overview of dubai - martin prosperity institutemartinprosperity.org/learn/dubai-slides.pdfoverview...
TRANSCRIPT
![Page 1: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/1.jpg)
Overview of Dubai
![Page 2: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/2.jpg)
![Page 3: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/3.jpg)
DChanChC
Progress in Dubai
![Page 4: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/4.jpg)
Modern Dubai
![Page 5: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/5.jpg)
Modern/Traditional Architecture
![Page 6: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/6.jpg)
![Page 7: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/7.jpg)
Boom Time: Pre-recession period
![Page 8: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/8.jpg)
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.
![Page 9: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/9.jpg)
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
![Page 10: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/10.jpg)
• 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
![Page 11: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/11.jpg)
• 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
![Page 12: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/12.jpg)
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
![Page 13: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/13.jpg)
• 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
![Page 14: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/14.jpg)
• 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
![Page 15: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/15.jpg)
Doom Time: Post-recession period
![Page 16: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/16.jpg)
• Dubai’s GDP growth till 2008
• Diminishing role of oil revenues
• Constant increase in loans from other states
• Government surplus converted to deficit
![Page 17: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/17.jpg)
• 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
![Page 18: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/18.jpg)
• 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
![Page 19: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/19.jpg)
Technology
• Automatic Fare System (Dubai Metro)
• Dubai Internet City
• Dubai Media City
![Page 20: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/20.jpg)
Dubai Versus Toronto (Can you really compare?)
![Page 21: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/21.jpg)
Talent
• Dubai Knowledge Village
• Dubai Harvard Foundation
• Dubai Sports City
![Page 22: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/22.jpg)
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?!?!?
![Page 23: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/23.jpg)
Tolerance
• Culture firmly connected to Islam
• Freedom of Religion
• Foreigners cant own a business alone
![Page 24: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/24.jpg)
Video (3D)
• http://www.pentominium.com/vt.html
![Page 25: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/25.jpg)
![Page 26: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/26.jpg)
![Page 27: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/27.jpg)
![Page 28: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/28.jpg)
![Page 29: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/29.jpg)
Project: Dubai Sports City
![Page 30: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/30.jpg)
• 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
![Page 31: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/31.jpg)
Project: Dubai Metro
![Page 32: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/32.jpg)
• 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.
![Page 33: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/33.jpg)
Dubai Int. Airport
• Major Aviation Hub
• Emirates Airline
![Page 34: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/34.jpg)
Expansion of Dubai’s International Airport
• Expansion of Concourse 3
• Purpose of Expansion
• Impact on Creative Eco.
![Page 35: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/35.jpg)
Pentominium • Unique Concept of
Pentominium
• Living In the Pentominium
• Purpose of the Pentominium
• Impact on Creative Economy
![Page 36: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/36.jpg)
• QUESTIONS!?! Don’t Be Shy or I shall start calling out NAMES!
![Page 37: Overview of Dubai - Martin Prosperity Institutemartinprosperity.org/learn/Dubai-slides.pdfOverview of Dubai . DChanChC Progress in Dubai . ... Oil is first discovered in Dubai at the](https://reader031.vdocuments.site/reader031/viewer/2022022516/5b01d9747f8b9af1148ec937/html5/thumbnails/37.jpg)
THANK YOU FOR LISTENING