Sheikh Rashid bin Saeed Al Maktoum began the development of Dubai transforming the city from a small cluster of settlements near the Dubai Creek to a modern port city and commercial hub.
The major turning point in the history and fortunes of Dubai was the discovery of oil in 1966. Coupled with the joining of the newly independent country of Qatar and Dubai to create a new currency, the Riyal, after the devaluation of the Persian Gulf rupee which had been issued by the Government of India, it enabled Dubai to rapidly expand and grow. Once the first shipment of oil was made in 1969, the future of Dubai as an autonomous state was secured, and its ability to dictate policy in later years to the UAE was cemented.
Bolstered by oil, Sheikh Rashid began developing the infrastructure that would support Dubai's goals to become a leading trade hub. Rashid Port, Jebel Ali Port, Dubai Drydocks, the widening of the Dubai Creek, and the Dubai World Trade Center were some of the major projects completed at the time. Ever conscious of the limited supply of oil, Sheikh Rashid was determined not to allow Dubai to become dependent on oil. "My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel," said Sheikh Rashid, telling people that the oil wouldn't last.
In 1971, the United Arab Emirates was formed to safeguard the area's prosperity and ensure that the vast and newly discovered riches would be distributed fairly. And since the formation of the UAE, it is fair to say that the country has not looked back.
Leadership and vision allowed the UAE to push ahead with ambitious building and social projects and in the space of just half a century, Dubai exploded in growth, building modern wonders such as the Burj Al Arab and Burj Khalifa now so widely associated with Dubai. The most impressive thing about our rapid growth is that, largely thanks to the visionary leadership of the government, the infrastructure that has been built will see Dubai continue to thrive. "Impossible is an illusion nesting in the minds of the unable," said His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai. And that has been the drive behind most of Dubai's development, home of the Spirit of Possible.
