:: International Real Estate ::
 |
| |
| |
| |
United
Arab Emirates
(UAE):
Formed in December
2, 1971, it is
a federation of
the following
seven emirates
- Abu Dhabi, Ajman,
Dubai, Fujairah,
Ras Al Khaimah,
Sharjah and Umm
Al Quwain.
Location:
It lies in the
Arabian Peninsula
at the tip of
the rhinoceros
horn that protrudes
into the Persian
Gulf. Geographic
coordinates -
24 00 N, 54 00
E.
Area:
83,600 square
kilometers / 32,400
square miles (Roughly
the size of Portugal
or Maine)
Religion:
Islam
Language:
Arabic is the
official language.
Other languages
like English and
Hindi are widely
used, including
Urdu, Malayalam,
Tagalog.
Capital:
Abu Dhabi
Time
difference:
G.M.T: + Four
hours; Eastern
Standard: +Nine
hours
Currency:
Arab Emirates
Dirham (Dh or
AED, pronounced
dir-ham);
One UAE Dirham
= 100fils
Exchange
rate:
Dh3.6780 = US$1.00
(convert your
currency)
Internet
domain:
.ae
International
dialling code:
+971
Life
expectancy:
71.4 years (1994)
Literacy
rate:
84.6 per cent
(1995)
Population:
2,377,453 (1995)
Head
of State:
President His
Highness Sheikh
Zayed bin Sultan
Al NahyanProperties
to suit customer’s
requirements from
simple holiday
apartments to
Houses, Dream
villas, Investment
properties such
as Land, Hotels,
Shops, Offices,
business etc.
Our goal is to
give you the best
possible service
and the biggest
selection of properties.
Today we have
been able to create
a niche for ourselves
by building a
sense of TRUST
and our clients
believe we can
offer them a lifetime
property deal. |
|
|
 |
|
|
|
Although the UAE
is still a very
young country, the
earliest settlements
date back to the
Stone Age. First
to come were the
Greeks, followed
by the Portuguese
who arrived in 1498.
Here’s a brief
history of the UAE...
1700s
The Al Qasimi family
ruled much of the
Northern Emirates.
1800s
The Gulf region
was regarded by
the British as a
cardinal communication
link with its empire
in India. Also,
in order to keep
other world powers
away, the British
began asserting
their presence in
this region. It
was known as the
Trucial Coast until
the departure of
the British in 1971.
1833
Dubai was founded
when a group of
people of the Bani
Yas tribe seceded
from Abu Dhabi and
settled in Dubai.
1928
Accession of Sheikh
Shakhbut as Ruler
of Abu Dhabi.
1958
Petroleum was first
discovered in commercial
quantities beneath
the coastal waters
of Abu Dhabi. This
discovery dramatically
transformed the
UAE from one of
the poorest states
into the richest.
1966
Accession of His
Highness Sheikh
Zayed bin Sultan
Al Nahyan as Ruler
of Abu Dhabi.
1968
The United Kingdom
announced its intention
of withdrawing British
military forces
from the area. In
the same year, The
Trucial States,
joined by neighbours
Bahrain and Qatar,
was named the Federation
of Arab Emirates.
July,
1971
Six of the Trucial
States (Abu Dhabi,
Dubai, Sharjah,
Umm Al Quwain, Ajman
and Fujairah) agreed
on an interim federal
constitution for
achieving independence
as the United Arab
Emirates.
August,
1971
The Federation was
originally supposed
to be completely
independent. But
the interests of
Bahrain and Qatar
proved to be incompatible
with others, and
both seceded into
separate independent
states.
December,
1971
The UK accordingly
terminated its special
treaty relationship
with the States,
and the UAE became
independent.
1972
The remaining sheikhdom,
Ras Al Khaimah,
joined the United
Arab Emirates as
the seventh emirate
to form the present
UAE. |
|
|
|
|
Coordinates
The United Arab
Emirates lies
between 22°50'
and 26° north
latitude and between
51° and 56°25'
east longitude.
Total
Area
It occupies a
total area of
about 83,600 square
kilometres or
32,400 square
miles (roughly
the size of Portugal
or Maine). Of
this, Abu Dhabi
contains about
80 per cent of
the area and Ajman,
the smallest of
the seven emirates,
has an area of
about 250 square
kilometers.
Border
The UAE shares
a 19-kilometre
border with Qatar
on the northwest,
a 530-kilometre
border with Saudi
Arabia on the
west, south, and
southeast, and
a 450-kilometre
border with Oman
on the southeast
and northeast.
Coastline
The UAE has 700
kilometres of
coastline, of
which 100 kilometres
are on the Gulf
of Oman. Along
the Arabian Gulf
coast there are
about 100 offshore
islands, coral
reefs and sabkha
(salt-marshes)
and mangroves.
South and West
The land is mainly
sand dunes and
salt flats with
occasional oases.
North
The sand dunes
yield to gravel
plains formed
by the Hajar mountain
range, dating
back about 200
million years.
The mountains
rise to a height
of over 3000 metres
and run from the
UAE, south into
Oman.
East Coast
It is essentially
a fertile plain
where rainfall
and subterranean
water have allowed
agriculture to
be practised for
thousands of years.
Along the coast,
there are long,
unspoiled beaches
stretching for
kilometres. |
|
|
|
|
|
|
Despite the rapid
social and economic
development, the
values of Islam
and the traditional
aspects of life
are still quite
apparent in the
UAE.
National
Dress
The UAE nationals
wear the traditional
distinct long robes
and head dress.
Native men folk
wear an ankle-length
shirt (dishdasha)
and the women wear
a long black cloak
called abaya.
Traditional
Sports
The Rulers effectively
promote traditional
sporting events
that represent their
past.
Camel and horse
racing is very much
a part of the Arab
culture that reflects
the traditions of
the desert. Now,
it has become one
of the country's
most popular spectator
sports with some
events offering
prize money of well
over a million dollars.
Another indigenous
sport is falconry,
which is a unique
partnership between
man and bird, with
the bird being released
at the end of the
season.
Dhow sailing is
another tradition
that has taken on
a new life in the
years since the
UAE was established.
Folk
Music and Dance
No special occasion,
like weddings, religious
holidays and celebrations,
goes without music
and dance where
members of folk
arts perform to
the sounds of traditional
instruments. Arabic
culture in poetry,
dancing, song and
art is also encouraged.
People
The UAE nationals
descended from the
tribal confederations
that dominated the
peninsula since
before recorded
history.
The UAE has a large
expatriate population
consisting of workers
from all over the
world. Arabic is
the official language.
Other languages
like English and
Hindi are widely
used, including
Urdu, Malayalam,
and Tagalog. All
these groups add
to the diversity
of the UAE's cosmopolitan
society. |
|
|
|
|
The
United Arab Emirates
has a free market
economy based
on oil and gas
production. However,
in order to reduce
UAE’s dependency
on oil, its far-sighted
Rulers have incorporated
comprehensive
industrial diversification
programmes. As
a result, there
has been a steady
increase in contribution
from the non-oil
sector.
The UAE
Market
The UAE market
on a broad scale
is large and growing.
Many of the economies
of the region
are still at a
relatively early
stage of development,
so there is plenty
of long term scope
for diversification
and expansion.The
market is accessible,
diversified, competitive
and free. There
are no foreign
exchange controls,
quotas or trade
barriers. Import
duties are extremely
low, and many
products are exempt
from duty.
English and Arabic
are the main business
language and there
are many foreign
banks, lawyers
and other advisors
to help those
wishing to enter
the UAE market.
This strategy
is well demonstrated
by the Free Zones,
like Jebel Ali
or Hamriya, that
have attracted
big industry players
from all over
the world. There
are also other
Free Zones besides
these throughout
the UAE.
Taxation
There is no corporate
and income tax
in the UAE. The
only exceptions
to this are oil
producing companies
and branches of
foreign banks.
Exchange
Control
There are no exchange
controls in the
UAE and its currency,
the UAE dirham
(pronounced dir-ham),
is freely convertible.
The current exchange
rate is Dh3.6780
to US$1 and no
revaluation has
occurred since
1977. (convert
your currency
into dirahms)
Trade
Marks and Patents
There are Federal
Laws that safeguard
industrial and
intellectual property
and provide protection
against commercial
piracy and fraud.
Legal
System
Laws dealing with
labour, commercial
transaction, intellectual
property and other
aspects of business
are also present.
Oil Facts
The UAE has the
largest reserves
of hydrocarbons
in the world (c.98.1
billion barrels
of proven oil
reserves and c.
5,831 billion
cubic metres of
proven gas reserves).
The UAE is second
only to Saudi
Arabia in worldwide
oil reserves and
third in natural
gas reserves.
Although the UAE
is trying to diversify
its economy by
encouraging light
manufacturing,
the oil sector
accounts for 80
per cent of UAE
revenues and 70
per cent of UAE
exports.These
resources are
not distributed
evenly among the
seven emirates.
Abu Dhabi has
70 per cent of
total oil earnings;
Dubai has 25 per
cent; and Sharjah
has four per cent.
Oil revenues in
the other emirates
are negligible.
Economy
Facts at a Glance
(1995, source:
United Arab Emirates
Ministry of Finance
and Industry)
Gross
Domestic Product
(GDP):
Dh144 billion
Annual
growth:
Six to Seven per
cent
Inflation:
Four to Five per
cent
Major
industries:
Oil, gas, petrochemicals,
fishing, agriculture
Major
trading partners:
USA, EU, Japan |
|
|
|
|
|
|
|
The Ministry of
Education runs several
educational institutions
for expatriate families
that offer education
to the curriculum
requirements of
the UK, US, Italy,
Japan, Iran, Germany,
France, India, Pakistan.
English is usually
the main language
of instruction,
but other languages
are also used by
foreign language
schools. |
|
|
| Government
& International
Relations |
|
The
President His
Highness Sheikh
Zayed bin Sultan
Al Nahyan has
been the Ruler
of Abu Dhabi emirate
since 1966 and
President of the
UAE since its
formation in 1971.
The Ruler of Dubai,
His Highness Sheikh
Maktoum bin Rashid
Al Maktoum is
the Vice President
and Prime Minister
of UAE.
The Rulers of
each of the seven
emirates form
the Federal Supreme
Council, the top
policy.
Besides this,
the Federation
also includes
a Cabinet, or
Council of Ministers,
a parliamentary
body, the Federal
National Council,
and an independent
judiciary.
The Supreme Council
is responsible
for general policy
matters and ratifying
federal laws.
The Federal Council
of Ministers has
executive authority
to initiate and
implement laws.
The Federal National
Council (FNC)
monitors and debates
government policy
but has no power
of veto.
The federal judiciary,
guaranteed its
independence under
the Constitution,
includes the Federal
Supreme Court
and Courts of
First Instance.
The UAE became
a member of the
United Nations
and the Arab League
in 1971 and has
established diplomatic
relations with
many countries,
including the
US, Japan, the
Soviet Union,
the People's Republic
of China, and
most Western European
countries.
The UAE is a member
of the following
organizations...
• International
Monetary Fund
(IMF)
• The Organisation
of Petroleum Exporting
Countries (OPEC)
• The World
Trade Organisation
(WTO)
• The International
Labour Organisation
(ILO) and other
international
and Arab organisations.
• It was
a founder member
of the Gulf Co-operation
Council (GCC),
whose other members
are Saudi
Arabia, Oman,
Qatar, Bahrain
and Kuwait.
Substantial development
assistance has
increased the
UAE's stature
among recipient
states. Most of
this foreign aid
(in excess of
US$15 billion)
has been to Arab
and Muslim countries.
In its foreign
relations, the
UAE's stance is
one of non-alignment
but it is committed
to the support
of Arab unity
and Islamic causes. |
|
|
|
|
|
|
|
 |
|
|
|
