le Vendome, a buffet-style restaurant overlooking the beach.
There's gold leaf on my chocolate cake. Where is everybody? The beach is deserted. A Red Bull volley ball net looks mighty lonely. A little bird parks on the ledge, some five stories above BBQ Al Qasr, a trendy, gazebo style restaurant opened only at night. You don't have to be a millionaire to stay here and enjoy it. It's a palace. You're the king here," he tells me, managing not to be pretentious.
For Westerners used to refined tastes and understated wealth, Emirates Palace can be gaudy. If you lived in the royal family home, still being constructed a few miles away, this would sort of be like staying in their guest house. The standard guest rooms are suite-sized.
The wallpaper looks like a sandy beach riding up on you from all four sides. The entryway has a blue, three foot round mandala carpet laid into a marble floor. A chandelier hangs over the bed. The fridge has a bottle of Laurent Perrier champagne. Out my balcony is the East Wing pool, equipped with river ride and water slide. The adult pool with water bars is a mile walk in the other direction. Golf carts can take you there if you don't want to walk and people watch.
A faux Bedouin tribesman sets up a tea tent. Another guy rides a camel. The real Bedouins are all middle class and have gone from pearl divers to oil men or financiers with falcons as pets. The participants here are low paid actors, usually from some other Arab nation.
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