The beauty of bubbles
“…The fireworks could be seen from space (allegedly), putting China’s Olympic displays to shame. Hollywood celebrities studded a guest-list of 2,500 people. Kylie Minogue, a diminutive Australian singer, cavorted in a gold and black corset designed by Jean-Paul Gaultier. Guests consumed an estimated 1.7 tonnes of lobster… The launch party for the Atlantis hotel in Dubai on November 20th was a perfect, noisy finale to the world’s latest age of excess. But its loudest echoes—the man-made islands, the iconic hotels, the overheated property market, the celebrities and the sun—are from another, more distant time: south Florida in the 1920s…”
“…Property in Dubai is one of the best long term property investments around as the cancellation of development projects will reduce supply, it is claimed… London based property adviser Mohammed Kashani-Akhavan said that property investors should have confidence in Dubai's future prosperity. He has such confidence that he took a full page advert out in leading newspaper Gulf News to make his point… 'Dubai is one of the best cities in the world for property investment in the long term. It is a great time to invest because the golden rule of successful property investment is to buy low when everybody else is selling,' he said…"
“…Dubai Drink Technology Expo is the first non-alcoholic Drinks and liquid Food expo ever organized in the Middle East and North Africa Region, The Dubai Drink Technology Expo. scheduled to run from Sunday 14 to 16 December 2008, at the Dubai International Convention and Exhibition Centre, Zaabeel Hall… This high profile exhibition presents worldwide range of products and services in the area of beverage technology and liquid food. Dubai Drink Technology Expo offers the state-of-the-art technology, logistics solutions, and raw materials for every type of beverage and liquid food for the entire industry, which constitutes a vital element to the consumers all over the world..”
“…Ten years after the opening of the Burj Al Arab, Dubai has plans for tourism that would make its architect quake. Not only is the once-iconic hotel now dwarfed by the Burj Dubai, the world’s tallest skyscraper, but it is significantly shorter than almost every new building in sight. And, with 15 to 25 per cent of the world’s cranes currently in operation in Dubai, that is a lot of buildings…”
“…Leighton Holdings continued to shrug off expectations it may soon succumb to the looming construction slowdown in Dubai by announcing its involvement in a 4.9 billion dirham ($2 billion) building contract for Dubai Airport's expansion…The news comes two weeks after the 45 per cent Leighton-owned Al Habtoor won a $3.7 billion contract to build the world's largest building, the four 73-storey tower Dubai Pearl…The Dubai Airport project will involve building a new concourse 645 metres long that will connect to the airport's recently opened Terminal 3 and include two hotels…”
Dubai govt entities get negative ratings
“…Standard & Poor's Ratings Services has revised its outlook on the ratings of six Dubai-based Government-Related Entities (GREs) to negative from stable… The entities are: DIFC Investments, DP World, Dubai Holding Commercial Operations Group, Dubai Multi Commodities Centre Authority, Jebel Ali Free Zone (FZE) and JAFZ Sukuk… At the same time, all ratings on these entities were affirmed. 'The outlook revision reflects the impact of the difficult global macroeconomic and financing environment on the emirate (not rated), to which the ratings on these six entities are directly linked,' said Standard & Poor's credit analyst Farouk Soussa…”
3 comentarios:
Money is not there in the market and the problem with Dubai is that it is still quite dependent on oil revenues for running its economy. Now what happens when crude oil touches a high of $147 and then dips to the current level of $36 a barrel. Dubai is facing huge financial constraints.
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The world over financial uncertainly is growing and everyone is involved in speculation as to what will happen next. Japan and many EU member nations are facing contracting of their economies. But all's not lost and there are some good noises coming from the latest Citigroup report on Dubai property. In a thumbs up to the Dubai Property Market the report ruled out a collapse in the Dubai freehold property market. http://propertyindubai.info
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