United Arab Emirates Real Estate
Information about United Arab Emirates
United Arab Emirates
The United Arab Emirates (UAE) is a federation of seven emirates situated in the southeast of the Arabian Peninsula in Southwest Asia on the Persian Gulf, bordering Oman and Saudi Arabia. The UAE consists of seven states, termed emirates, which are Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Quwain, Ras al-Khaimah and Fujairah. The capital and second largest city of the United Arab Emirates is Abu Dhabi. It is also the country's center of political, indu...strial and cultural activities.
The United Arab Emirates has the world's sixth largest oil reservesand possesses one of the most developed economies in the Middle East. It is currently the thirty-sixth largest economy by nominal GDP, and is one of the richest countries in the world by per capita gross domestic product, with a nominal per capita GDP of $54,607 as per the IMF. The country is fourteenth largest in purchasing power per capita and has a relatively high Human Development Index for the Asian continent, ranking 31st globally. The United Arab Emirates is classified as a high income developing economy by the IMF.
The United Arab Emirates is a founding member of the Cooperation Council for the Arab States of the Gulf, and a member state of the Arab League. It is also a member of the United Nations, Organisation of the Islamic Conference, the OPEC, and the World Trade Organization.
Abu Dhabi is the capital of and the second largest city in the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western coast. The city proper, making up an area of 67,340 km2 (26,000 sq mi), had an estimated population of 860,000 in 2007. Abu Dhabi houses important offices of the federal government, and is the seat for the United Arab Emirates Government and the home for the Emarati Royal Family. Abu Dhabi has grown to be a cosmopolitan metropolis. Its rapid development and urbanisation, coupled with the relatively high average income of its population, has transformed Abu Dhabi. Today the city is the country's center of political, industrial activities, and a major cultural, and commercial centre due to its position as the capital. Abu Dhabi alone generates 15% of the GDP of the United Arab Emirates. Abu Dhabi is home to important financial institutions such as the Abu Dhabi Securities Exchange, the Central Bank of the United Arab Emirates and the corporate headquarters of many companies and numerous multinational corporations. One of the world's largest producers of oil, Abu Dhabi has actively attempted to diversify its economy in recent years through investments in financial services and tourism. Abu Dhabi is the third most expensive city in the region, and 26th most expensive city in the world.
Dubai is one of the seven emirates and the most populous city of the United Arab Emirates (UAE). It is located along the southern coast of the Persian Gulf on the Arabian Peninsula. The Dubai Municipality is sometimes called Dubai city to distinguish it from the emirate. The emirate's main revenues are from tourism, real estate and financial services. Revenues from petroleum and natural gas contribute less than 6% (2006) of Dubai's US$ 37 billion economy (2005). Real estate and construction, on the other hand, contributed 22.6% to the economy in 2005, before the current large-scale construction boom. Dubai has attracted attention through its real estate projects and sports events. This increased attention, coinciding with its emergence as a Global City and business hub, has highlighted labour and human rights issues concerning its largely South Asian workforce.
Ajman is the capital of the emirate of Ajman located along the Persian Gulf.
UAE dirham (AED)
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