The story of Dubai's success began at a time when the emirate has been actively exporting refined petroleum products and crude oil in the form of very raw. After the death of Sheikh Rashid in 1990, it has a thriving metropolis, now numbering 1.8 people, received the Sheikh Maktoum bin Rashid Al Maktoum. Industry (including smelting of aluminum), the economy and trade (re-export, trade in gold) in the modern Dubai for a long time recorded high rates of growth also thanks to the free trade zones in Dubai Airport and Jabal Ali (with a giant port). Countries such as Saudi Arabia, Iraq, and Iran, using modern Dubai for its trade and financial transactions as a service center. Since oil and gas are suitable for Dubai exhaustion at 7.5 million. Visitors per year rate very well made and on tourism, under the guise of which in 1999 was built in the form of open sail 312-meter super-luxury hotel Burj Al Arab. Dubai company «Emirates Airlines» is growing incredibly fast and has ordered 122 Airbus huge type A380. Thus, one can predict that the subsequent history of Dubai will be no less successful in economic terms. The driving force behind this development was and is a brother who died in 2006, the ruler Sheikh Maktoum, the current emir, Sheikh Mohammed bin Rashid Al Maktoum. He was a visionary, like his father, but in 2009 the lack of money slowed down the pace of implementation of some ambitious projects. Meanwhile, the situation in Dubai, feeling a little recovered from a severe financial crisis in recent years, and some projects have been at least partially completed.
Being one of the most fast-growing existing megacities, Dubai attracts a large number of qualified professionals from around the world. The favorable geographical location of the city is constantly supported both by the state and municipalities, economic development and infrastructure improvement strategy make the city an ideal base for the establishment of a system of international markets in Central Asia, the Middle East, Africa and the Asian sub-continent (Schulte-Peevers, 2010). At high rates of growth and development of the city, Dubai retains its original function of the most important commercial port. Currently, the city is a major focus point of international traffic of both marine and air. The constant circulation of the foreign population animates the city. Most professionals working in the service sector, are not citizens of the United Arab Emirates. All of this allows us to consider Dubai's largest port center of modernity, the city is a complex, flexible dynamic urban model. In the modern world such as Dubai pockets of activity are "in terms of salvation" in which large groups rush of the foreign population, with different goals and intentions. What naturally relates to the situation where during a storm at sea sailors rushed to the port of salvation for them, which has become a symbol of the lighthouse. Similarly, a lot of skilled professionals in our time are saved in Dubai. The proposed project is an illustration of the idea of a high-rise structure symbolizing a beacon. This bears a bright sign above described meaning, and represents the city as a stable and growing, preserving its historic identity and constantly modernizing the system, so saving and attractive in turbulent conditions of our time (Dubai's Strengths in Infrastructure and Connectivity Discussed, 2013).
Looking at modern Dubai, it is practically impossible to imagine that only 10 years ago its image was totally different. For last ten years, the city went through the striking transformation. The highest and most modern skyscrapers have been erected and world famous sights have appeared. Among such are the highest building in the world called Burj Khalifa and coastal areas of Dubai Marina and Jumeirah Beach Residence which are popular among visitors and residents of the city. Of course, the list of Dubai’s impressive sights is not limited to only these ones. According to the Head of Transport Management of Dubai, for last ten years more than $21 billion was spent for development of the transport infrastructure alone whereby nowadays Dubai has the most functional and developed system of roads and transport. To keep up with the rapid pace of growth in the tourism and hospitality industry, Dubai is making every effort to develop its infrastructure, and the measures taken are of great importance for investors in real estate.
The new Dubai Marina area of the city has settled the first inhabitants, have opened cafes and strolling the streets. And an ambitious project «Dubailand» which is the same giant entertainment complex project, which originally was supposed to be two times larger than its preimage in Florida at least returned to the stage of the planned work (Bellini & Daglio, 2013). The city has its dark sides, and not only in regard to the situation of Asian foreign workers. Exhaust gasses are outdated incinerators and waste of nearly a million vehicles on the streets of Dubai with constant congestion in adverse weather conditions cause the appearance of severe smog. Therefore, in 2008 the City Council members have implemented a comprehensive environmental programs: the new administrative order "a la Singapore" should take care of the cleanliness of the streets, the brand new buses «MAN» and a limited lifespan for cars should improve the air of the city. In the same direction the replacement of obsolete water taxi "Abra" on modern boats.
It is easy to imagine how huge the influx of tourists, businessmen and investors is expected in Dubai in connection with the World Expo 2020. Buying a business in Dubai and investing in individual sectors of its economy have been extremely attractive for those interested in doing business in Dubai (Milne, 2014). As the pace of preparation of the city to conduct the exhibition is growing, it is the issue of great importance for Dubai’s government to provide appropriate infrastructure. The event is expected to attract a huge number of investors interested in acquiring real estate and generally in investing in the construction industry.Currently underway in the emirate and the construction of the channel Dubai Water Canal, which, according to preliminary estimates, will be completed by October 2016 channel length of 3.2 km will connect the district Business Bay District, often called the heart of Dubai, on the Persian Gulf, that will in the emirate of several new tourist attractions. Construction of the canal will be implemented in three stages, in the course of new transport interchanges through the construction of additional bridges each of which will be created (Davidson, 2008). So, for the moment, in addition to the excavation on the future site of the channel, work is underway on the construction of bridges over the canal, extending from Sheikh Zayed Road and Jumeirah highways and Al Wasl Road. In addition, the project will create a new sandy beach, five berths for water transport, luxury hotels, promenades, bike paths, shops and quality restaurants. According to representatives of the Office of roads and transport in Dubai, construction of the canal will lead to a substantial increase in the number of water taxis and other types of water transport in the emirate. To date, this type of public transport is one of the most important for Dubai is reported that it is used by about 13 million people each year. One of the most important factors supporting the economic growth of Dubai and ask him to new heights is an unrivaled level of development of aviation in the city. Dubai, being a famous world traveler in the first place on the international Dubai International Airport, intends to accelerate the development of a second airport, Al Maktoum International, so that their aggregate bandwidth, as a result, reached 240 million people annually.
It is planned that during the expansion of Al Maktoum International its capacity will reach 120 million passengers within 6-8 years. the modernization of the airport plan, the cost of implementation of which is $ 32 billion was approved by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, in September 2014 (“UAE: Dubai – Middle East Infrastructure Development Conference to Go Ahead”, 2014). It is reported that this is the largest project in the world related to the reconstruction of airports. Al Maktoum International Airport, which opened for the first time passenger traffic in October 2013, currently can receive 5 million tourists a year. In the first stage of modernization of the two new buildings with a capacity of 120 million passengers per year will be built (Foster, 2016). The second stage envisages the construction of two new runways and hangars for planes. It is expected that this phase will be completed in time for the beginning of the exhibition Expo 2020. During the third and final stage involves the construction of five parallel runways that can run simultaneously, and the creation of a sufficient number of hangars for simultaneous placement of 100 double-deck aircraft Airbus 380. By this time, the average capacity of the airport is expected to reach 220 million passengers.
The capacity of Dubai International Airport at the present moment is about 80 million passengers. This figure will increase to 90 million after soon be completed construction of a new terminal at the airport. It is worth noting that the average annual growth in the number of passengers passing through Dubai International, up to 15% because of that the airport received the status of the busiest international airport in the world, beating the world-famous London Heathrow. The modernization of the second airport works will lead to the creation of the Emirate of about 20 000 new jobs in the construction industry, as well as stimulate the emergence of related infrastructure, in particular, the hotel real estate, housing and public transport networks. Thus, the renovation of the airport will be a catalyst for economic growth in the city (Shannon & Smets, 2010).
In 2009, Rashid Al Maktoum cut the ceremonial ribbon symbolizing the opening of the latest achievements in the field of unloading traffic – Dubai Metro. True, at first for the local population, it was a rather amusing attraction rather than a serious means of transport. Meanwhile, after the Red Line and completed the construction of the green metro line, they both contribute to unload the crowded streets, and it is hoped that by 2020 will be able to increase the network of lines to four, and bring to a total length of 300 km. Since 2009, on the island of Palm Jumeirah monorail, first put into service, should appear more six other short routes to major attractions and residential centers. While the transport problem is gradually being solved, there is still no common drain: many skyscrapers have only cesspools, the contents of which by road tankers utilized in wastewater treatment plants near the «International City» (“Safety becomes a major priority as Dubai construction skyrockets”, 2012). In Jebel Ali planned to build another treatment plant. There are also negative aspects of rapid development. In July 2005, there has been a power outage, resulting in 1.3 million four o'clock have to sweat at 40 ° C and 80% humidity. This is a temporary power outage did not hit the headlines. When sea bathing pleasure overshadows the effects of dredgers working on the alluvium, it is also silent media.
From the rate at which high-rises are being built in Dubai, piercing his extravagant towers sunny sky, may stop breathing. The designs of international architects who came to build in the United Arab Emirates, new buildings, and complexes, exceed the expectations of the most demanding sheiks and crazy dreamers (“United Arab Emirates: Dubai Maritime City Infrastructure Development Gains Rapid Momentum as 35 Percent Companies Get on Board”, 2012). That only is a rotating tower hour or man-made islands in the shape of palm trees. The cost of the damage that many housing developments applied nature, far above the astronomical sums that cover the costs of building materials, labor fees, and famous architects. The International environmental organization "WWF World Wide Fund for Nature" has recently conducted a study and came to the following conclusion: in matters of destruction and exploitation of natural resources against a background of economic prosperity and the architectural boom in the United Arab Emirates is the world leader.
Luxury futuristic islands, which are in the form of palm trees stretched across the sea from the coastline of the Persian Gulf, environmentalists and scientists are forced to think about the consequences of the destruction of the shoreline ecosystem. According to the times of al-Mubarak, environmental unconsciousness began to appear not only in the lightly generous built-up style, but also in the behavior of the inhabitants of the Emirates. They ride around the surrounding area on an oversized jeep, consuming large amounts of fuel and polluting the air with their exhaust fumes. UAE dandy spend their leisure time in the indoor shopping mall, which has everything that a man can only wish, but pure air: to ensure a pleasant temperature of the air in the rooms round the clock work consume a large amount of air conditioning energy (“Dubai Supreme Council of Energy Reviews Plans for Applying Green Building Regulations”, 2014).
Chairwoman of the Dubai office "WWF" Razan Al Mubarak said that the responsibility for the poor state of the environment and the tourists are. Their appetite for entertainment and a variety of attractions can not be met. They are willing to pay the most money for all new and a new batch of emotions. In recent decades, the Dubai economy has achieved relative independence from oil. Recently, Sheikh of the Emirate Mohammed bin Rashid Al Maktoum said that the level of income from the production and sale of oil account for only three percent of the gross domestic product. In the mid-70s, it reached 50 percent of GDP (“Global chemical agreement reached in Dubai”, 2016). In Dubai there is one more good reason to bet on the diversification of its economy: in fact if you believe the experts, then after three years oil reserves in Dubai are quite exhausted.
Dubai has staked on the field of service when the government provides the infrastructure, utilities, luxury real estate, parks, shops and recreation areas of foreign companies. But the problem with this model of development is that Western capitalist companies are not tied to one place and, if necessary, can carry out their activities from another location. As a result, Dubai has set itself dependent on the willingness of foreigners to cooperate with it. And because the Middle East is one of the most volatile regions of the world, foreign companies may want to leave Dubai at any time (Ramos, 2010). All this shows that Dubai is nothing more than a mirage in the desert. Its development and survival are entirely dependent on the professionalism and competence of the foreigners. And from the state of affairs in the foreign companies.
The only thing that could offer the indigenous inhabitants of the emirate is the banking and travel services for the same aliens. And so the development of these fields depends on whether they want the foreign citizens and companies to guide them in their money, they will be assured of the benefits of this (Hvidt, 2009). Dubai expects economic collapse as soon as the foreign companies will withdraw their money from there. This can happen for various reasons. For example, the war in the region can make the emirate an unsafe place for workers from overseas and cut trade routes. Property prices may fall, causing an outflow of investment from the city. In fact, the last 2 years have shown the reality of this scenario, which is consistent with the political realities of the Middle East.
The prosperity of Dubai (before the global financial crisis of 2008-2010), has led to the weakening of Islamic values because alcohol and other sins are allowed to attract foreigners. Even so-called "Islamic finance" has shown its complete dependence on the capitalist economic system. In particular, the financial conglomerate Dubai World, whose debt problems in late 2009 nearly caused a second wave of the global crisis, was under the threat of default on bonds Sukuk for which payments have identified weaknesses in Islamic finance: most investors are in the same position as holders of "traditional" capitalist bonds as assets underlying the Sukuk, in fact, does not become the property investor. After all, the legal framework of companies "Islamic finance" is adapted to the capitalist economic system prevailing in the world.
Despite the advantage of Islamic bonds as a safer alternative, in the event of default, holders of such bonds no longer have the additional benefit of legal protection, in addition to the conditions offered by traditional bonds, and therefore "normal" conditions of capitalist companies. The example of Dubai is impossible to repeat also because there is only one financial and tourist center may exist in the region. Two centers in one location by definition can not be. It's like having two airlines in the same region: "Emirates» (Fly Emirates) flies from Dubai, and "Etihad" from Abu Dhabi. "Emirates" transformed itself into a brand and become attractive for tourists from around the world, and "Etihad", on the contrary, is struggling to survive because the two airlines in one region can not enjoy such wide popularity as "Emirates". In the post-industrial era for the successful development of the economy, it is necessary to have a large service sector. In the US and the UK share of services in the economy is more than 70%. However, unlike them, Dubai and the rest of the Muslim world to industrialize. Therefore, the creation of economies in the Muslim world, based on the service, makes them unstable. In order to achieve economic independence, western countries have gone a completely different way, as a result, they have the industry equipped with the army and the state support of agriculture. Like credit "pyramids", Dubai is a bubble that will burst sooner or later.
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