Gulf News, I see your point but I think it will backfire. If there is a peg it should remain in all aspects. If certain areas are slanted the peg will get strained with unpredictable consequences.
Liquidity being extracted from other markets needs a place to go. American Dollar holders and borrowers can now use these dollars to buy dirhams and invest in middle east property. They will pay borrowing rates far lower than available in the UAE. This will push up property prices (and everything else) inflating the bubble. There is no currency risk as the two are pegged.
If the disparity gets any worse we will have a carry trade on the Dirham with no currency risk!