Dubai Faces Unprecedented Rainfall and Infrastructure Woes
Dubai experienced its heaviest rainfall in 75 years, causing widespread flooding and significant damage to the city's infrastructure.
On April 16, Dubai was showered with rain, as the city recorded the largest amount of precipitation in 75 years. The local infrastructure did not cope with this natural disaster; many areas of the streets were simply under water. It is worth noting that Dubai does not possess a developed enough drainage system, as it barely rains in this region. This will put the city’s investment functions in jeopardy as most investors do not understand how safe their assets are under such conditions.
Speaking in numbers, during the showers, about 1,000 flights departing from the UAE were canceled, and 21 people were reported killed as a result of the disaster. Floods can make investments in the city risky for wary investors. Add to that the fact that the meteorological situation in the world is constantly changing due to climate change, such rains can now be expected in Dubai not once every 75 years.
On April 21, Wamda reported that the Dubai government will allocate $544 million to restore infrastructure. Three days earlier, the UAE Central Bank announced the allocation of financial support to residents affected by bad weather. In particular, this assistance is expressed in giving the victims an extension of up to six months for repaying their debts. Such measures are part of the government’s plan to restore the invested funds’ safety in the city.
