Word: sheikhdom
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Dates: during 2000-2009
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...Despite persistent rumors that Dubai's bubble is about to burst, the tiny Arab sheikhdom keeps on growing, and real estate prices continue rising. Whatever controversy the announcement that oil-services giant is re-locating its headquarters to Dubai may be generating on Capitol Hill, in the Gulf region it is being seen as validating Dubai's ambitions to become the new frontier of globalization. At High Society Real Estate, Lesar would learn that a one-bedroom apartment in his new hometown will cost anything from $200,000 to $2.9 million. A relatively commonplace property offered by High Society...
...development is, indeed, staggering. A few years ago, Emirates announced plans to expand its fleet to 100 planes by 2010. It passed that mark last year, and is set to receive some of the first super jumbo Airbus A-380s. Only a decade ago, Dubai was a relatively sleepy sheikhdom - one of seven that make up the United Arab Emirates - known for being a trading hub due to its ports, rather than the oil output that enriches its neighbor, Abu Dhabi. But the ambitious Sheikh Mohammed, who formally became its ruler in 2006, implemented a vision that combined Dubai...
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