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Dubai

History, Information

The history of Dubai: From a small fishing village to a global city

April 22, 2023 / by DCBAdmin

Dubai, a global city and business hub in the United Arab Emirates, is a city of glittering skyscrapers, luxurious hotels, and world-class shopping destinations. However, this city was not always the thriving metropolis it is today. Dubai’s history is an intriguing tale of a small fishing village transforming into one of the world’s most prosperous cities.

Photo Credit: Serg Zhukov 

Fishing Village

Dubai was once a small fishing village that was dependent on pearl diving and fishing for its livelihood. The first settlers arrived in the area around 4,000 years ago, and the village was established in the early 18th century. The village got its name from the Arabic word “daba” which means “to creep”. The name refers to the way in which the Dubai Creek creeps into the village.

Dubai remained a small fishing village until the 20th century when the discovery of oil transformed the economy. In 1966, oil was discovered in Dubai, and this led to a rapid economic boom. The revenue generated from oil exports was invested in infrastructure, and the city began to develop at an astonishing pace.

The Skyrocketing Growth of Dubai

One of the most significant events in Dubai’s history was the opening of the Dubai International Airport in 1960. This airport made Dubai an important transportation hub, and it helped to facilitate the growth of the city’s tourism industry.

Leadership

Dubai’s leadership also played a crucial role in the city’s transformation. In 1971, Dubai became one of the seven emirates that formed the United Arab Emirates. Sheikh Rashid bin Saeed Al Maktoum, who was the ruler of Dubai at the time, spearheaded many of the city’s development projects. He recognized the importance of diversifying the economy and invested heavily in infrastructure, healthcare, and education.

Recent Developments

One of the most iconic symbols of Dubai’s development is the Burj Khalifa, which is the tallest building in the world. The construction of the Burj Khalifa was completed in 2010, and it stands at an impressive height of 828 meters. The building is a testament to Dubai’s ambition and its willingness to push the boundaries of what is possible.

Dubai’s economy is now one of the most diverse in the world, with a strong focus on tourism, finance, and trade. The city is home to some of the world’s largest and most successful companies, and it attracts millions of visitors every year. Dubai’s leadership has also focused on promoting a strong sense of community and cultural heritage, which has helped to create a unique and vibrant city.

Conclusion

Dubai’s history is a fascinating story of a small fishing village transforming into a global city. The discovery of oil and the investment in infrastructure played a crucial role in the city’s development. However, it was the vision and leadership of Dubai’s rulers that truly transformed the city. Dubai’s success is a testament to its willingness to embrace change and its determination to succeed.

Read More about History Timeline about Dubai

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Dubai Businesses, Information

Diversify Your Income: The Best Passive Income Opportunities in Dubai

April 5, 2023 / by DCBAdmin

Passive income is the money earned without active involvement in the income-generating activity. Dubai, being a business hub, offers various opportunities for generating passive income. Let’s explore some of the passive income streams that you can consider in Dubai.

  1. Real Estate Investment

Dubai is a prime location for real estate investments. You can invest in properties that are likely to appreciate in value, generate rental income, or both. Dubai’s government has launched several initiatives to boost the real estate market, making it a stable investment option for generating passive income.

You can also invest in real estate through real estate investment trusts (REITs). REITs are trusts that own, operate, or finance income-generating real estate properties. Investing in REITs can provide you with a regular income stream without having to buy and manage the property yourself.

  1. Stock Market Investments

The Dubai Financial Market (DFM) and NASDAQ Dubai are the two major stock markets in Dubai. You can invest in stocks, mutual funds, or exchange-traded funds (ETFs) listed on these markets. Investing in the stock market can provide you with passive income through dividends and capital gains.

It’s important to conduct thorough research before investing in the stock market. You can use online trading platforms that offer easy access to stock markets and provide real-time data and analysis to make informed investment decisions.

  1. Peer-to-Peer Lending

Peer-to-peer lending platforms allow you to lend money to borrowers and earn interest on your investment. This can be a lucrative passive income stream, but it’s important to understand the risks involved. Peer-to-peer lending platforms in Dubai are regulated by the Dubai Financial Services Authority (DFSA), which ensures the safety and soundness of the platform.

  1. Online Courses and Digital Products

Creating and selling online courses or digital products, such as eBooks, can be a great way to generate passive income. With the increasing demand for online education and digital products, this passive income stream has become more popular in Dubai. You can use online platforms like Udemy, Skillshare, or Teachable to create and sell online courses. You can also sell digital products on e-commerce platforms like Amazon, Etsy, or your own website.

  1. Affiliate Marketing

Affiliate marketing involves promoting other companies’ products or services and earning a commission on sales generated through your unique referral link. Affiliate marketing is a popular passive income stream in Dubai, especially in the e-commerce industry. You can join affiliate programs offered by popular e-commerce platforms like Amazon, Noon, or Souq.com.

  1. Renting out Vehicles or Equipment

If you own vehicles or equipment that are not in constant use, you can consider renting them out to generate passive income. You can use online platforms like Avito, Dubizzle, or RentSher to rent out your vehicles or equipment.

  1. Investing in a Business

Investing in a business as a silent partner can be a source of passive income through profit sharing or dividends. Dubai’s business landscape offers various opportunities for investment, such as startups, small and medium-sized enterprises (SMEs), and established companies. You can invest in a business through crowdfunding platforms, angel investing networks, or venture capital firms.

In conclusion, Dubai offers various opportunities for generating passive income. It’s important to do thorough research and understand the risks involved before investing in any passive income stream. By diversifying your investments and utilizing online platforms, you can create a sustainable source of passive income in Dubai.

Photo Credit : lucas Favre 

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Information, Locations

Palm Jumeirah: An Engineering Marvel in the Heart of Dubai

March 5, 2023 / by DCBAdmin

Dubai is known for its stunning architecture and engineering marvels, but perhaps one of the most impressive structures in the city is the Palm Jumeirah.

Built in the early 2000s by Nakheel Properties, a Dubai-based real estate developer, the Palm Jumeirah is an artificial island in the shape of a palm tree that spans over 5 square kilometres and has a shoreline that stretches for over 70 kilometres. It is considered one of the largest man-made islands in the world and is a true engineering masterpiece.

To construct the Palm Jumeirah, the developers used a technique called dredging, which involved excavating around 94 million cubic meters of sand and rock from the sea bed and depositing them on the surface of the water. The materials were then shaped into the form of the island using GPS technology and other advanced equipment. The process took over 4 years and involved the work of around 40,000 workers.

One of the main challenges of building the Palm Jumeirah was the unique shape of the island. The island’s shape required extensive land reclamation, and the developers had to carefully design the breakwaters to protect the island from the strong currents of the Persian Gulf. The developers also had to ensure that the island was built to withstand the harsh climate of Dubai, which includes high temperatures, strong winds, and sandstorms.

The Palm Jumeirah is not just an island, but also a community. It is home to around 10,000 people and features a number of luxury resorts, hotels, and residential developments. One of the most famous hotels on the island is the Atlantis, The Palm, which features around 1,500 rooms and is known for its stunning aquariums and water park.

The island also features a number of entertainment options, including the Aquaventure Waterpark, which boasts a number of thrilling water rides, as well as the Lost Chambers Aquarium, which is home to over 65,000 marine animals. In addition, the Palm Jumeirah features a number of high-end restaurants and shopping destinations, making it a popular destination for tourists and residents alike.

Perhaps one of the most impressive features of the Palm Jumeirah is the monorail system that runs along the length of the island. The monorail is a fully automated, driverless system that transports passengers from one end of the island to the other. The system was built at a cost of around $400 million and is connected to the Dubai Metro system, providing easy access to the rest of the city.

In conclusion, the Palm Jumeirah is a remarkable engineering feat that showcases the ingenuity and innovation of the developers and engineers involved in its construction. With its stunning beaches, luxury resorts, and world-class entertainment options, the island has become a must-see destination for tourists from around the world. Whether you’re interested in engineering or simply looking for a unique vacation spot, the Palm Jumeirah is a destination that is sure to impress.

Photo Credit : Abid Bin Nazar

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Information

Discovering Dubai’s Secrets: How Oil, Tourism, and Innovation Built a Global City

March 4, 2023 / by DCBAdmin

Dubai’s development story is an inspiring one, filled with visionary leaders, daring entrepreneurs, and remarkable engineering feats. In this post, we’ll explore how Dubai became a global hub for commerce, tourism, and innovation, driven by oil, tourism, and innovation.

Oil and Gas – The Foundation of Dubai’s Development

Dubai’s journey towards becoming a global city began in the 1960s with the discovery of oil. The resulting revenue enabled the Emirate to invest in infrastructure, laying the foundation for future growth. Dubai’s government invested heavily in transportation, education, healthcare, and other key areas, which prepared the city to become a global hub for commerce and trade.

Tourism – A Key Driver of Dubai’s Economy

Dubai’s development received further momentum with the growth of its tourism industry. The city’s warm weather, beautiful beaches, and luxurious accommodations attract millions of visitors every year. To cater to the needs of tourists, Dubai invested in world-class hotels, shopping malls, and other attractions, making it a must-visit destination for tourists worldwide. Tourism has become one of the key drivers of Dubai’s economy, contributing significantly to its GDP.

Innovation – The Key to Dubai’s Future

Dubai’s development has also been fuelled by a commitment to innovation. The government has taken proactive steps to create an environment that fosters innovation and entrepreneurship. To this end, Dubai established free zones, such as the Dubai International Financial Centre (DIFC) and the Dubai Internet City (DIC), which provide incentives to businesses, including 100% ownership, no taxes, and streamlined processes. Additionally, Dubai launched initiatives such as Dubai Future Accelerators to attract innovative start-ups and established companies to the city.

Engineering Feats – Dubai’s Impressive Legacy

Dubai’s development has been marked by impressive engineering feats. The city boasts some of the tallest and most awe-inspiring buildings in the world, including the Burj Khalifa, the tallest building globally. The Palm Jumeirah, an artificial island shaped like a palm tree, is another example of Dubai’s engineering prowess. Additionally, Dubai invested in modern transportation infrastructure, such as the Dubai Metro, one of the most advanced metro systems globally.

Conclusion

In conclusion, Dubai’s development has been driven by a combination of factors, including oil and gas revenue, tourism, innovation, and remarkable engineering feats. Dubai’s visionary leaders and daring entrepreneurs worked tirelessly to create a modern, forward-thinking city. As Dubai’s development continues, the city is investing in new initiatives and infrastructure to maintain its position as a global hub for commerce and innovation.

Photo Credit: Eslah Saad

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Buy, Invest, Real Estate

Investing in Property in Dubai as an Expat: Opportunities and Considerations

March 4, 2023 / by DCBAdmin

Dubai is a city that offers many opportunities for expats to invest in property. As a global hub for business and tourism, Dubai’s property market has grown rapidly in recent years. Here are some of the opportunities and considerations for expats looking to buy property in Dubai as an investment.

Strong Returns on Investment:

Dubai’s property market has been known to offer strong returns on investment, especially in the long term. With a steady stream of expats, investors, and tourists, demand for rental properties in Dubai remains high, ensuring consistent rental income for property investors.

Off-Plan Properties:

Dubai offers a range of off-plan properties, which provide an excellent investment opportunity for expats. Off-plan properties are often sold at lower prices than completed properties, providing an opportunity for investors to get in on the ground floor and enjoy capital appreciation over time.

Sometimes, there is a certain level of risk associated with the option of investing in off-plan properties. This is due to the uncertainty of the real estate market, which may result in delays in the completion of the property or community. As a result, some investors may be hesitant to purchase off-plan properties. However, it is worth noting that prices are relatively low during the build stage, and as the project reaches completion, property prices tend to rise.

Despite the potential risks, the same uncertainty can also present an opportunity for savvy investors. They can purchase the property during the build stage and sell it for a higher price once the project is completed

Read More The Rise of Off-Plan Properties in Dubai: What You Need to Know
Favourable Tax Environment:

Dubai offers a favourable tax environment for property investors, with no property taxes and no capital gains tax. This makes it an attractive destination for expats looking to invest in property and minimize their tax obligations.

Experienced Real Estate Agents:

Dubai has a large and experienced real estate community, with many agents specializing in working with expat investors. These agents can provide valuable guidance and advice on the property market, the buying process, and any legal and administrative requirements.

Foreign Exchange Risks:

One consideration for expat investors in Dubai is foreign exchange risks. As many expats earn their income in a different currency than the dirham, they may be exposed to currency fluctuations that can impact their investment returns.

Conclusion:

Investing in property in Dubai as an expat can be a fantastic opportunity to generate strong returns on investment and enjoy the benefits of owning property in a thriving city. With a favorable tax environment, a growing property market, and experienced real estate agents, there are many opportunities available for expat investors. However, it is important to carefully consider the risks and opportunities associated with investing in property in Dubai, including foreign exchange risks and the potential for market volatility. By doing your research and seeking professional advice, expat investors can make informed decisions and maximize their returns on investment in Dubai’s vibrant property market.

Photo Credit: Christoph Schulz

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