Sustainable Growth and Stability
Mohamed Al Abbar, the synonym of Dubai’s meteoritic rise during the past decade was sidelined by Rulers of Dubai for the past couple of year for unknown reasons and at last they were forced to have him brought to the forefront to defend Dubai’s financial position because he is the only Dubai official with some credibility. Dubai’s development was not backed by fundamentals but by greed. With the model implemented in Dubai the indirect taxing has sky-rocketed and I believe they have a special department for this purpose.
Residents of UAE were all affected with the Model pursued at Dubai which forced other Emirates follow suit. It created chaos and pains in housing, traffic, education, medical, and all other essential goods and service sectors. Rulers of Dubai should return to the basics and follow the foot-steps of Sh. Zayed and Sh. Rashed to achieve sustainable growth and stability, if not, whenever and wherever the development lost its human touch it sucks and indeed it is what is happening in Dubai at the moment.