Some key quotations:

"I came here for the scale and because they [the leadership] think about something and it happens," says Mr Atallah. "That's what makes Dubai the destination of choice for professionals from the region and beyond."

Follow-through.

That is what this quote tells you.

There is a disease in the region of announcing big reforms, projects, etc. and then nothing or very little happens. Not by bad faith, necessarily, although that occurs as well, but simply a lack of follow-through. Poor planning, lack of realism about capital, human and financial necessary, etc. Unrealistic, prestige driven deadlines, the very State centered conception of economic development - one might say that the American project in Iraq was very Arab in its execution and even in its rather magical conception.

Ironic that.

But then this American government has struck me as very Arab in its habits. I do not mean that as a compliment.

Ambitious and dynamic, Dubai has become the city of Arab yuppies, an oasis where business thrives as if unaffected by the turbulent politics around it.

While the Middle East conjures up pictures of conflict, youth unemployment and radicalism, Dubai, growing at more than 10 per cent a year, has carefully nurtured its reputation as a centre of economic opportunity and prosperity during the regional oil-driven boom.

According to government figures, non-nationals make up nearly 80 per cent of the 4.1m people living in the United Arab Emirates, which includes Dubai. The population has been growing at about 8 per cent a year.

It is quite clear, I may add that the pace and conceptualisation has outstripped real planning capacity, but the image of success and even a real degree of actual success continues to be attactive.

Significantly:

"For Arabs, Dubai offers an alternative to going to the US or to the west, which has become more of an issue after September 11," says Mr Atallah.

"This place separated politics from business, and it has worked extremely well: people don't drink coffee and smoke during the day, talking about politics."

Alternatives to frustration. Dubai gives the sensation that one can get ahead. Reality may be something different, but in comparison to other MENA countries, well, it is a reality even.

The quality of life too has deteriorated over the past 12 months, say residents, as salary increases fail to keep up with rising inflation, largely driven by skyrocketing office and housing rents.

See supra re capacity.

They're not building affordable housing for the non-Euro expat class. The transport infrastructure has become nightmarishly bad.

"Dubai takes advantage of the troubles of the region but it doesn't pay enough attention to the clash between local businessmen and foreigner, to the issue of identity, and it's becoming very expensive."

Abdelaziz al-Ghurair, the head of Mashreqbank, says Arab professionals are willing to pay a price for the "Dubai brand" but he acknowledges that if inflationary pressures continue, the emirate could lose its comparative advantage.

Above all as ability to save goes down and as other countries take note of the Dubai example and liberalise to a degree (although some are clealry taking a Statist Dirigiste lesson, thinking they can spend like Dubai. A false lesson, but....)

But perhaps the key quote:

"People in the region aspire to live and be part of life and if there is a city or a country that puts the main building blocks to satisfy such a dream, it finds that people are waiting," says Mohammed Alabbar, Emaar's chairman and one of the Dubai ruler's top advisers.

This is very, very true.

Mr Alabbar says that is what Dubai aims to achieve. "We hope to become a platform to send talent out as well. A lot of people are coming to work in our organisation and hope that the term 'Dubai-trained' can help them go back to their countries and contribute," he says.

For all that I see problems with Dubai trained in terms of slip "alien setting."