Some Facts about Dubai and Dubai Financial Market Live Quotes
English is the medium of instruction in most schools in Dubai. Annual fees for nursery and pre-school vary greatly.
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There is an increasing number of "freehold" villas and flats on artificial islands such as the Palm Islands. The "lease" on these freehold properties is for 99 years. It is, however, illegal to seek employment on this visa. Ownership of lease does not guarantee any form of legal residency status in the UAE. The Federal Government is still formulating laws pertaining to ownership of property and considering issuing residency status to those who own such property.
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After the devaluation of the Gulf Rupee in 1966, Dubai joined the newly independent state of Qatar to set up a new monetary unit, the Qatar/Dubai riyal. Oil was discovered 120 kilometres off the coast of Dubai, after which the town granted oil concessions.