Geneva Kennedy Day Three in DuBai

10/16/2012 - Today we ventured out on a chartered bus and headed out for two destination spots for business presentations of companies: Dubai Internet City and Nakheel.

Dubai Internet City is one of the largest information and communications technology business parks in the middle east and north africa region. Dubai Internet City holds land issued to them by the government, which they have deemed as Free Trade Zone areas. These Free Trade Zone Areas are setup like parks, where foreign businesses in the same practice areas setup shop. Dubai Internet City acts as a one- stop-shop for the foreign business to get the business started. The foreign business owner retains 100% ownership of their company and has the assistance of Dubai City Internet to help launch the business in all phases except labor.

This meeting took place at a trade and technology show being held in Dubai called Gitex. After the presentation with Dubai Internet City we got an opportunity to walk around to see the latest technology gadgets being introduced from all parts of the world....From Nigeria to Russia.

Next we visited Nakheel, which is Dubai's real estate developer. Dubai was looking to expand is coastal line for tourism and luxury residential development. However, the Dubai beach front coast was all used up, so land was created to expand the beach front coast line from out in the Persian Gulf and Red Sea. Nakheel headed beach front expansion projects called The Palm and The World. The Palm is an expansion of beach front out in the Persian Gulf and Red Sea, created in the formation of a Palm Tree. This residential and tourist community is the home of private individuals, foreigners and nationals, as well as the site of a number of hotel expansions, including the infamous Atlantis Resort. Property in the Palm initially sold around $1.2 million and was sold out in 72 hours of its initial launch of the real estate by Nakheel. Currently, property sells around $8million. The World beach front expansion is the creation of 255 separate islands, which form the shape of the world. This property is totally for investors only who are interested in tourism type properties, such as hotels and resorts.

Our last stop on today was indeed a show stopper. We visited the Burj Khalifa, which is the tallest building in the world. The Burj Khalifa is absolutely amazing, located at the Dubai Mall, which has hundreds of stores and restaurants. This mall is a shoppers dream as Just about every American store and restaurant is located at this mall. They even have a Garrett's Popcorn and Potbelly's, plus every designer named retailer from Gucci to Chanel. There is a boardwalk along the mall entry where a musical water show is featured about every half hour. This water show is exactly what the Bellagio Hotel in Las Vegas does.

See photos taken from today.

Sydney, Annah, Geneva and Ray, MBAE14


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