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There is perhaps no better example of the economic boom that preceded the global financial crisis than the story of Dubai. Having emerged from relative obscurity at the start of this century, Dubai's rapid economic development positively drew the world's attention to the Middle East, a region often associated with turbulence. Dubai, one of the seven emirates that comprise the United Arab Emirates, spearheaded the country's high economic growth that averaged 9% between 2003 and 2007. Construction and services were at the heart of Dubai's story. A plethora of cranes constructing high-rise buildings, land reclamation projects creating man-made islands and major Western service institutions opening offices symbolised the emirate's emergence.
