Dubai has always been a building site, but there are more large projects under construction now than ever before. This is a city in transition to a bigger future.
Construction in Dubai and the UAE in general is a much faster process than in any other Western country so there is lot of opportunity for the construction jobs in Dubai. There are lot of jobs for the labours then engineers and architectures. This is partly because Dubai construction companies hire more labours for a given job than is typical in the West.
Since 2000,
Dubai's municipality has initiated a plethora of construction phases
and plans across the entire city of Dubai, predominantly in the
Mina Seyahi area, located further from Jumeirah,
towards Jebel Ali.
Dubai houses 16% of the world's cranes. Construction
in Dubai and the UAE in general is a much faster process than in
any Western country. This is partly due to the fact that labourers
from Indian subcontinent accept lower wages than those from other
countries.
One of the main reasons
for the boom in construction in Dubai is its drive to diversify
the economy. The Dubai government does not want to depend
on its oil reserves which are largely believed to become exhausted
by 2010 and, as such, has diversified its economy to attract
revenues in the form of expanding commercial and corporate activity.
Tourism is also being promoted at a staggering rate with the construction
of Dubailand and other projects that include the making
of mammoth shopping
malls,
theme parks, resorts, stadiums and other various tourist Attractions.
One of the other reasons for the boom in construction is the recent
reversal of a law in 2002 that allows non-nationals of the UAE to
own property (not land) in Dubai (albeit freehold and 99 year leases
are actually sold to people with ownership still remaining with
private companies).
The larger of the property tycoons are Al Nakheel
and Emaar Properties. In Dubai, demand is currently outstripping
supply by a significant margin and is showing no signs of slowing
in the near future. Rents have also skyrocketed with the recent
inflow of professionals and companies from around the world who
are attracted by Dubai's no-tax benefits although rises have been
capped to 15% per annum up to 2006 under a directive from Sheikh
Mohammad.
This cap demonstrates the realisation that uncontrolled
rents can hamper development. Legislation in this area is still
sketchy as the property market is a new one and rights of tenants
and landowners are based on shaky principles borrowed mainly from
European law. Most contracts and tenancy agreements do not stand
up to the standards of international law and almost always grossly
favour the lessor or the company selling property.
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