Established
in 1971, the UAE is a constitutional federation of seven emirates: Abu Dhabi, Dubai, Sharjah,
Ajman, Umm al-Qaiwain, Ras al-Khaimah and Fujairah.
Located
on the south-eastern tip of the Arabian Peninsula, Qatar
lies to the west, Saudi Arabia
to the south and west, and Oman
to the north and east.
Although each of the emirates maintains a high degree of independence, the UAE is nationally governed by a Supreme Council of Rulers, made up of seven Rulers, who are responsible for electing the President and appointing the Prime Minister and the Cabinet.
Abu Dhabi is the capital city of the UAE and sits within the wealthy, vibrant emirate of the same name – the largest of the seven. The discovery and export of oil in Abu Dhabi from 1962 has dramatically transformed the society and economy of this emirate into one of the wealthiest in the Gulf. Recently the Emirate has embarked on a massive range of construction projects to equal Dubai. These include numerous residential and cultural facilities and even a fully integrated ‘green’ city. To the south lies Al Ain – an area also marked for major developments in the tourist and residential sectors.
Dubai is the second largest emirate. Its immense business sector, tourism industry and burgeoning financial sector, making it a bridge between East and West, have helped fuel its recent real estate boom; creating skyscrapers and ground-breaking construction and infrastructure projects so far unequalled on this planet – the Emirate is currently home to the world’s tallest building, Burj Dubai. This activity has been a major driver in making Dubai one of the most cosmopolitan and liberal of the United Arab Emirates. As a perfect tourist and expatriate destination, Dubai, and indeed much of the UAE, offers all the essential ingredients and more: sunshine, sand, sea, sports, tax-free shopping, top hotels, restaurants and an intriguing culture.
Ajman is the smallest of the emirates but was the second one, after Dubai, to offer freehold property to foreigners, attracting a huge number of investors to the emirate. Immense, government backed development projects are now underway to create ‘New Ajman’, a well-served, self sustaining business and residential conurbation just outside Ajman city centre. In terms of the sheer range of real estate projects on offer, Ajman is a market leader in the Northern Emirates.
Ras Al Khaimah is the most northern emirate and an important sea port, providing bulk and container services to the area. Keeping up with the other emirates, Ras Al Khaimah is also undergoing mega tourism projects, many of which should be complete by 2011. The launches of the RAK Media and Free Zones have also been a boon to the local residential market. With upgrades underway at the Ras Al Khaimah International Airport and as a member of the Open Skies Agreement, the airport offers a wide range of competitive flight options.
Sharjah is the third largest emirate in the UAE and the only one to have land on both the Persian Gulf and the Gulf of Oman. The Emirate has become a cost effective residential alternative to Dubai and is now developing major projects in its own right. However foreign ownership is still restricted. Sharjah is perhaps the most conservative of the emirates, forbidding the sale, possession of and consumption of alcohol, as well as keeping strict dress codes etc. It is famous as the cultural capital of the UAE and boasts the distinctive landmarks of two beautiful Islamic-designed covered souks.
Umm al-Qaiwain is the least populated of the seven emirates. Covering an area of 750m2, it is, however, now undergoing vast development projects to create residential and commercial facilities in brand new districts, all in a bid to help absorb the overflowing demand from Dubai for luxury tourist facilities. As a result, sales and rental costs here, as in the other Northern Emirates, have been rising dramatically.
Fujairah, located on a stunning beach strip on the Indian Ocean with the Hajer Mountains as a backdrop, is undergoing a large number of top end hotel and resort projects to cater for the massive influx of luxury tourists to this emirate.
Visas
Please consult your local UAE embassy prior to travel, as visa requirements can vary depending on your country of origin. Visit Visas are normally issued for 30 days and can be renewable depending on nationality.
Currency
United Arab Emirates Dirham (AED). The Dirham is currently pegged to the US$ at: U$1 = AED 3.67
