Dubai is $MONEY
Never have I seen development to the scale of such absurdity before. Dubai, today in Jan 2008, is Money.

Singapore built Raffles Hotel at the Wafi Center
Over the New Year holiday, I flew out to Dubai with Victoria who came out to meet me from Los Angeles. I wanted to show her some of the Arab world had to show for, the glitz, the glamour, and the endless extravagance just waiting for your indulgence. For those of you who doubt the powers of fast money in the Middle East, be doubtful no more. Dubai is only one example of how economic growth and prosperity has quickly modernized a world outside your conventional frame of reference. This city has really only come of age in less than a decade, and already it’s fighting to become the region’s financial and trade hub. Do not underestimate the influence of petrodollars invested wisely. Eventually, it won’t just be Dubai Ports World buying out your local port, but it will be other symbols of Middle East that come buying out your whole town.

The Burj Dubai, UAE’s tallest building is still under construction.
Because of doubt, self-preoccupation, and a variety of other forces the average American has no idea what’s happening on the other side of the world. Dubai, in particular, has benefited largely from the discovery of oil and gas resources years ago and has exploited opportunities to diversify itself into a global commercial powerhouse. Where is Dubai? On the Arabian Peninsula, along the Persian Gulf. Slowly, people in the “civilized” Western world have come to realize that Dubai is one hell of a place. From Naomi Campbell to DJ Carl Cox, the place is coming onto the world scene. But not like you care anyway. It’s just another place somewhere out there that has no bearing on your life…yet.

Ever seen a McArabia sandwich?
For now, UAE’s Dubai is making its name with world records. The world’s largest mall, world’s largest man-made island chain, first ski resort in the desert, etc. You wonder how they can bring to life such machinations. In the meantime, it took lots of money (of course) as well as lots of foreign labor and technical expertise. Thus, Dubai has had no choice but to become a multi-cultural, intelligent, and relatively liberal city. With all of its global influences I’d guess that this is the most cosmopolitan city in the region.

Burj Al Arab – the only 7-star hotel in the world.

Yes, even an artificial ski resort in the desert.
Extravagance is the name of the game here. I liken it to the materialism of Los Angeles, mixed with the artificial veneer of Las Vegas… all made possible by Arab oil money and the restlessness of extreme wealth.

Buy a house at The World Dubai, but you need a boat just to get to that house.
I’d recommend a trip out to Dubai if you’re ever in the region, although it’s a little expensive. Because of the recent breakneck development, limited development space, and exchange rate rigidities Dubai has become an expensive place. It wasn’t always this way (I remember things being much more affordable only 2 yrs ago), but it is what is…come find out this place for yourself!
