The Dubai way of life did not always center on oil and its profits. Dubai was originally a fishing settlement. Inhabitants lived by fishing, pearling, herding sheep and goats, and by the turn of the century was an important trading port. Trade expanded even as Dubai was under the British protectorate, and Dubai began to grow in merchant appeal. By the early 1900s, almost a quarter of the population was foreign. The population in the 1930s was 20,000, and of that, 2,000 were Persians, 1,000 Baluchis, many Indians and substantial communities from Bahrain, Kuwait and the Hasa province in eastern South Arabia. In 1954, the British established a political agency there as well.
In 1971, the British withdrew and Dubai joined with Abu Dhabi, Sharjah, Aiman, Umm Al Quwain, Fajairah and later Ras Al Khaimah to create the federation of the United Arab Emirates. Oil was discovered in 1966 and by 1969 Dubai exported its first shipment of oil. The success of this venture fueled the rapid development of the area and through the insight of the late ruler provided for the general welfare of the inhabitants. Dubai worked to build up its nfrastructure of transport facilities, schools, hospitals, tourism developments and other amenities of an advanced society. The journey continues today.

Historical Time-Line Leading To The Rise Of Dubai:
• 1830: The small fishing settlement of Dubai is taken over by a segment of the Bani Yas tribe from the Liwa Oasis, led by the Maktoum family who still, interestingly, rule the emirate today.
• 1892: Foreign traders are drawn into Dubai due to the declaration that they will be exempt from tax, the population doubles and the pearling industry is now booming.
• 1930-1940: The recession hits Dubai’s pearl industry which falls into decline leading to social pressures and feuds between the royals.
• 1958: Sheikh Rashid officially becomes the ruler of Dubai after his father’s death.
• 1959: The Emir of Kuwait lends Sheik Rahid millions of dollars to renovate the Creek so it can accommodate large ships in order to develop Dubai’s reputation as being a major trading hub.
• 1966: Dubai discovers its own oil, attracting traders to settle in Dubai which in turn enhances economic growth.
• 1968: Dubai begins exporting crude oil and petro-dollars rush in.
• 1973: The Dirham becomes the official unit of currency in Dubai.
• 1985: The Emirates airline is established and Dubai plans its reinvention as a tourist destination.
• 1990: Sheik Maktoum takes over as the ruler of Dubai, due to his father, Sheik Rashid, passing away during the first Gulf War.
• 1996: The Dubai shopping festival and the Dubai World Cup are launched and happen to become very popular annual events.
• 1999: One of the tallest hotels in the world, the Burj Al Arab opens, enhancing Dubai’s reputation further as a tourist destination.
• 2003: Dubai is recognised by The International Monetary Fund and the World Bank, as a financial hub. Also, at this time the property market in Dubai suddenly grows due to the introduction of freehold properties.
• 2006: Sheik Mohammed becomes the Prime Minister and Vice President of the UAE, as well as the ruler of Dubai. He updates the Liberal policies of his Maktoum forefathers and develops Dubai further, raising the city’s business profile. 

Story:
Dubai’s largest state corporation with $60 billion in debt announced on November 24 ,2009 that it was unable to meet its financial commitments. Just a fortnight before, the resplendently named General His Highness Sheikh Mohammed Bin Rashid Al-Maktoum, ruler of this mini-me fiefdom, had berated his critics, ordering them to “shut up”.
How did the Big-is-Best Dubai, that Aladdin’s cave of endless wealth, turn into Big-is-Bust?
For decades, Dubai just about survived. Then the pearl market crashed in the1930s, triggering famine. People survived on lizards and locusts.
Dubai needed leadership, a talent its ruler Sheikh Saeed lacked. The population grew restive. Saeed’s cousins plotted to kill him. Saeed’s son, Rashid, solved the problem; he put the rebels to death and assumed power himself.Rashid took over a village nation mired in the Middle Ages. Even in 1960, there was no electricity, no roads, no bridges, no running water, and no telephones. “Dubai was an empty palette. He was going to start painting”.
The discovery of oil in 1966 transformed Dubai’s fortunes. But Rashid was a visionary, looking ahead to a time when the oil ran dry. He invested massively in infrastructure projects, playing to Dubai’s one strength – its geographical position as a hub between Europe and Asia. Rashid built ports. He commissioned Dubai Aluminum, now the world’s largest smelter. He built a world-class airport. “The more Sheikh Rashid poured into ports, industry and airports, the faster the economy grew. State spending triggered a larger torrent of private investment.” Smuggling of gold, weaponry and drugs was elevated to an art form; Dubai’s “whole economic function was aimed at evading the rules and regulations of other countries in the region”. This twin strategy worked in spades. By Rashid’s death in 1990, Dubai was the region’s pre-eminent City-State.
But while Rashid focused on infrastructure, his son Mohammed, who took over after a brief interregnum, embarked on an orgy of vanity building. Rashid encouraged participation; Mohammed appeared to run Dubai as a sole proprietorship. Krane’s account of the building of the Burj Al-Arab, the world’s first 7-star hotel, is revealing. Mohammed wanted the ultimate statement hotel. The architects obliged with a fantastical concept. Mohammed took one look at it, “Build it,” he ordered.
Mohammed wanted more: the world’s tallest building, the biggest shopping mall, the largest man-made island, the biggest indoor skiing facility. Name the most grotesque architectural fantasy, Dubai has it.
The world flocked to Dubai. In 1985, Dubai attracted 400,000 tourists. By 2008, 7.3 million came, more than to Australia or India. The resident population also exploded, targeted to reach 2.5 million by 2010. And why not? In the heart of Muslim Arabia, Dubai is awash with luxury hotels, liquor, prostitutes, beaches and cheap labour.Never mind that the Emirates became a tiny minority within their own country. They get rich pickings; pesky expatriates are rapidly deported. Who cares if the Indian labourers who built Dubai, “the lever that has raised Dubai from the sands”, live in conditions of medieval squalor? “Dubai hides them from view”.And Dubai Inc kept spending, embarking on a bacchanalian feast of investments abroad, from MGM to the London Eye, Antwerp Port to the NASDAQ. All these assets required financing. As its oil ran out, Dubai gorged on debt to finance them.
For years without pause, Dubai defied the laws of nature, building islands in the ocean, golf courses in the desert. But it couldn’t defy the laws of economics. Its boom was built on unsustainable debt. When the global recession struck, the boom went bust. Ultimately, Dubai’s bankers will rally around. They have to. The full extent of what Dubai owes them is opaque, but gigantic. Big brother Abu Dhabi will chortle at their humiliation. It will cherry-pick Dubai’s assets, then rescue them. It has to, or Dubai will continue dragging the UAE’s reputation through the gutter. Dubai will survive, but without the swagger. It is a cautionary tale.
Dubai is considered to be an enviable real estate place in the world. Dubai is the fastest growing city in the world. Dubai is rated as a very safe place to reside. Dubai is actually very strategically located and is not too far from Europe, Asia or Africa. Dubai is earning the title as a tourists’ city of the world. This is evident in the numbers itself. The number of visitors to Dubai has grown from 1.8 million to 5.4 million in the past decade.
Dubai is a place where the East meets West. Dubai is cultivating the perfect marriage of its own traditional approach fused with western capitalistic interests and thus making Dubai a great economic force.

 

Dubai Is Most Definitely A Home To Many Firsts:
• It has one of the biggest airports in the world
• The largest man made port in the world is in Dubai
• The largest mall in the world is situated here
• The only 7 star hotel in the world is located in Dubai
• The largest theme parks in the world and is estimated to be bigger than Disney parks in Florida.
• The largest skyscraper in the world
• Palm Jumeirah the first man made palm-shaped man made island
• Dubai is a tax free haven. Expats who come here on a job have discovered that there is something for everybody in this beautiful city. The city has many dining spots serving different cuisines, cafes, theaters, multiplexes, pubs, clubs, malls etc. Also there are a myriad of entertainment options to choose from.
• The education system is good and systematic. The job and business opportunities are ever increasing in Dubai. The real estate scene is also growing tremendously. Dubai’s great big success story as a world leader in enterprise and modernization has earned the city international level rave reviews and this has established Dubai as a leading commercial, trading, housing and tourists’ hub. Dubai is a dynamic, business-friendly city with an outstanding track record which is evident in the different projects undertaken. And all this is due to its great visionary leaders.

Mohammed Bin Rashid Al- Maktoum:
He is the third of Sheikh Rashid bin Saeed Al Maktoum’s four sons (members of Dubai’s ruling family Al Maktoum and descendants of the House of Al-Falasi, of which he is the tribal leader[2]). From the age of four, Sheikh Mohammed was privately tutored in Arabic and Islamic Studies. His senior wife is Sheikha Hind bint Maktoum bin Juma Al Maktoum, whom he married in 1979. His junior wife is HRH Princess Haya bint Al Hussein, daughter of King Hussein of Jordan and half-sister of current King Abdullah II of Jordan, whom he married on April 10, 2004, and has one child, a daughter, Alia, born December 2, 2007. Sheikh Mohammed has 17 children: seven sons and ten daughters.

 

Mohammed bin Rashid Al-Maktoum has been known for his vast charitable donations. On May 19, 2007, he announced plans to give $10bn USD to set up an educational foundation in the Middle East; one of the largest charitable donations in history.[6] Sheikh Mohammed stated that the money is meant to bridge the knowledge gap between the Arab region and the developed world, improving the standard of education and research in the region, developing leadership programs for youth, and stimulating job creation. The announcement was made at the 2007 World Economic Forum in Jordan.

 

On January 3, 1995, Sheikh Maktoum bin Rashid Al Maktoum signed two decrees that appointed Sheikh Mohammed as Crown Prince of Dubai. Sheikh Mohammed oversaw the development of numerous projects in Dubai including the creation of the Palm Islands and the luxury Burj al-Arab hotel. He is also promoting the construction of Burj Dubai which is now the tallest building in the world. During his time as Crown Prince he set up Dubai Holding, a holding company with multi-diversified businesses and investments. He currently owns 99.67% of the company.

 

My Vision – Challenges in the Race for Excellence is a book co-authored by Mohammed bin Rashid Al Maktoum, ruler of Dubai and Vice-President of the United Arab Emirates, and Adel Bishtawi, Palestinian biographer and author. It was first published, in Arabic, in April 2006.
The book consists of 13 chapters and is divided into five key sections. The book tries to put in writing the vision and philosophy behind which the current economic boom of Dubai and the United Arab Emirates is based. It focuses on providing a pathway for the Arab nations to come together and become an effective central region of the world.