The whole world may be facing a worsening economic crisis but Dubai is experiencing a real estate boom thanks to its enviable position as an oil-rich nation. In fact, Dubai’s advantage lie in the fact that the higher the oil prices get, the greater the speed of its growth.

At least $750 billion worth of real estate projects have been noted for Iran, GCC and Iraq areas and an estimated 33% of these developments are in the United Arab Emirates. This is ironic considering that the combined gross domestic product of the region is way below $700 billion which proves how Dubai’s growth can defy traditional standards. Analysts have reported as early as five years ago that Dubai’s real estate market will cease to be profitable.

With a 29% growth rate per year and expected growth in the GDP of Dh 500 to 900 billion by 2010, the UAE already holds the honor of being the Arab Countries’ second largest economy. Of the total projects in UAE worth $225 billion, more than half or a total of $125 billion is accounted for by Dubai. Dubai is known for its investment and visitor friendly policies.