Old 04-10-2008, 03:28 PM Offline   #1 (permalink)



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Default All these projects in dubai...

with their main resource running out, and them spending money like there's no tommorow, do you think all these projects would pan out in their favor? 20-30 50 years from now?
 
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Old 04-10-2008, 03:31 PM Offline   #2 (permalink)



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All these buildings and the people that are gunna live there, how will they be supported? I mean obviously they will be working in "services" but dubai itself is just like another singapore. Can it really survive in the global economy on services alone with no tax base and no manufacturing and agricultural economy to back it up?
 
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Old 04-10-2008, 03:32 PM Offline   #3 (permalink)



 
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considering the fact that less than 6% of the city's income is from the oil sector, i wouldn't consider the fact that oil is running out to be such a big deal


do some research.. theres plenty of manufacturing going on here

businesses are rushing to open here

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Old 04-10-2008, 03:33 PM Offline   #4 (permalink)



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Dubai's infrastructure is seeing so many gains that they really are basing their future funding on pure tourism. There will be absolutely NO WAY for Dubai to properly fund every aspect of it's highly liquid projects.

Read this book and you'll realize:
Rigged by Tom Mezrich
 
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Old 04-10-2008, 03:34 PM Offline   #5 (permalink)



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There is a thing called hype. I suspect dubai is currently running on a lot of hype and little solid bricks and mortar types of businesses to balance things out. Real estate prices are phenomenally high right now in dxb but when the economic boom is over there will be a high vacancy rate(similar to the petronas tower in kuala lampoor) and then guess what. $600 billion worth of concrete on sand will suddenly be worth closer to its fair market value of $200 billion or so. Zat is what I am talking about--part of what I am talking about anyway.
 
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Old 04-10-2008, 03:36 PM Offline   #6 (permalink)



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Originally Posted by $MsBling$ View Post
considering the fact that less than 6% of the city's income is from the oil sector, i wouldn't consider the fact that oil is running out to be such a big deal

what a big suprise that is. fuckin greedy shaikhs.
 
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Old 04-10-2008, 03:37 PM Offline   #7 (permalink)



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Even the "services" being provided are dubious - it is just a place to keep corporate offices for foreign companies and save on taxes - not R&D services, manufacturing base, operational support. That will be abundantly clear when the oil starts to run out (and with it all the money that is used to build this gaudy stuff), but that's at least 30 or 40 years away. Until then, party on.
 
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Old 04-10-2008, 03:40 PM Offline   #8 (permalink)



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do they even have the population density to do this? lOl
 
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Old 04-10-2008, 03:41 PM Offline   #9 (permalink)



 
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^ i don't get that comment u made 2 posts up

but other than that.. honestly, its so hard to tell right now.. it could go ANY way.. people were expecting the bubble to burst a couple of years ago.. and it still hasn't.. it may have started off as hype, but sometimes hype gets so built up that people make it real.. and that's what could be happening here.. yes, it was similar to singapore at first, but not anymore.. dubai has large factories set up in jebel ali, its got massive ports, its got a population and economy which is constantly growing.. yes, a lot of its money is being made off tourism, but there are a lot of businesses that are starting to move operations here and base themselves here, so it could really lead to something

besides, the city is brand spankin new.. you really cant expect it to be up on its feet and running like NY or London.. it has its pros and its cons, but i see it being just fine, and just like NY in the long run
 
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Old 04-10-2008, 03:45 PM Offline   #10 (permalink)

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