Business does not equate to a renaissance. Your confusing money with values and culture.
Islam is an ideology disguised as a religion and a cancer on the earth.
Actually the Renaissance in Europe involved the resurgence in growth and learning that tempered the rigid shackles of the Roman Catholic Church. It involved the church but the growth in learning led to the exploration of the world and an explosion of business and trade.
The narrow religious bindings of which you speak were broken allowing expansion and growth of life. It was a Renaissance....
The buildings and resurgence in Dubai is like that in Florence, Venice and Rome hundreds of years ago.