Dubai

Dubai is located on the Persian Gulf, southwest of Sharjah and northeast of Abu Dhabi, and reaches into the interior.

Dubai is the most populous and second largest emirate (in terms of size) in the United Arab Emerites. Unlike other members of the UAE, Dubai’s revenues from oil only account for 6% of its gross domestic product. A majority of the emirate's revenues are from the Jebel Ali Free Zone (JAFZ), an economic zone where just about anyone can take advatage of lucrative business and tax incentives. 

There has also been more revenue from tourism in recent years which is only expected to increase with the addition of new attractions like DubaiSportsCity and The World.  Lately, Dubai is getting world attention with enormous construction and development projects, making it the fastest growing city in the world.  Also, the city is currently under bid to get the World Olympics in 2020.

Economy

The Dubai economy is growing fast with a total GDP of 16 per cent in 2005.  Oil reserves in Dubai are less than one-twentieth that of the emirate of Abu Dhabi, and oil income is now only a small proportion of the emirate's income. 

Transport links are bolstered by its rapidly-expanding Emirates Airline, founded by the government in 1985 and still state-owned; based at Dubai International Airport, it carried over 12 million passengers in fiscal year 2005.  In 2006, the airline signed a deal worth US$ 3.3 bilion for 10 of Boeing’s new 747-8F aircraft.  This was in response to a projection of six percent annually for the next two decades in air traffic.

The government has set up industry-specific free zones throughout the city.DubaiInternetCity, now combined with DubaiMediaCity is one such enclave whose members include IT firms such as EMC Corporation, Oracle Corporation, Microsoft, and IBM, and media organisations such as MBC, CNN, Reuters, ARY and AP.

Real estate and property

The government's decision to diversify from a trade-based but oil-reliant economy to one that is service- and tourism-oriented has made real estate more valuable, resulting in a property boom that started in 2004 and is still underway.

The property boom is largely driven by mega-projects, whether off-shore such as The Palm and The World or inland such as Dubai Marina and Dubailand.

The aspirations of the ruling sheikh are reflected by the ultra-modern architecture of the city, home to iconic skyscrapers such as Princess Tower, which is in the Guiness Book & Records as the tallest residential tower in the world at 107 floors high, and The Cube fitted with art green glass and an outdoor swimming pool, complete with palm trees, perched on a middle floor.