While there are bargains to be had - even more so now the exchange rate is around AED7 to the pound, compared with AED5 five years ago - it’s definitely a case of caveat emptor as some items are overpriced by Western standards (books, magazines) while others, notably gold, electronics and textiles, offer value for money. Gold and electronics consistently rank as the top-selling sectors by category at Dubai Duty Free, which together with the Gold Souk, is probably the city’s most well-known shopping experience.

Propping up the vast retail scene are the souks on either side of the Creek waterway - spices, silver and gold - which are as much a tourism feature as a retail attraction. In tandem with the property and construction boom, the next two years will see retail supply rocket which, depending on who you talk to, is either a shrewd move tailored to meet future demand or one massive oil-diversification gamble.

The Dubai Government clearly believes it is the former and aims to have 15 million hotel guests by 2010 which, if they do all turn up, will mean an awful lot more shoppers. In the mean time, the development continues apace.

Dubai Festival City, a 4,600-acre retail come leisure emporium, opens in phases from the end of this year in the heart of the city while Mall of the Emirates - which includes an indoor ski slope - opens next to the main Sheikh Zayed Road highway next year. Upmarket complexes are also earmarked for Burj Dubai (tallest tower), Palm Jumeirah (Golden Mile) and recently announced Dubai Waterfront next to Palm Jebel Ali.

GOLD

Although the price of the precious metal is fixed - currently AED 46 (£6.50) a gramme - you can haggle over the workmanship, although it won’t amount to huge savings. Prices are fairly consistent, whether you head to the tourism honeypot of the Gold Souk or any independent jewelers elsewhere. The Gold Souk is lined with shop windows glinting with bracelets, necklaces and ear-rings in 18, 21 and 22 carats. Bars of 24 carat in any form and weight and bullion coins in 24 and 22 carat are also available. If you have money in your pocket and want to buy from a reputable name visit Alukkas Jewellery or Damas which have some striking designs. Dubai Municipality regularly undertakes spot-checks of outlets to ensure they all fit carat standards so again, you can be assured you’re not buying a glistening imitation.

SHOES

Everything from sandels to top-brand stilettos are sold in Dubai. Ladies looking for mid-market options could do worse than Zara or Aldo at the huge Deira City Centre but anything leather is pricey (men’s black shoes at Chic Shoes cost £95. You can pick up children’s shoes at the Bur Dubai souk by the Creek (£4 a pair).

SUNDRIES

Carrefour at Deira City Centre is a a 53-checkout monster hypermarket selling foodstuffs, electronics, clothing and household items at reasonable prices. A sturdy suitcase costs £18, microwaves from £23 and a Samsung 43-inch TV, £620. DVD players range from £19 to £250. You name it, it’s here.

CLOTHES

Splash (Oasis City Centre and an outlet in Karama district) sells extremely reasonable clothes: a blue sleeveless top costs £4 while a pair of jeans is priced £7.50. Zara (Bur Juman and Deira) is more expensive but sells trendy clothes for men, women and kids (£20 for a polka dot dress). Head to Diesel at the recently expanded BurJuman Centre if you’re into brands and not afraid to pay £114 for jeans or £92 for a denim skirt. If you want to return home with something of a regional flavour, visit Deepaks in Bur Dubai, which has a range of hip Indian outfits and colourful saris.

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