Despite the economic gloomy after years of spectacular growth, Dubai’s ruling Maktoum family did not disappoint in unveiling the city’s new metro in red-carpet fashion that has become synonymous with this city-state.

With lasers beaming, Shiekh Maktoum inaugurated the first metro network in the Persian Gulf on the purposely chosen date of 9/9/09. Dubai’s rapidly rising population has greatly increased traffic. There are over one million cars in the city, and while several major cities boost more; Dubai has yet to develop the roads necessary to accommodate such traffic in proper time. The metro is meant to reduce some of the street traffic (more on that later).

A Japanese firm won the contract and in just four years has complete the first phase of construction. It will be expanded in another five years. The metro is both futuristic in outside appearance and interior design. It is entirely computer-operated - the largest such train system in the world. And its Union States is the largest metro/train underground in the world. It also features a first-class cabin where tickets cost 7x the normal fare and a women’s only cabin as well. The price tag for such a metro is not cheap. Once completed, it will cost an estimated $7.6 billion and will cost an additional +$1 billion to operate a year.

This raises the question of whether at a time when Dubai is facing slower growth and debt between $80 and $120 billion if such costs are worth it. It is not entirely sure if the metro will be making a profit anytime soon. Dubai’s working class, often neglected or enslaved, will surely benefit from such a transport, but its elite may be hard-pressed to leave their AC cars. The metro is, of course, air-conditioned but as The Economist recently noted many of these people may not want “to walk even short distances in the punishing summer heat” instead of parking in a office garage.

Nonetheless, the metro will probably make a profit at sometime. Dubai’s ambitions have not shrunk and every major city needs such a form of transportation. Enjoy the ride: