Seven reasons why we think Dubai is back

‘Dubai is back.’ Ever since the recession hit, people have been mumbling those three words; perhaps with hopes that repetition would result in conviction. We first heard the phrase uttered as early as 2010. While such assertions may have seemed weak in years gone by, the micro-indicators of 2014 lend credibility to the conversation. Consider our top seven reasons why Dubai could be back.

#1. You consider filing for bankruptcy after renewing your rental contract

Remember the days when the Dubai rental scene was a tenant’s market? After the financial slowdown, rents plummeted across the board in Dubai. Landlords were pulling out all the stops to get tenants: from offering free TV and Internet, some landlords even covered the cost of relocating. Nowadays, with rents climbing a steep 15%, you would be lucky if your landlord didn’t leverage the rental calculator to the maximum to get every last dirham out of you while he can. Assuming you even find a place that ticks all the boxes, good luck trying to secure a lease. The days of the apartment going to the highest bidder are back.

# 2. The thought of struggling through rush-hour traffic prevents you from getting out of bed in the morning

In the days following the financial slowdown, it wasn’t uncommon to see dusty cars abandoned on the side of the road and at the airport. Sad as it was to think why those cars were left behind, fewer cars on the roads just meant less traffic, less road rage, fewer accidents. Fast-forward to 2014: the fact your morning drive induces intense feelings of anxiety is just one of the many indicators that Dubai is back. And it isn’t just the traffic on the roads which has increased. From the shopping malls to the metro, have you noticed how there are so many more people everywhere? After you have waited for what seems to be an eternity to get into an elevator, you begin to long for the days when the economy wasn’t booming quite so.

# 3. You no longer need to stick to a job because no one else will hire you

Downsizing, right sizing, thinning the fat - whichever term for redundancy you pick, chances are you heard them all in 2009. It was a rough time to be an employee in the UAE, and an even worse time to be a fresh graduate. Imagine an economy, which had no space for an entry-level grad looking for an unpaid internship? Things were rough - but not any more. Recruitment consultancy Robert Half predicts salaries for professional occupations will increase by an average 3.8% this year alone.

#4.That fireworks display

A total of 450,000 fireworks set off in six minutes. Ten months of planning. Some $6 million to set a new world record. Do we really need to say more?

#5.Additional Salik Gates taking a toll on your wallet

Last year and for the first time in six years, the RTA rolled out two toll gates (one on Al Ittihad Road near Al Mamzar Bridge and the other on Beirut Road near Airport Tunnel), officially signalling a new rise in the cost of living in Dubai.

#6.The taxi driver is king… again

At the height of the boom, I was a Dubai taxi ninja. I knew how to stealthily get past the long queues of people snaking about taxi stations. I had mastered the art of slipping into a taxi just a second after the previous passenger exited it - but most importantly, I knew how to strike the balance between sweet-talk and assertion to talk the taxi driver into taking me to my traffic-choked destination. When the recession hit, taxis were no longer prized commodities. Flagging down a cream-coloured sedan within minutes of stepping out, wasn’t an accomplishment or something to brag about over dinner. Those were the days,  the stuff legends are made of… now begin the taxi games.

#7. Let the plans for the super-duper-multi-multi-multi-billion-development begin

During the boom years, the city was dotted with red and white tape and men in hard hats and blue uniforms. Once plans to build a partly underground metro came to fruition, the few areas untouched by the boom were being broken up from with in. When the economy slowed down, it became less common to see that cloud of dust and sand hanging above construction sites - but now that Dubai has won the rights to host Expo 2020, things are changing. Just take a look at the roster of projects the Emirates has on the cards: multi-billion-dollar Mohammad Bin Rashid City to feature the Mall of the World, the Dubai Eye (world’s largest Ferris wheel) to be constructed on the Dh6 billion Bluewaters Island, Palm Deira and District One.