FAQs - about Dubai, the UAE and the Middle East – Part 4

1: Is it expensive there?
2: Isn’t the stock market a little bit small?
3: I want to go shopping, do they have ….?
4: What kind of medical care do they have?
5: What if there is a war? Couldn’t all this be destroyed?
6: What can I do to not embarrass myself manners-wise while there?
7: What kind of food do they eat there? Can I find [fill in the blank]?
8: Can you help me contact Dubai citizens for investment in my project?
9: How can I get some of these wealthy people to [invest in my business, donate to my charity, pay for my school etc]?
10: If they are so progressive, wont they be a target for terrorists in their region? Surely terrorists must dislike how western Dubai is becoming.
 
 
1:Is it expensive there?
 
It’s about the cost of a moderate to large US city, say Boston or Columbus Georgia but with the option to go to ultra luxury restaurants and hotels that one could only find in NYC or LA. Dubai is cheaper than NYC, London or LA for the most part but its costs have gone up over recent years. If it levels out somewhere around other major cities it will still be very worthwhile to go to.

Certain things, like labor, drivers etc are cheaper in Dubai, as are cars for some reason.
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2:Isn’t the stock market a little bit small?
 
Thank you, a question that’s actually in my area of expertise. Yes, the overall market cap of the stock market is small by American standards; the market is brand new, started in 2005 and is at the time of this writing dominated by one large stock. We think there is a good chance this will change dramatically as more companies are listed on the stock exchange. Many IPOs are in the pipeline for the near future.
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3:I want to go shopping, do they have ….?
 
Yes. The stores have everything.
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4:What kind of medical care do they have?
 
The UAE has excellent medical care and hospitals.
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5:What if there is a war? Couldn’t all this be destroyed?
 
Sure, just as if there were a war in England, Japan, Finland or Florida. There is no sign at this point of the UAE being involved in any new war. The same cannot be said for many other nations including the US.
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6:What can I do to not embarrass myself manners-wise while there?
 
Great question! I am not an expert on etiquette and the other things people need to know, just a business person who has gotten a lot of response to my article. Read up on the culture and etiquette. This is a major city so there are a variety of people and the residents are used to dealing with all types of people. Certain things should be watched out for such as not crossing your legs in a way that shows the sole of your shoe to someone, this is considered offensive in Arab countries. During Ramadan, a holy month, there are additional things that should be noted such as avoiding playing load music and eating in open public places on fasting days (you can eat in hotels and restaurants). If you are male it is not appropriate to stare at local women, in fact I don’t think it’s polite to stare at anyone. I do not know what the dating scene is like because I am married, but I do know that dating as we know it in the US does not exist here. Do not ask someone who is local on a date like you would in the US. This is a whole large area that I didn’t research and don’t know anything about other than that you should read up on what is acceptable first. Be humble and polite. As with most cultures, when you make an effort, show that you care and are respectful you will do well even if you do not know every detail of what you should.
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7:What kind of food do they eat there? Can I find [fill in the blank]?
 
Every kind of food you can think of. I think the food is delicious and there are many fine restaurants. It is easy to find Middle Eastern food of course and there are many European and American restaurants. No matter what your tastes you can find what you want here. There are Applebee’s, TGI Fridays even Johnny Rockets if you have very American tastes. Personally I liked the local food best because it is different than what we eat in the US I also think the Indian food was great. Basically all the food was excellent.
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8:Can you help me contact Dubai citizens for investment in my project?
 
No, sorry. We bring money to the region not from the region. Mainly we help US customers who want to invest in the Dubai and Middle East. We have many Dubai citizens who are contacts of ours, if one wishes to invest with us we help them invest in US markets but not typically in individual projects but through companies we already have relations with, recognized venture capital and investment firms etc. This is not our market or focus, sorry.

If you are really serious about raising money from the area your best bet is to create a relationship with someone who is local. Be cautioned that your plan must add value and not simply exist because you perceive that rich people in Dubai want to invest in anything you can throw their way. If you offer something truly good and a sound plan then you might have luck. You might be best off sticking to an area you know better.
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9:How can I get some of these wealthy people to [invest in my business, donate to my charity, pay for my school etc]?
 
It is just like any other investor or benefactor. People need to have relationships with those they deal with. It is a mistake to think that because an area is wealthy that people will invest in something on a whim. The major investors in the area as just as savvy and careful as any other major investors. Remember, the US is also considered a wealthy nation. Just as it would not make sense for someone from another country to assume that US citizens can throw money at frivolous investments, it doesn’t anywhere else. The UAE is very pro-business so a good deal with hard work can be well received.

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10:If they are so progressive, wont they be a target for terrorists in their region? Surely terrorists must dislike how western Dubai is becoming.
 
I don’t know if I would say that Dubai is “becoming western”. Dubai is progressing and moving and doing great things, many of which are things we embrace in western culture.

When we talk about extremist, insane terrorists, who knows what is in their mind? We could not have predicted the horrors of Oklahoma City or 9-11 or the reasons behind them. Dubai’s greatness might cause negative attention from a tiny minority of extremists but I can’t imagine that anyone would want any place to delay greatness or growth based on the fear of terror. Are there some people in the world who want to destroy anything great? Sure. Growth and progress in the world must continue everywhere, including Dubai. When people have fun and are building something and providing for their families it is a recipe for peace. I see Dubai being a great creator of opportunity and peace.

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