WideB
You're missing some big points...
In London, you have culture, things to do, and a very good public transportation system.
In Dubai, as you said, you will pay slightly less for rents, but you'll stumble out of your flat into sand or a construction zone, or have to sneak your way through the cars that are illegally parked on the street with their flashers.
With the money I pay for rent, I could live in NYC (not quite 5th ave or upper east side, but in manhatten). One thing for sure, I can't walk outside my apartment and see an award winning broadway show, walk to 1,000 shops and restaurants, see movies without people making phone calls and cross the streets without having to look for a blacked out nissan patrol going 180k through a red light... you get the point.
Also, flying during the day here is getting less and less. Maybe its hard to keep track with the lack of many days off.
CC