Who Is Dubai Owned By?
Dubai, the glittering metropolis in the United Arab Emirates, is known for its stunning architecture, luxurious lifestyle, and thriving business hub. But have you ever wondered who actually owns this magnificent city?
Let’s dive into the fascinating world of Dubai’s ownership and uncover the key players behind its success.
The Ruling Family – Al Maktoum
At the heart of Dubai’s ownership lies the ruling family of Al Maktoum. The Al Maktoum family has been leading Dubai since the 19th century and continues to play a significant role in shaping the city’s destiny.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and ruler of Dubai, is a prominent member of this influential family.
Under Sheikh Mohammed’s visionary leadership, Dubai has experienced unparalleled growth and development. His commitment to transforming Dubai into a global city has resulted in numerous ambitious projects such as Palm Jumeirah, Burj Khalifa (the tallest building in the world), and Dubai Marina.
Government-Owned Entities
Dubai’s government-owned entities also contribute significantly to its ownership structure. These entities serve as crucial drivers of economic growth and development for the city.
Dubai Holding
Dubai Holding is one such entity that plays a vital role in shaping Dubai’s economy. It is a diversified investment company focused on strategic sectors such as real estate, hospitality, telecommunications, media, and finance.
Underneath its umbrella are iconic subsidiaries like Jumeirah Group (luxury hotels), TECOM Group (business parks), and Dubai Properties Group (real estate).
Emirates Group
Emirates Group, another government-owned entity, is the parent company of Emirates Airlines, one of the world’s leading airlines. The group also includes dnata, a renowned aviation services provider.
With its headquarters at Dubai International Airport, Emirates Group contributes significantly to Dubai’s reputation as a global aviation hub.
Foreign Investment
Dubai has always welcomed foreign investment, making it an attractive destination for international businesses and investors. Foreign individuals and companies have made substantial contributions to Dubai’s ownership landscape.
Many iconic landmarks in Dubai are owned by foreign entities. For instance, the Burj Al Arab, often referred to as the world’s only seven-star hotel, is owned by Jumeirah Group under Dubai Holding.
Similarly, Emaar Properties, a real estate giant responsible for creating landmarks like Burj Khalifa and The Dubai Mall, has significant foreign investment.
Conclusion
In conclusion, while Dubai’s ownership is primarily held by the ruling Al Maktoum family and government-owned entities like Dubai Holding and Emirates Group, it also welcomes foreign investment with open arms. This unique combination of local leadership and international collaboration has propelled Dubai into becoming a global powerhouse and a symbol of modernity and ambition.
Intriguingly owned by both its local leaders and international investors alike, this city continues to captivate the world with its remarkable achievements.