Dubai 2020 Urban Masterplan - Government of Dubai | Dubai ...
Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview...
Transcript of Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview...
Overview of Dubai
DChanChC
Progress in Dubai
Modern Dubai
Modern/Traditional Architecture
Boom Time: Pre-recession period
Initial economic gains from Oil: History and Timeline
• 1966: Oil is first discovered in Dubai at the Fateh field
• 1969: Dubai starts to export oil. The first export shipment of oil was180 thousand barrels
• 1972: Oil drilling exploration wells begin at Falah. Production begins June 1978
• 1973: New oil field discovered at Rashid and production begins March 1979
• 1982: Another oil field discovered at Margham, production started in 1984.
• 1999: Government owned, Emirates National Oil Company (ENOC) opens first oil refinery
• 2007: Dubai Petroleum assumes control of all oil and gas related projects in Dubai, following negotiations with international oil companies.
Economic gains from Construction and Real Estate industry
• 1901: Sheikh Maktoum Bin Rashid Al Maktoum established Dubai as a fee port • 1959: Construction of Dubai airport completed • 1960: Port Rashid construction • 1972: Jebel Ali port completed • 1974: Dubai Trade Center and Dubai Dry Docks • 1996: Burj Al Arab hotel • 1998: Emirates Towers • 2002: Creation of freehold property rights in Dubai which triggered the real estate
Boom. • 2002: Emaar Properties
1. 2002: Meadows Villas created 2. 2004: The Spings 3. 2006: Arabian Ranches
• 2002: Nakheel Properties 1. The Palm Jumeirah Islands created 2. The Palm Jebel Ali 3. Dubai Marina
• 2008: Burj Dubai
• Shows where the investment is coming from
• Real estate units sold are skewed towards the expat population (80%)
• Shows the number of real estate transaction done
• Compares different countries within GCC and shows UAE’s superiority
• SWOT analysis: shows viability of real estate sector
• Strengths and Opportunities out weigh Weaknesses and Threats which suggests that investing in real estate of Dubai is most likely to be profitable.
• Supply side bottlenecks have kept the demand-supply gap intact leading to high price
Tourism: Economic Gains
• Relatively young industry • Basic facilities for travellers in place
starting 1959
• Upward trajectory of tourist arrivals till 2008
• Upward trajectory of capital investment in infrastructure till 2008
• Increasing investment in infrastructure caused more tourism
• Dubai has more retail space than any other GCC country
• Space mostly occupied by prominent global brands
• These retail centers also have
indoor ski slopes, aquariums and skydiving
• 80% visitors come to shop and only 53% come to visit heritage sights
• Real estate along with finance clusters drove development of hotels
• Use of 5 star hotels shows lavish spending of vistors
• Clear upward trajectory of visitors to Dubai till 2008
• Dubai’s tourism from foreign transit passengers reduced after economic crisis
• Reduction in tourism from Western countries shows reduction in the spending on leisure activities
• Reduction in the flights going through Dubai also reduced
• Dubai’s (comparatively) liberal policies, still attract large numbers of GCC tourists
Doom Time: Post-recession period
• Dubai’s GDP growth till 2008
• Diminishing role of oil revenues
• Constant increase in loans from other states
• Government surplus converted to deficit
• Dip in the hospitality business indicates reduction in tourism
• Some progress made since recession in 2010
• Overall reduction in the projects announced, started and completed throughout the time period
• Large number of projects canalled and put on hold after the economic crisis
• half of construction projects have been put on hold or cancelled, leaving half-built towers on the outskirts of the city
• Residential sector is hardest hit by economic crisis followed by commercial sector
Technology
• Automatic Fare System (Dubai Metro)
• Dubai Internet City
• Dubai Media City
Dubai Versus Toronto (Can you really compare?)
Talent
• Dubai Knowledge Village
• Dubai Harvard Foundation
• Dubai Sports City
Question Time! Stop Sleeping
• Why do you think majority of Dubai’s constructions end up with the word “City” or “Village”? What kind of Image is Dubai trying to create with this wording?!?!?
Tolerance
• Culture firmly connected to Islam
• Freedom of Religion
• Foreigners cant own a business alone
Video (3D)
• http://www.pentominium.com/vt.html
Project: Dubai Sports City
• Completed in 2011, but still expanding
• Projection worth $4 Billion
• 5 major sport venues: 1. 2 out door multi purpose stadiums; 60,000 capacity 2. 1 field hockey stadium; 5,000 capacity 3. 1 cricket stadium; 25,000 capacity 4. The Els golf course
• Goal of project to create a world class sporting infrastructure in Dubai and making it
a destination for the sporting world of cricket, football, field hockey and golf
• Improve economy by hosting popular games and attracting visitors
• Boosting local economy by creating jobs, selling tickets and tax revenues
• Will help develop new sporting talent
Project: Dubai Metro
• Launched September 2009
• Cheap and accessible
• Project cost 7.6 Billion dollars
• So far 2 railway tracks built (Green and Red), 2 still to be completed
• Green lined: 8 underground stations, 12 elevated stations. Covers a distance of 8 Km underground and 15 Km above ground. Complete length of time for green line is 36 minutes.
• Red line: 29 stations, 4 underground and 25 above ground.
• Goal of project is to connect every corner of Dubai and rid the city from traffic congestion. Likely to strengthen Dubai’s economy.
• Improved transportation will attract more visitors which will boost tourism economy.
Dubai Int. Airport
• Major Aviation Hub
• Emirates Airline
Expansion of Dubai’s International Airport
• Expansion of Concourse 3
• Purpose of Expansion
• Impact on Creative Eco.
Pentominium • Unique Concept of
Pentominium
• Living In the Pentominium
• Purpose of the Pentominium
• Impact on Creative Economy
• QUESTIONS!?! Don’t Be Shy or I shall start calling out NAMES!
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