Not called the Middle East for nothing, Dubai boasts a booming financial hub and growing expat community in a location central to influential world markets.
A common misconception among expats with intentions of relocating to Dubai is that the oil industry’s prominence in the Middle East will be the epicenter of this desert metropolis. Much to the contrary, many expats settling down in Dubai are doing so at a time when the city strives to become the premier financial hub between London and Hong Kong.
“The one with oil is Abu Dhabi, which is next door,” says Daniel Rankin, a lawyer specializing in corporate and financial law, who, with his wife, moved from their home in the outskirts of Toronto to Dubai a little more than two years ago. “While Dubai itself doesn’t have a lot of oil, what it is aiming to be is the investment hub of the region and that money comes from oil.”
Rankin notes that Dubai was one of the first places in the Middle East to set aside areas where expats could buy. “All the infrastructure is in place to find housing, that is easier than ever,” Rankin says, and notes that the cultural aspects of Dubai are not necessarily as many would assume. “Islamic culture is the dominant culture here, so there are a lot of mosques and you’ll see people in various states of traditional dress. However, Dubai is a very secular place for the Middle East, so [the culture] colors the place but it doesn’t dominate it.”
“Both my wife and I have people calling us on a very regular basis asking what it’s like to move here and a number of them have moved here,” Rankin says. “Dubai is built for expats. It’s built for people to come here.”
Where to Live
While a myriad of residential options afford wealthy expats the ability to live affluently in the desert, Jumeirah Lakes Towers and the man-made island of The Palm entertain large expat populations.
For expats in search of lofty living, Jumeirah Lakes Towers is one of the newest high-rise developments in Dubai. Composed of 87 towers, the development incorporates residential, retail, office and leisure components with the height of luxury in mind. The towers weave around and highlight views of the property’s four man-made lakes.
For ocean-seeking expats, The Palm is the ideal place to dock. With several collections including marina residences and a Trump International Hotel complete with a residential tower, the main appeal of the project are the miles of coastline the man-made islands add to the country.
Where to Visit
If purchasing on The Palm is part of the agenda, then staying on the island is a must during your home search. Opened in September 2008, the Atlantis is located at the top of The Palm and offers above par accommodations even in some of the 1,539-room hotel’s underwater suites. The Lost Chamber suites feature bedroom and bath views of an underwater lagoon and a private butler is also included.
A visit to Dubai would not be complete without a stop at the iconic Burj Al Arab. The ornate design of the hotel, which was built to resemble a blowing sail, is the framework for the elaborate accommodations made up of duplex suites. Although pricey, (fetching several thousands of dollars per night), the Burj Al Arab is the epitome of the over-the-top Dubai lifestyle.
At a Glance
Who Lives There: Expats from several prosperous industries, with an emphasis on finance.
Major Airport: Dubai International Airport and the currently under-construction Al Maktoum International Airport. Biggest Industries: Tourism and finance.
To Learn More: www.dubaitourism.ae; Dubai’s Department of Tourism and Commerce Marketing. www.jumeirahlaketowers.ae, www.palmjumeirah.ae, www.atlantisthepalm.com, www.burj-al-arab.com.
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