In 1901 Sheikh Maktoum bin Hasher Al Maktoum established Dubai as a free port, abolished all tariffs and began a programme to persuade merchants from the Iranian city of Lingah to relocate to the Dubai Creek.
A natural harbour the Creek was critical to the early development of Dubai. But even by the Second World War Dubai was still a small town with a population of around 20,000.
Dubai's real economic development began in the 1950s when the late Sheikh Rashid bin Saeed Al Maktoum dredged the Dubai Creek, significantly expanding its capacity and rapidly repaying a loan from the Emir of Kuwait. Sheikh Rashid also founded the Dubai airport and established the first hotel in Dubai in 1959.
This is a thumbnail 'who's who' and 'what's what' in the fast-paced World of the Dubai property sector.
A: Amlak Finance, leading mortgage provider.
B: Better Homes, along with Asteco, the top local estate agents.
C: Cluttons joins FPD Savills as major UK agencies in Dubai.
D: Damac Properties, largest privately-owned developer.
E: Emaar Properties, major property developer, 30% owned by Dubai Government, listed on Dubai Financial Market.
F: Fbi Property Development Company, a Dubai property development company.
G: Goldcrest, building towers in the Jumeirah Islands.
H: Hotels & Resorts IFA is a major investor in Palm Island real estate.
I: International City, tens of thousands of apartments in a themed complex behind Dubai International Airport.
J: Jumeirah Beach Residence, development of more than 40 towers on the Dubai Marina beachfront, 100% Dubai Government owned.
K: Kinnarps of Sweden, leading office fit-out specialists.
L: Landmark Properties, another local agent.
M: General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Dubai real estate sector's visionary leader.
N: Nakheel, 100% Dubai Government-owned, developer of The Palm Islands and The World.
O: Oryx, one of a new breed of Dubai property agencies.
P: The Palm Islands, one off Jumeirah and the second off the coast at Jebel Ali, massive man-made islands shaped like palm trees.
Q: Quick construction, fast-track building with minimal planning delays and no red-tape.
R: Rakbank, along with HSBC and Mashreqbank, providers of mortgage finance.
S: Springs, 4,000 town houses behind the exclusive Emirates Hills and Meadows executive homes.
T: Tamweel, home finance company, a joint venture between Nakheel and Dubai Islamic Bank, both Dubai Government entities.
U: Union Properties, the second largest listed Dubai property firm, Emirates Bank International has a controlling stake.
V: V-Kool, a Dubai firm supplying sun-reflecting window film that dramatically cuts energy bills.
W. The World, a man-made archipelago of islands in the form of a map of the world, off the Dubai coast.
X: Extremely good value-for-money property.
Y: Yachts in the Dubai Marina, a 1.8km long artificial harbour, central focus of a development of 100+ high rise towers.
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