Nah, there's this one University in Dubai which is GOOD. It's called American University of Sharjah (AUS) and Sharjah is like just a stones throw away from Dubai. They've got pretty good requirements, like an ABB, which is high according to Dubai standards. And as far as I know, AUS is mainly a science oriented Uni, namely engineering. Lot of my friends graduated doing Civil Engineering and have wound up in awesome real estate construction jobs that used to pay well (of course, not any more). Fees are a bit high in AUS, the campus is really awesome too, and it is undoubtedly currently the best university in UAE. Questionsing AUS' reputation in the UAE would be like questioning Harvard's reputation in the USA.
And speaking of Harvard, I heard Harvard is in the process of opening a Harvard Medical School in Dubai.