Dark Side of Dubai

[gurey25]

hell yeah its over..
and oh what a bubble it was..

on the brightside, traffic has reduced visibily..
and rents have started to come down.

[AbdiWahab252]

Gurey,

Hope you got out while the going was good

[Grant]

I miss your comments around here, Lefty. Are you still on the West coast?

Does this downturn relate to the general economic picture, or is there something more peculiar to Dubai involved?

[gurey25]

hey grant ,

i havent been commenting that much on Snet these days,
ive got work to do finally.... no more lazing off in the shiisha cafe downstairs while my trainees do all the work..
lol..

yeah im communting between lagos and dubai these days, thats why im busy....


yes this is due to the general economic situation, dubai has heavily leveraged itself
and 90% of the funds fueling its growth was due to direct foriegn investment,
petroluem only makes up 5% of dubais economy..
another reason was that dubai really went all the way, the projects were just too much,
too ambitous, one of the projects put on hold was the mile long street of hotels.. i forgot the name..

Abudhbai on the other hand is unaffected by the turmoils, it has invested its petrodollars shrewdly and its growth was not as ambitously planned as dubai...
ofcourse having oil reserves that will last 100 years at currenty production levels count..

abudhbai is one of the few places today hiring aggresively...

i grew up in abudhabi, and ive always prefered it to dubai...


now i have one more excuse.....

[Ina Baxar]

Bullshyte !! nobody forced anyone to come to that place like the sheikh has said .
His mother was given 1 orange as a gift for marriage ..and she used to get water from the well with a bucket every morning .
I support them !