Family business on the brink of change
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Sheikh Mohamed bin Rashid Al-Maktoum has transformed Dubai from a backwater town into a global trade and tourism hub |
Maktoum The Maktoums are the ruling family of Dubai, the most dynamic and media-savvy of the seven emirates of the UAE. The family is headed by the high-profile Sheikh Mohamed bin Rashid Al-Maktoum, who in a remarkably short space of time has transformed Dubai from a backwater town into a global trade and tourism hub.
As elsewhere in the Gulf, it is difficult to pinpoint where government interests begin and family interests end. Analysts say that some public-sector companies in Dubai are more closely family-controlled than others. The line remains blurred in most cases but the country is often considered to be run along the lines of a private corporation – hence the tag "Dubai, Inc".
With oil generating only some 6% of Dubai’s GDP, other key assets include the Emirates airline, infrastructure, telecoms, land and several huge but loose-knit holding groups. These include Dubai World, which includes global port owner and operator DP World, various free-zone authorities and Nakheel, developer of the ambitious Palm Island projects.