Dubai

Society Pakistan & World Affairs
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How come Dubai has so much money? Where’s it all coming from?

Is it because of all the oil? I heard sometimes it starts raining oil there - that’s how much they have. _

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Re: Dubai

Only 7 percent of UAE economy is oil based.

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Re: Dubai

phatima1 as mo said above, very little development in Dubai is because of oil, most of it is their own generated thru busniesses, investments, marketing etc.

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Re: Dubai

So what do they invest in?

More specifically, where is the funding for this Jebel Ali Palm project coming from?
http://www.nakheel.com/developments.aspx?sectionid=4&developmentid=1

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Re: Dubai

mujhe pata hota to mai apnay projects na finance karwa leta ? :stuck_out_tongue:

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Re: Dubai

Look there is no secret to Dubai’s success. They are the “good Arabs”. They have provided relatively open society. You want to play or pray you can do both in Dubai. You want to eat pork, they got it, and if you want halal, they will serve you accrodingly.

Dubai being a port city for a long time has given them an attitude similar to the one you can find in Singapore, or New York. Everything goes.

Also they are in the lap of US and UK 100% and that helps bring more investments.

At this stage their aviation industry provides almost 20% of the total income. Hotel and tourist industry is the best in the region.

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Re: Dubai

^ Yea man. They’ve got some nice hotels. :phati:

Another question. How could you gain citizenship in Dubai? I heard you can’t.

Cappy - lolll. I dunno. I thought it might have something to do with having authority. But hey, now that antiobl has provided an anwer, I guess you can go right ahead and start up with some new projects. I’ll invest my weekly allowance for the cause. =)

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Atleast you can get “permanent residence” thing like Green Card in US, which allows you to live in Dubai for your life… “work/business” may still need special permission.

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Jeez, what a bunch of stiffs. :rolleyes:

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very good questions..

and just like all other good questions.. there is no definite answer.. Yes there is trade money and all but have another look at the projects underway and it just doesn't add up.

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So how does the sheikh make money? There is no tax and very little oil income. I know they sheikh owns a whole lot of businesses, but most sheiks prefer to have a guaranteed source of income (oil, gas, etc).

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Re: Dubai

hayn?

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I mean, why don't they let anyone gain citizenship?

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You know how flooded and uncontrollable that'll become if they do that. Nobody, I mean no "country" wants its own citizens to be overtaken by "foreigners" whether you are in 3rd world or 1st world (US, Europe..... very restricted immigration in most cases).

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Re: Dubai

Yea, true. That's what I was thinking.

So is there like a limit to how long one can 'visit'?

Mey kya ji
Mey kya ji
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Re: Dubai

If you own a property in dubai, the building managing company will give you residense visa, but they will be charging you a fees per head per year as service charge which is approx. 1000 US $ a year/head. quite expensive i say.

also most of these new building for freehold property for foriegners are not covered by the Dubai municipality, fot the upkeep of your property you have to pay around 10% of the value of your property to the managing company per year.

coming back to the topic, there is one oil rig working in DXB offshore which is also not exploring or developing the field right now, but doing the workover wells trying to keep the wells alive. 99% of the oil for local consumption comes to dubai from abu dhabi.

there is one rig on exploration close to hatta area in dubai onshore, but the results are not very impressive so far.

so the truth of the matter is they are not oil rich at all.

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Re: Dubai

there are three options;

you can apply for a month visa.
you can apply for two month visa.
both the visas can be extended by one month after expiry.

Every 1111 th poster WINS.....
Every 1111 th poster WINS.....
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Re: Dubai

:konfused: by two pink panther avatars in the thread

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DUDE WTH! I WAS JUST ABOUT TO CHANGE MY AVATOR TO THAT EXACT PICTURE. (someone sent it to me on MSN) you FREAK! :(

Change ittttt!!! :(

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Re: Dubai

So what about all this money conversion business I'm hearing about that Dubai runs?