BDD
Assuming 200k, this will get you a reasonable place throughout Dubai, nice 3 bed villa slightly out of town or a good 2 bed, 2 bath apartment in Marina or downtown. It should also cover some to all charges depending on location. DEWA (Dubai Electricity & Water) is not cheap for expats and watch out for hidden expenses and fees. You can currently buy a very nice 4 bed villa just outside of Arabian Ranches community for around 3 million. If you can stump up 30% for the deposit plus another 6% for fees and commission, what you pay in rent will give you an unencumbered villa within 10-12 years.
EK Captains get slightly less than that allowance, (circa 190k per annum) but if you're without kids, it will do fine. If you're here long term, it might be worth buying as prices are slowly dropping and there's plenty of incentives available to buy but a 6-12 months rental would be my advice to get a feel for the place and where you might want to live first.
Big Geordie offers the best advice!
Harry