With record oil prices, Persian Gulf nations are in the midst of a historic wealth transfer that is paying for soaring skylines and boomtown ambitions. Take, for instance, the United Arab Emirates, where Dubai and Abu Dhabi are reinventing themselves as world-class centers.
Workers scramble up scaffolding at a construction site in the Dubai Marina district. Nearly all of the construction uses labor from outside the United Arab Emirates.
Dubai Rides
the Oil Boom
With money pouring in faster than ever, the city's ambitions soar.
An aerial view of the man-made palm tree-shaped islands in Dubai.
6 Dazzling Dubai Developments
Tallest, largest, boldest: Dubai's growth is expressing itself in superlatives.
Partygoers dance at the Elegante nightclub, in Dubai's Bur Dubai neighborhood.
Photo Gallery:
Dubai In Transition
Amid all the construction sites, Dubai definitely has a glamorous side.
A model of the Guggenheim branch to be built in Abu Dhabi, UAE. The design is by Frank Gehry.
Creating a Cultural Oasis In Abu Dhabi
Less flashy than Dubai, this oil capital is investing in the arts and technology.
Crown Prince of Ras al Khaimah -- Sheikh Saud bin Saqr al-Qasimi
Sheik Models America's 'Can Do' Attitude
In Dubai's shadow, Ras al Khaimah's leader wants a piece of the action.
United Arab Emirates businessmen are seen in the Dubai Financial Market Center during the official opening ceremony in the Trade Center in Dubai.
Abu Dhabi’s
Buying Binge
Flush with oil money, its sovereign wealth fund draws scrutiny and controversy.
PHOTO CREDITS, Clockwise from top: Dubai Construction: LAUREN LANCASTER/VERAS for USN≀ Scale Model of a design by Frank Gehry; Sheik Saud bin Saqr al-Qasimi: KEVIN WHITELAW for USN≀ Financial Market: KAMRAN JEBREILI/AP; Nightclub: LAUREN LANCASTER/VERAS for USN≀ Palm Island: AHMED JADALLAH/Reuters; Construction Site: LAUREN LANCASTER/VERAS for USN&WR
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