Ad hoc message to Dubai from TEDx

I attended TEDx, an independently organised version of the TED conference, last Saturday. TED, an academic organisation, claims to be ‘well-known for its annual, invitation-only conference devoted to ideas worth spreading'. ‘TED is famous for its lectures, known as TED Talks, which originally focused on technology, entertainment and design, but have now expanded in scope to a broad set of topics including science, arts, politics, education, culture, business, global issues, technology and development'. I have watched many of their talks through their website and have found them enjoyable, stimulating and inspiring; I do not describe people or things like that very often.

TEDx Dubai was organised by two gentlemen who were determined to pull thisoff. Kudos to Giorgio Ungania and James Piecowye.

A number of opinion pieces and reports have started appearing discussing how the worst of the economic crisis is behind us. I have been thinking about what post-crisis Dubai looks like. What will its drivers be and who and what will it focus on? I started developing ideas which were confirmed at TEDx. The voices were loud and clear; they were demanding of themselves more than they were demanding of anyone else.

New trend

Yet it is too early to celebrate the end of our worries (and losses), not because the rebound is still far on the horizon but because of the realisation the role the government must play in this next crucial phase has been delayed by a new trend, the trend of exporting the business cluster model abroad — mainly to cities in the Indian subcontinent and the Mediterranean region. This thinking is championed by a school of thought that believes that the current model is not flawed but was unfortunately victimised by the crisis. The return of a 15-month-old government affiliated real estate developer to Cityscape this year is proof of this.

And so I believe that it will take an additional two to three years of this exporting exercise, after which there will be a major realisation that while this may have made financial sense, it would have had little effect on Dubai as a city.

What Dubai — the city that remains an aspiring metropolis — must do is far from leveraged buyouts and geographically diversified portfolios. A new Dubai will emerge that will realise that a small, agile government that doesn't invest but rather facilitates investment is far more successful. This government model will spin off by way of privatisation of most of its non-strategic assets, for example its real estate portfolio, business and tourism related services, and will use the proceeds to invest:

• Improving the state of health care;

• Renovating schools and universities and making tangible strides towards the development of our educational output;

• Continuing the drive towards world class infrastructure and specifically addressing the hygiene grid;

• Appropriate investment and associated regulation that will allow the emergence of a creative industry that ranges from art to gaming with literature, theatre, film, music and design in between.

Other things that do not require significant capital expenditure but are just as important include:

• The introduction of clear and binding regulation of the property sector. This goes beyond the arbitration of disputes and approaches urban planning concerns such as façade preservation and stimulation of mobility;

• The deregulation of creativity, e.g. some level of easing of zoning restrictions together with revised licensing fees for small businesses.

If Dubai realises that for a city that aims to become a hub of trade and innovation it has the above laundry list cut out for it and is able to make this transformation then it may well become a city that is greater and more influential by way of its model than it could ever have been at the height of its property boom. Dubai could very well become a factory of innovation and entrepreneurial creativity whose constituents will gladly pay a healthy income tax rate for living such a ‘good' life. Dubai not only can but will evolve this way. Its people demand it. If you doubt me, just ask anyone who attended TEDx.

Mishaal Al Gergawi is an Emirati commentator on socio-economic and cultural affairs in the UAE.