The Dubai government's decision to diversify from a trade-based but oil-reliant economy to one that is service- and tourism-oriented has made real estate and other developments more valuable, resulting in the property boom from 2004–2006. Construction on a large scale has turned Dubai into one of the fastest-growing cities in the world. There are a number of large-scale projects which are currently under construction or will be constructed in the future. Due to the heavy construction which is taking place in Dubai, 30,000 construction cranes, which are 25% of cranes worldwide, are operating in Dubai. Due to the burst of construction, Dubai has acquired various building-related records, which include: the world's tallest tower (Burj Khalifa), the world's largest shopping mall (Dubai Mall), the world's largest fountain (Dubai fountain) and the world's tallest hotel (Rose Tower). Also under construction is Dubailand, which will be almost twice the size of the Walt Disney World Resort.Dubai Media City (DMC) part of Dubai Holding is a tax free zone within Dubai, United Arab Emirates. It has been built by the Dubai government to boost UAE's media foothold, and has become a regional hub for media organizations ranging from: news agencies, publishing, online media, advertising, production, and broadcast facilities. The ground work for infrastructure (Such as fiber optic cables) was already laid for firms to setup easily and its visa and operational procedures are relaxed for firms operating within DMC.
The Dubai International Financial Centre (DIFC) is a near-shore financial hub for the MENA containing a capital market designated as a financial free zone in Dubai. It is established to create an environment for growth, progress and economic development in the UAE and the wider region by providing the needed legal and business as well as physical infrastructure benchmarked with international standards.
The World is a man-made archipelago of 300 islands in the shape of a world map currently being built off the coast of Dubai, United Arab Emirates. The World is one of a series of artificial island projects in Dubai, along with the Palm Islands, and like the other islands The World is being built primarily using sand dredged from the sea. The World is the brainchild of Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai. As of November, 2009, only one of the hundreds of islands is completed, topped with a large house and many trees. All others remain barren, and no construction equipment is in evidence.
Business Bay is a central business district under construction in Downtown Dubai, United Arab Emirates. The project features numerous skyscrapers located in an area where the Dubai Creek has been dredged and extended. The Business Bay will have upwards of 230 buildings, attracting commercial and residential developments.
Business Bay extends from Ras Al Khor to Sheikh Zayed Road. It is located for international trade as one end of the development touches Sheikh Zayed Road with its office towers housing international firms and the financial institutions of the Dubai International Financial Center. International hotels such as the Emirates Towers and Shangri-La are also on Sheikh Zayed Road. On the Creek side, Business Bay is next to the Dubai Festival Center and is in proximity to Dubai International Airport.