STAGGERING GROWTH IN THE SIZZLING DESERT

By Kevin Oates

To get an idea of what Dubai is like right now, consider the following statistics:

• UAE growth was measured at 7% in 2003, estimated at 3.6% in 2004 and forecast for 4.5% in 2005.

• Jebel Ali was the first Free Zone in the 1980s; there are now more than 30 such zones in the Middle East.

• Estimates put planned aggregate Middle East regional investment in the energy sector, to meet demand growth, at $150 billion.

• Estimated capital required for oil projects by 2006 is $41 billion, for gas projects $19 billion and for petrochemical projects $13 billion.

• The container throughput in Dubai has grown from 1.16 million boxes in 2001 to 2.61 million boxes in 2004.

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