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Dubai was just beginning to expand in 1972.
Dubai has just started to spend its Oil Revenues. The first major project was the construction of Port Rashid. The new Port was located on what had been a beach. Land was reclaimed to build the Port by dredging the sea bed in the same way Palm Island and the other modern offshore developments are being built today.
With Port Rashid opened, cargo started to flow through Dubai. But there were still large tracts of undeveloped land. Sheikh Rashid auctioned these to locals encouriaging them to invest their money in Dubai.
