Urban Development in Dubai (Thesis Writing)
The aim of the paper is to analyse the process of urban development in Dubai based on the ideas of Denise Dipasquale and William Wheaton (researchers and academicians on urban policy and economics). This thesis focuses on the process of development based on factors like the trading of oil, access to oil in 1966, population growth of the city and incentives invested onto the city for infrastructure development and how these factors then affect the market of real estate in the city. All these factors contribute to the expansion of the construction sector and therefore created the existing real estate condition in the city. However, because Dubais economy is independent of the oil sector (in the 1980s, Dubai changed its focus from oil revenue to real estate development and tourism upon discovering that oil prices changes in a volatile manner, access to oil is assumed to contribute to a higher amount of disposable capital. Hence, not affecting the rental price and real estate value of the city.
Bibliography: Fazal Fatema, “The Urban Development in Dubai: A Descriptive Analysis”, Master Thesis, (Uppsala University, 2008)