Dubai Inc.

Dubai Inc. is a phrase used to describe a collection of diverse companies owned primarily by the Government of Dubai. These state-controlled investment properties grew from what was just a vision of Sheikh Mohammed bin Rashid Al Maktoum’s predecessors in the year 2000. Since then, the ruling family selected leading figures to “ take over what proved to be one of the most extraordinary success stories in global investment and development.”, Dubai Inc. Some examples of local companies under Dubai Inc. include Dubai World, Dubai Holdings, Emirates, and investment subsidiaries under Dubai World, such as Dubai Ports World, Jebel Ali Freezone, Nakheel, P&O ferries. and others.

Dubai, established in the early 1970s, is one of the seven cities in the United Arab Emirates.

Despite being along the eastern edge of the Arabian Peninsula, Dubai is rather strategically located halfway between the financial capitals of London and Singapore, giving it access to a vast amount of people within a short plane journey. Due to this perfect business environment Dubai is an attractive host for a plethora of multinational corporations, helping it to transform into the Singapore of the Middle East from just a spit of sand along the Persian Gulf.

Perhaps the start of Dubai Inc. dates back to as early as 1985. The prince, having recently had his flight cancelled last minute, called Maurice Flanagan, demanding how much it would cost to start up his own airline. “Ten million dollars”, replied the Brit. The first plane took off in the same year, and Emirates Airlines now has a fleet size of over 230 aircraft, flies to over 140 destinations in 80 countries and has 1500 planes departing from Dubai every day; earning its 5th spot on the list in the World’s best airlines.

The prince behind this movement was one of the most, if not the most, influential visionaries in the formation of Dubai Inc., Mohammed bin Rashid Al Maktoum. Known by his people as “the boss”, Sheikh Mohammed assumed practical control of Dubai in 1995. Aside from Emirates, Sheikh Mohammed has refashioned Dubai by increasing tourism, finance and media related businesses. Along with Sultan Ahmed Bin Sulayem, who was placed in charge of Dubai Ports (DP) and Mohammed Al Gergawi, who took over Dubai Holdings, the three individuals collectively went to work on transforming Dubai.

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