1996: The Dubai shopping festival and the Dubai World Cup are launched and happen to become very popular annual events.
1999: One of the tallest hotels in the world, the Burj Al Arab opens, enhancing Dubai’s reputation further as a tourist destination.
2003: Dubai is recognised by The International Monetary Fund and the World Bank, as a financial hub. Also, at this time the property market in Dubai suddenly grows due to the introduction of freehold properties.