The government's decision to diversify from an oil-based economy, and to make Dubai the main hub of tourists in the world, has made and other developmental projects such as Dubailand, more valuable, resulting in the property boom from 2004 to 2007.
[5] However, due to the Great Recession, several mega projects were put on hold, including the Palm Islands, Dubailand, the Arabian canal, Dubai Exhibition City, The Lagoons, and Jumeirah Garden City.
Construction on Palm Jebel Ali and The World Islands were expected to be resumed in 2010, however recommencement has been further delayed.
[8] A report published by Forbes on October 22, 2012, says Dubai recovered faster from the Great Recession faster than most other countries and now its economy is growing in a higher rate than its counterparts because of its zero tax policy and economic free zones.
[11] In November 2012, Sheikh Mohammed bin Rashid Al Maktoum announced fifteen new projects worth more than $187 million.