Dubai Bubble

People keep talking of the “bubble” in Dubai and when it will burst blah blah. Well you only have to look at thr stats of how many people are actually moving into the City to see that there will always be a lack of housing unless more comes on line fast.

I guess it’s a bit like the chicken and the egg. Which came first? LOL

I really doubt its a bubble, even if it is its going to take at least another 50 years for it to burst.

Ismail Shihadi’s last blog post..Cityspace AD sells out !!!

i wanna see ur country i like all this fotos of ur country

I hope not to offend you guys but there will be a bubble and when it blows I am going to get some on me in Michigan:)

Point is I am moving to Dubai and want it to continue and i will always make money as one man but for the larger picture i believe there will be a forclosure market like never before amongset other collapses
Good luck Dubai

M

I am truly amazed at how fast this city is growing. As long as there are jobs money is moving. To M wise, being a buckeye I would like to say the a lot of jobs have left Michigan and are also leaving ohio too. The sad thing about life is money does not stay in one place.

Well, it depends on what the people want. But it is important to note that everything has its own limit. Money is not everything.

I am from dubai, and now i am in maryland for few months b4 i go bk to dubai. let me pple tell u about my opinion of US.Services Here are so bad,The tax is high,The economy is fucked!,The Oil is 3.99 (best price u cn find) in dubai its about(2.00$)The US government wanna start war!! Dubai is Not Babble.Dubai accounts for about 6 per cent of UAE Oil.Dubai’s economy grew around 16 per cent in 2005 to be worth an estimated $37 billion according to a statement from the Dubai Department of Economic Development (DED).

This rate of growth is expected to beat that of China, acknowledged to be one of the fastest growing economies in the world today with a growth rate of 8.5 per cent.
http://www.internationalreports.net/middleeast/dubai/2006/gdp.html

Thats for all ya

Dubai is really amazing. i never thought it is such a beautiful city. Kudos Dubai

i havent been to Dubai n have always wish to go there… in pics its looks so amazing n heard a lot abt it…
will b there soon… yyyeeeiiii.. :))

The pics look great–will it really ever get done though?

I totally agree with S.J and Marin M Wise… I have lived in the USA all my life and all I see is its not where I want to spend the rest of it…The world is needing to wake up and realize that America isn’t the stereotypical “PROMISE LAND” I have heard so many say from other countries. I have friends around the world and from what I have learned, Dubai is where I wish to be…thanks for sharing…Tonya

[...] powerhouse, also serving as a tourist center and travel hub between Europe and Asia. The growth is real—presently, 25% of the world’s construction cranes (30,000) are operating in Dubai. [...]

First off, I am European but let us get down to reality with Dubai. It is a small city in a small desert in a volatile and radically religious geopolitical area. It has no natural resources but wind, sunlight and oil. The fact of the matter is that the government there knows one of them is running out very soon and they need to build something to sustain their country. Problem is that when the money runs out, trust me it will soon with slowing down of investment and this kind of trading, all the foreigners and immigrant workers will leave. By the way Dubai is built on the backbreaking bones of people in serious poverty and they usually leave Dubai with little or nothing. Build it and they will come does not work without having a secure water and food supply. Sadly it will just become a ghost town in the desert. Question is when?

I think you are correct. Things are already starting to shift and the gov is beginning to rethink. A 50% capital gains tax might change things

http://internationalpropertyinvestment.com/dubai-property-investing-%e2%80%93-goodbye-to-the-speculators

Dear All

Recently i have been thinking about buying an apartment, the first place that comes to the mind is of course Dubai Marina, eventually i got a clue and started driving around Dubai Marina, the construction is amazing, many towers are complete but empty, even on Sheikh Zayed Road, all these high rise building except for Emirates towers, are all advertising: Office to let, they are virtually empty, the size is huge and tenancy rate is less than 5%, so why all this building and at such high price, i really think its just a matter of time before prices dive down, some projects already behind schedule in Marina (Ex. Marina Pinnacle). Some say this place is like Singapore 10 years ago, i disagree because singapore system is so efficient and thats what attract people to it, even singapore had a bubble

OK i LIVE in dxb, and i like it true, but its mostly just sumthin fancy yet empty on the inside. ITs great to come visit not so great to live, and when u talk about the USA, you can never judge it like a whole u have LA, NY, Chicago, Miami, the list goes on and on, NY for one is AMAAAAAAAAAAAAAAZING btw, i LOVEEEEEE THT CITY< and dubai is great it will never be a NY, tht title dsnt come with building buildings no one lives in. It comes with a mix of many things.

Dubai is a massive startup, with strong venture capital behind it. Like any startup, it is important to think grand and portray confidence. You do that in the hopes of achieving sufficient escape velocity that you are able to soar well above your competitors - in Dubai’s case the other major tourist and financial cities of the world. But like a startup, you also run the risks of aiming too high. Dubai is spending like crazy - using oil money that will dry up soon. As it is essentially now an all new city, it does not have to face the same issues of an aging infrastructure that established cities must struggle with. In the years to come though, those issue will come. If Dubai ends up having too much infrastructure for the city they have built, the costs of maintenance will quickly overwhelm the budget when the time comes to balance the budget rather than deficit spend like crazy. It remains to be seen if Dubai can attract enough super rich people to make this all work. I would bet against it.

Thanks for the input all.

Grant - I like your assessment. I feel it could go either way, and even they cannot know the likely outcome.

My thinking is they will tax the hell out of it at some point in the future - they will have no choice.

As beautiful and awesome their skyline is looking. I would not sacrifice my freedom for any of it! No wonder they wanted to buy all the american ports. They need to sustain that capital, they need to relax they’re strict muslim laws in order to get long term migration. Seperate mosque from state! Of course i wouldn’t know, not having been there.

Hi all. I just checked some statistics regarding freshwater resources for my blog book at thebookofw.com.

The stats are here:
http://maps.grida.no/go/graphic/freshwater-availability-groundwater-and-river-flow

They state that U.A.E along with Egypt has a challenging freshwater situation. So, I would be interested to know how they are planning to generate freshwater in Dubai to support the massive growth?

In Dubai, the spirit Abraan Father live, in your absolute power.
The glory of arab people is evident, in a building construction city.
Im happy, because, this people waiting therefore many time;
Now, is your time. Grace God.

Charles - I have to agree, although you could say the same of the US

Thanks Tomi.

Jair - Don’t kid yourself. There is nothing glorious about some of the monstrosities being built out in the desert.You lost me with the word God.

i didnt like the way u talk about dubai im from dubai and its more than amazing ..in dubai there is no diffrent between any religons … i dont blame u maybe u didnt come here befor thats why u r talking like that but dubai is full of us and uk people …

Never mind the Bubble….just wait for the next Tsunami then we’ll see how long Dubai will last!

Miss whatever. Fortunately for me, I live in a free country where I can say whatever I like without fear.

http://cominganarchy.com/2008/07/25/3746/

Gary - Only time will tell.

Mark …. well i can say whatever i want without fear either ..any way ur opinion not ganna change anything i know that dubai ganna be the best place ever … i dont know why u r angry !!!!

will see

OK - You can say and do anything you like without fear. I must have misunderstood the laws in Dubai.

What makes you think I am angry though?

hi all

in my opinion dubai is the greatest city of all
its modern fun and it has a wonderfull cultural. so mark i think your absolotly wrong and clearly you didnt see dubai because if u saw it u wouldnt say the things u said so i wish all the best for the peaple of U.A.E to rise up more and more

Oh I have seen it. Who are you though? A faceless no one. Just check the recent news and see what is now happening.
http://internationalpropertyinvestment.com/category/uae/dubai

I live in Brazil, I am of a very different language, I attended a program in television that showed Dubaí and their great constructions, give of that day, I was very curious to know more on Dubaí then here am, besides onlooker, I was also with a great will of traveling for Dubaí as a tourist.