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The History of Dubai
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The history of Dubai during the 18th century was that the country was inhabited by Bani Yas tribe who were mainly fishermen. They earned their living from the sea, and were not only involved in fishing, but also in pearl and marine trade. The ports and markets of Dubai started prospering and this attracted inhabitants from India, Baluchistan and Iran. |
Now instead of the historical villages, resorts and country houses have come up serving as perfect getaways for holidays. It is with the vision of Late Sheikh Zayed and Sheikh Maktoum that Dubai is what it is today; a regional economic powerhouse and a world class city.
The area had been covered with sand about 5,000 years ago and the coastline had retreated inward, creating part of the city-s coastline. On 2 December 1971 Dubai, together with Abu Dhabi and five other emirates, formed the United Arab Emirates after Britain left the Persian Gulf. Since Dubai’s one fourth population was composed of migrants from various places, global trade and commerce was made possible.
The Persian Gulf War of 1990 had a huge impact on the city that brought changes in Dubai history Dubai banks experienced a massive withdrawal of funds due to uncertain political conditions in the region. Many foreign trading communities – Kuwait and Bahrain moved their business to Dubai. Dubai provided refueling bases to allied forces at the Jebel Ali free zone during the Persian Gulf War. The success of the Jebel Ali free zone allowed the city to replicate its model to develop clusters of new free zones, including Dubai Internet City, Dubai Media City and Dubai Maritime city. The construction of Burj Al Arab, the worlds largest freestanding, as well as the creation of new residential development, has been used to market Dubai for purposes of tourism.
Major changes in the history of Dubai
Since 2002, the city has seen an increase in private real investment in recreating Dubai’s skyline with projects as the Palm Islands and Burj Dubai. However, robust economic growth in recent years has been accompanied by rising inflation rates, which is attributed, impart due to the near doubling of commercial and residential rental costs, resulting in a substantial increase in the cost of living for residents. It was the production of oil that led Dubai to take a giant leap in terms of development and prosperity. The production of oil in 1960 was the major landmark in the history of dubai.
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