If you are going to be working in Deira, you should give consideration to living there too. There are plenty of very nice apartment buildings in Deira, especially by the Creek. I would try & avoid travelling in & out of Bur Dubai at peak hours as the traffic there is dreadful.

Deira has loads of decent hotels and bars.

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Column in The National newspaper 21/11/09: http://tinyurl.com/ykqccqb