• You are here
  • Home
  • Archives for 2009.03
  • Monday, March 30, 2009

    Nurai Villas and Resort

    Probably the most underplayed luxury development in Abu Dhabi and the world, and for good reason - most people won't be able to afford it. Current prices range between 30 and 85 million Dirhams. Newsweek did call it the "Most Luxurious Project in the World", and you need only look at the pictures. Financial slowdown just doesnt affect some people in the way that it affects most.

    Nurai is a 3.3-million-square-foot (equivalent to approximately 306,000-square metres) private community, of limited edition resort beach-front estates and water villas, on a natural island near the northernmost tip of Saadiyat Island. The design concept of the island will provide residents with abundant stretches of land, thus guaranteeing their privacy. Since most of the island will remain untouched by buildings and structures, landscaped greenery will envelop the residents in its folds. The water villas will extend into the ocean, while the beachfront estates are to be integrated into the landscape.

    Here's the brochure spiel - it does sound exciting in a wish I was king kind of way, but as I know some of you CAN afford this kind of paradise, you need to know:

    Nurai is the Emirates’ most sought after private island - an island of inspiration, delighting the senses and offering lifestyle without parallel. Designed to provide residents with generous plots of land, panoramic sea views and the utmost level of privacy, Nurai is home to a single, world-class, boutique resort and a limited number of breathtaking exclusive Beachfront Estates and Water Villas.

    Nurai houses a distinctive collection of limited-edition beachfront estates of 12,750 square feet which sit on generous plot sizes ranging between 30,000 – 80,000 square feet as well as luxury contemporary water villas of 5,540 square feet, which offer an unparalleled over-water living experience. In total, there are 31 beachfront estates with prices starting at 60 million dirhams and fifty water villas with prices starting at 35 million dirhams.

    Watervilla Beachfront Estate

    Each perfectly designed residence includes a private beach with unobstructed sea views, exclusive private amenities, pools, docks, and boat slips as well as the luxury facilities of the Island, 24 hour service access from the hotel, a celebrated brand luxury spa, world class fitness centers, and a multitude of water activities.

    * Nurai is just minutes from Abu Dhabi’s key upcoming projects.
    * 5 minutes by boat from Saadiyat island: home to the world’s largest single concentration of premier cultural institutions including the Sheikh Zayed National Museum designed by Lord Norman Foster, the Guggenheim Abu Dhabi Museum by Frank Gehry, the Louvre Abu Dhabi universal museum by Jean Nouvel, a performing arts centre and a maritime museum.
    * 15 minutes by boat from Yas island: feature attractions such as a world-class motor sports racetrack, signature hotels, the Ferrari theme park, water park, and the Abu Dhabi destination retail development of 300,000 sq m retail area.
    * 20 minutes by boat from Reem Island: an invigorating, world-class residential, commercial and business project set to house more than 100,000 people.
    * Nurai is just under an hour away from key locations in Dubai.
    * 45 minutes by Helicopter from Dubai International Airport.
    * 45 minutes by car from planned Dubai International Airport in Jebel Ali to Saadiyat island, followed by 5 minute boat ride to Nurai.
    * 55 minutes by car from Burj Dubai / Down town Dubai to Saadiyat island, followed by 5 minute boat ride to Nurai.

    Nurai represents an outstanding investment opportunity with prices expected to more than double upon construction completion. Nurai’s guaranteed investment security is due to a number of key reasons:

    * Nurai’s strategic location and proximity to Abu Dhabi’s biggest projects – e.g. Saadiyat, Reem and Yas island – which have put Abu Dhabi on the international cultural ,tourism and commercial map
    * The current structural shortage of good quality space across the various types of real estate – and in particular high end product
    * Strong immigration growth prospects – International partnerships which will see the world’s leading educational and medical talent move to Abu Dhabi – e.g. Johns Hopkins Medicine, Cleavland Clinic, the Imperial College London Diabetes Centre, Sorbonne University and INSEAD
    * Abu Dhabi’s vast oil-driven wealth which is driving economic growth.
    * Reports by leading investment houses and Abu Dhabi’s Department of Planning and Economy concluded that the city’s real estate prices are almost certain to keep rising, at double digits, until 2012
    * Nurai’s resort and residences are scheduled for completion in December 2010.

    Who knows whether they will be complete by then? And who knows if you'll ever get there? AW2. the architects talk about the island completing in 2012 - with 31 villas, 50 water villas and 44 suites, but that's maybe the hotel. Is this the new Maldives?

    Official Site
    Abu Dhabi Dwellings - Prices
    Dror - Architectural Design
    Newsweek Arabic edition Awards Zaya "Most Luxurious Project in the World" accolade at Cityscape Dubai 2008
    Light Over Water
    Nurai Island developer takes the hospitality road
    AW2 Architecture

    Labels: , ,

    Posted by at 1 comment :

    Saturday, March 28, 2009
    Wednesday, March 25, 2009


    Dhimmitude is the word of the day, and if you don't know it, you'll need to learn it to figure out this sword fight:

    Calling the recent holding hands/no kissing law Dhimmitude, this Daily Dish, got the beginnings of a super angry flame:

    I'm a resident of Abu Dhabi and -- I will assure you -- no defender of Dubai or even the Emirates. But tossing around that vile word Dhimmitude -- which belongs to the Charles Johnsons of the world -- is rather a preposterous notion in this context, as is theocracy. I would suspect that in your run-of-the-mill Islamic theocracy I would have a hard time driving to the store and bringing home a few cases of beer, or going to a restaurant to eat a plate of pork and wash it down with a bottle of wine.

    If you can handle it....he continues with his rant

    Dhimmitude - wikipedia

    Labels: , ,

    Posted by at 1 comment :

    Urbanization of Dubai

    On further trawling of the Earth Observatory site, I found my favourite demonstration of Dubai's transformation:

    Labels: ,

    Posted by at 1 comment :

    Dust off the United Arab Emirates

    Anyone rememebr the sand storm, at the end of Feb. The Earth Observatory picked it up.

    Heat and dust storms plagued the United Arab Emirates at the end of February 2009. Temperatures soared to 37 degrees Celsius (98.6 degrees Fahrenheit), the highest February temperatures since record keeping began in 1974. Pushed by winds gusting to 35 knots (65 kilometers per hour), dust storms reduced visibility throughout the region, according to the United Arab Emirates-based publication The National.

    Parallel plumes of dust blow off the coast of the United Arab Emirates and over the Persian Gulf in this image acquired by the Moderate Resolution Imaging Spectroradiometer (MODIS) on NASA’s Terra satellite on February 28, 2009. In this true-color image, the beige plumes of dust partially obscure the satellite’s view of the ocean water. In some places, the dust appears to form wave patterns that run perpendicular to the dust plumes. Neither the capital city of Abu Zabi (also known as Abu Zaby or Abu Dhabi) nor the human-engineered Palm Island Resorts escape the plumes.

    Part of the Arabian Peninsula’s Empty Quarter, or Rub’ al Khali, the United Arab Emirates is covered by sand seas and dry salt lakes. The sand and fine sediments provide ample material for dust storms.

    Check out Nasa's Site for more


    Posted by at No comments :

    Oil Price Expectations

    Oil Price High (July): $150
    Current Oil Price (Now): $53
    Sultan Nasser al-Suweidi (2009) $40-44
    Sheikh Khalifa fair price (2009) $70-75


    Posted by at No comments :

    Tuesday, March 24, 2009

    Torture by proxy

    Naji Hamdan, an American Muslim who had lived in Dubai since 2006, says he was arrested on unspecified charges of promoting terrorism last year and tortured into signing a confession after FBI agents from Los Angeles showed up in the UAE to question him:

    The evidence of U.S. involvement is circumstantial and sometimes ambiguous. Arulanantham said the UAE prosecutor in the case traveled to the United States in February. He said that a week after the habeas petition made public Hamdan's detention, custody was transferred to the UAE criminal justice system, where he faces nonspecific charges of "promoting terrorism." Justice Department lawyers say the transfer lines up with the expiration of a 90-day UAE limit on secret detention.

    The FBI issued a statement saying it does not ask other governments to arrest people on its behalf, but in court papers it stops short of denying the involvement of any U.S. agency in Hamdan's detention.

    "In terrorism matters, we routinely work with foreign counterparts," Richard Kolko, a bureau spokesman, said in a statement.

    You can't hide, even if you are innocent.

    American Muslim's Case Poses a Test

    Labels: ,

    Posted by at 1 comment :

    Monday, March 23, 2009

    The Sheikh Zayed Mosque in Abu Dhabi

    Some great pictures of Sheikh Zayed Mosque - no wonder they are calling it a new architectural masterpiece.

    The Grand Mosque

    See more - Abu Dhabi's newest masterpiece


    Posted by at 2 comments :

    Saturday, March 21, 2009

    Masdar - A Zero-Emissions City in the Desert

    If you haven't yet see the technology review piece on Masdar, it is worth a read, along with the associated video and animation.

    Here's a snippet:

    In the early 1960s, while the United States was rushing to put a man on the moon, electric fans and lights were still unheard-of in Abu Dhabi, according to Mohammed Al Fahim, a native of the emirate who has written a rare history of the place. That was not long after oil was discovered there, and well before the money started flowing. Al Fahim is from one of the wealthiest families in the area, yet both his sister and later his mother died because of a lack of basic health care. Now life expectancy in Abu Dhabi is virtually the same as in the United States. Before, the locals survived on water from brackish wells; now they drink fresh water from new desalination plants. The fragile and highly flammable palm-frond huts that housed most people have been replaced by gleaming glass-and-steel skyscrapers.

    In many ways, the development of Abu Dhabi over the last few decades has reflected a frenetic effort to catch up with the developed world. Now, because of projects such as Masdar City, the emirate has a chance to race ahead. But in terms of urban development, it appears to be very much at a crossroads. In a few years, while the citizens of Masdar City will be pinching kilowatt-hours and using waterless urinals, go-carts will be screaming around a new track at a Ferrari theme park nearby, kids will be shrieking as they plummet down water slides at a new water park, and massive air conditioners will be roaring as they cool a new 700-store supermall. It's all part of a 2,500-hectare development that will dwarf the 640-hectare Masdar City.

    The two developments are competing visions for the future of Abu Dhabi. If the Masdar project doesn't justify itself financially, it could indeed be just a green playground for the rich, an environmental theme park that is largely irrelevant for the development of sustainable technology on a broader scale. But if it is profitable, it could be a driving force for sustainable urban design. Then the oil-rich developers in the UAE and elsewhere might have a reason to build more green cities and skip constructing another ski slope in the desert. And developers worldwide will follow.

    A great piece of journalism and your high level overview of what Masda is all about.

    A Zero-Emissions City in the Desert - Oil-rich Abu Dhabi is building a green metropolis. Should the rest of the world care?

    Labels: ,

    Posted by at No comments :

    Thursday, March 19, 2009

    100 children target for superdad Daad

    It's always amusing to get a status of superdad Daad, Daad Mohammed Murad Abdul Rahman, and where he is at with his baby making. As at March 2009, at 63 years old, he is at 86 children (aged from 23 to 3 months), with 2 on the way, the kids have been fathered through his 17 wives, the eldest of whom is 50 with the youngest at 20. He still has his 1 leg but I believe he has phased his target of 100 children for 2017. It had previously been 2015. There's a mathematical calculation that could be done to figure out how quick a man could father 100 children, with a maximum of 4 wives at a time, not able to divorce any of them before they deliver - and Im sure it would be interesting to work out, but Im not a number cruncher. Enjoy the video!

    For those of you with kids wondering how one would afford any more than 3 kids - well, superdad Daad is bankrolled by one of the Sheikhs in Ajman, where he lives. The Chinese are no doubt jealous.

    Classic quote from the babymaking machine when asked about his secret for the women:
    "Big Powerhouse". Read into that what you will. He also drinks juice and no doubt fertility doctors everywhere will be taking note....

    Labels: , ,

    Posted by at 2 comments :

    Wednesday, March 18, 2009

    Selective Content on Dubai (Video)

    Imagine taking all the negative points, or those that have been construed as negative issues, that the media have portrayed about Dubai, almost as kind of propoganda against Dubai. Then take those clips, ideas and stories and paint it into a story that says Dubai was crazy but look what has happened to it now - and you get a video similar to this one - an unbalanced view of Dubai:

    Send us a postcard???


    Posted by at 1 comment :

    Money never sleeps (in Dubai)

    It sounds like a cheesey American newspaper headline fascinating about the wonders of Dubai and what it has achieved - as well as how much money there is (was) to be made here on the property merry go round. In fact Money never sleeps is the name of the sequel to cult classic movie, Wall Street featuring Michael Douglas as the legenedary Gordon Ghekko. It is being set in New York, London and, fittingly, Dubai:

    Allan Loeb, writer of 21, will write the film, which will follow Gordon Gekko's character, who has just been released from prison after serving a 14-year sentence in jail for insider trading and securities fraud. Gekko embarks on the financial lecture circuit, after releasing a book called "Moral Hazzard," and meets a young Wall Street hot shot, Jacob L. Moore. Moore's mentor has just committed suicide, after his former company, KZI was destroyed. A trader named Brenton Woods is behind the downfall of the company, and Moore seeks out the help of Gekko to get revenge. But in return for Gekko's help, Moore must reunite Gekko with his estranged daughter, who he is engaged to. The film will take place in New York, London and Dubai, and incorporate themes relevant to today's economic times.

    Gordon Gekko returns…

    If you are excited about it, check out this video. Personally, it could bastardise the memory of the first film and be a complete disaster, but speak to anyone who remembers the first film, and they'll at least consider checking it out,thus earning the film big bucks. it's certainly a crazy concept, and very likely to fail, but has all the chances of succeeding - so there may be genius in there somewhere..... No doubt everyone in Dubai will watch it...if it gets through the censors: Gekko is now adept at ­manipulating Russian oligarchs, Emirati sheiks, and Macanese gambling barons.

    Being manipulated may not be the way local Emirati wish to be portrayed.

    Fox hits up Hollywood A-listers to make a sequel to Oliver Stone’s Wall Street.

    Labels: ,

    Posted by at No comments :

    World's Largest Luxury Yacht

    In a day when the Abu Dhabi book fair unveils the world's largest atlas, Dubai and Sheikh Mo unveil this monster:

    Perhaps, the world's largest yacht will need the leatherbound super luxury largest atlas of the world to navigate out of the Arabian Gulf?

    The World's Largest Luxury Yacht Sails Out Of...You Guessed It...Dubai

    Labels: ,

    Posted by at No comments :

    Tuesday, March 17, 2009

    Flickr is banned

    according to Kipp. Verbatim:

    We just discovered that du banned Flickr. The website had already been banned by Etisalat, but we could still access it through our du connection. And now, it’s gone. Why?

    Were the portraits of flowers too racy? Or did the candid photos of the emirates push the Telecommunications Regulatory Authority (TRA) over the edge?

    If there was something offensive on Flickr, why couldn’t the TRA block parts of the website, like what they did for YouTube.

    How many more websites will we lose before the censorship board starts to discriminate sensibly?

    Flickr is banned!


    Posted by at 3 comments :

    Abu Dhabi not buying Dubai

    A headline like no other. You might hear that about Manchester City denying they are interested in buying Kaka, but one emirate denying buying the other in a headline seems a little odd. However, in context it all makes sense. His Highness Sheikh Khalifa has come out and said:

    Abu Dhabi is not seeking to buy Dubai government-owned companies, the United Arab Emirates’ President Sheikh Khalifa bin Zayed Al Nahyan was cited as saying by state-run WAM news agency.

    “There were misinterpretations of the relationship between emirates, who are members in the U.A.E. Federation,” Sheikh Khalifa said in an interview with the Alrroya business newspaper, according to WAM.

    “As for the measures taken on the federal or local levels to address the crisis, they were declared and clear-cut and there were no need to unleash predictions in this respect,” the president said.

    This is an unprecedented step demonstrating solidarity, supposedly, between the Emirates. His highness talks a lot of how the crisis is over egged - and so this is a vote of confidence to the outside world that things are all going to plan...or are not that far off course as the media are portraying it

    'Impact of crisis on UAE is exaggerated'

    Labels: ,

    Posted by at 1 comment :

    Monday, March 16, 2009

    YouTube to be banned in the UAE?

    Sometimes you hear about things in the weirdest ways - these days it is Twitter:

    We heard these rumors in the past, but more and more people seem to be confirming that these aren’t just false alarms anymore and that YouTube will actually be banned officially in the UAE. We can’t be totally sure yet until the site is totally inaccessible for our friends and members there, and according to them no action has been taken yet (despite thousands of other sites being blocked) however many are expecting it. Will the ban fail like it did with Facebook? Is the UAE testing the waters with how much internet censorship it can get away with?

    Not yet confirmed or not yet guaranteed, but worrying none the less.

    Fake Plastic Souks follows up:

    We would be following the exalted example of two of the world's most successful states, Pakistan and Bangladesh if we went for a ban. As KT reports, Bangladesh blocked YouTube last Sunday, Pakistan in February last year.

    Lt Gen. Dhahi Khalfan Tamim was talking to the general assembly of the Juveniles Education and Care Association when he apparently said that YouTube contained content that 'sparked dissension'. He is reported as saying to Emarat Al Youm that 'publishing pornography and defamation is not freedom.'

    Blocking YouTube will further deny Emirati, and other, youth here of the opportunity to embrace a range of technologies and changes in social behaviour that are revolutionising the world around us.

    That we are even contemplating blocking sites that contain content we don't like is a deep concern - the trick is engaging in a conversation, taking part in the interplay of ideas and opinion that is driving the Internet - and the flow of public opinion around the world today.

    Dubai Jazz talks reason:

    with all due respect to Lieutenant General Dhahi, he is a law enforcement officer, he sees the darker side of town every day; murders, riots, drug smuggling...the whole nine yards. He might have come across crimes that were, for the sake of argument, inspired by youtube. But that’s not the grand picture is it? the society, any society as a whole, needs interactive media websites because the benefits outweighs the damages by many folds. Youtube isn’t only about dissent and defamation, it’s also about education, interaction, dialogue and understanding. So a total ban on the website is not the answer.

    Let's hope sense is seen.

    YouTube to be banned in the UAE (awaiting confirmation)

    YouTube Ban in UAE 'on Anvil'?
    Youtube ban?!

    Labels: , , ,

    Posted by at 1 comment :

    Sunday, March 15, 2009

    Manly Women?

    You read that right. Manly women, not mainly women. And perhaps the code word for lesbians or butch lesbians in Dubai. Either way, Naji Hay, an official at the ministry of social affairs, doesn't like it:

    “The phenomenon of manly women has become apparent in society.... These women are against the normal nature of females. Their deviant behavior threatens other normal girls. This is why we had to launch this initiative to protect society from this menace.”

    The campaign, which involves educational experts and psychologists, will include awareness workshops to explain the phenomenon and ways to face it.

    And supposedly if you are a manly woman, you automatically become menacing. Honestly, you can't make this stuff up. Whatever your views, read the article.

    DUBAI: 'Manly' women considered menace to society

    Labels: ,

    Posted by at 1 comment :

    Thursday, March 12, 2009

    A self sufficient Dubai

    If ever there was a view of the future, this would be part of it. All well and good witht the flashy building, but what abotu survival in the future, when the ozone is dead and temperature control means a little more than the dial on your dashboard. The pictures really strike a note with where Dubai could go, along with Abu Dhabi's Masdar.

    Dubai is a burgeoning metropolis surrounded by seawater that relies on imports for nearly all of its food. Addressing the region’s lack of natural resources, Italian architects Studiomobile have conceived of a Seawater Vertical Farm that draws upon local resources to create a sustainable source of food for a cleaner, greener and more self-sufficient Dubai. Envisioned as a spire that branches off into soaring sky-gardens, the design uses seawater to create an ecosystem conducive to growing crops amid the clouds.

    Cmon, admit it - this looks cool, but it aint the kinda cool you would expect from Dubai.

    Soaring Seawater Farms for a Self-Sufficient Dubai


    Posted by at 1 comment :

    News of Dubai’s death has been greatly exaggerated

    Great to hear a positive spin on Dubai for once, or, at least, a balanced one:

    To understand why Dubai will survive, it is important to understand its commercial geography. It is not solely an Arab state – demographically or commercially. It is a commercial and tourist hub for a region that encompasses the growing markets of south Asia, emerging Africa, oil-rich Russia and the Gulf states, Iran, central Asia and the Caucasus, Europe and China. And it works largely because of the heavy infrastructure investment made by Dubai’s rulers and the expatriate traders, service professionals, construction workers, bankers and techies who make up 90 per cent of the population.

    Dubai was never, as one newspaper called it, “The Middle East’s economic powerhouse.” Rather, it was and remains a highly successful entrepĂ´t in one of the richest and fastest-growing parts of the world. Like most entrepĂ´ts, it feeds from and fuels growth.

    Read the whole article at the FT:

    Do not believe reports of Dubai’s demise

    Labels: ,

    Posted by at No comments :

    The Mysterious Money of Mansour

    Sheikh Mansour bin Zayed Al Nahayan of Abu Dhabi is known for money, plain and simple, and he has now entered the Forbes List of the the richest. From nowhere, he has now become a global name. When people think of Sheikhs, they think of Sheikh Mo, and they think of Sheikh Mansour - why, because of his big investments in Manchester City and Barclays. But is the money his? Or is it listed as his family? Does it matter - $4.9bn is a hell of a lot. And I'm jealous.

    Exactly how the young royal funded his big British purchases is a bit of a mystery. He chairs Abu Dhabi's International Petroleum Investment Company, part of the emirate's estimated $650 billion sovereign wealth fund. But the state-owned vehicles do not include the royal family's personal wealth.

    Instead, the source of Al Nahayan's wealth is believed to come from his cut of the family's estimated $150 billion collective personal fortune, largely amassed in the 1970s when raking off oil profits was not as frowned-upon. Though Al Nahayan is certainly not the only mega-rich UAE royal, he is the first to invest individually, under his own name.

    Your highness, can I have some?

    The Gulf's Newest Billionaire


    Posted by at No comments :

    Wednesday, March 11, 2009

    75-year-old widow to be flogged

    Just across the boarder, something unspeakable will happen:

    The sentencing of a widow to 40 lashes for mingling with two young men has sparked new criticism of Saudi Arabia.

    Khamisa Sawadi, who is Syrian but was married to a Saudi, was convicted and sentenced last week for meeting with men who were not her immediate relatives.

    The two men, including one who was Mrs Sawadi's late husband's nephew, were reportedly bringing her bread. They were also found guilty and sentenced to prison terms and lashes.

    There may be another side to the story, but I seriously doubt it.

    75-year-old widow to be flogged

    Posted by at No comments :

    Tuesday, March 10, 2009

    Hotels in Dubai/Abu Dhabi - good or bad?

    The latest report on UAE hotels have been given a celebratory pat on the back after Deloitte isued their Hospitality Vision Report which is a Global Performance Review of all hotels comparing average room rates occupancies and revPAR (revenue per available room) in key cities worldwide - and then talk about the top lot. And, to be frank there is no surprise that Dubai and Abu Dhabi are both right up there. There is teh spiel about how 2009 is going to be tough and the outlook not great, but according to where the tourist or business traveller went, this report is a good indicator of where people wwere going and wanted to go - and how much they were willing to pay once they were there. But yes, there will be a drop next year. About Abu Dhabi and Dubai they say:

    Dubai - a place in all three of their top 20 tables, highest average room rate revpar in the Middle East (2nd and 3rd in the world), occupancy dropped to 79% (no doubt due to all the new hotels) and at 11th place - and revpar has flattened/dropped slightly. Room rates is a big pressure on Dubai, especially in the current climate, and with 36 more hotels to open in 2009, things cant be great for revPar going forward. Exchange rate will be an issue and hotels, and the Emirate will be competing with places like turkey, egypt and some of the Asia countries (either not tied to the dollar or a less expensive or cheaper experience)

    Abu Dhabi - revpar skyrocketed by 46% to $231, 4th place and only $6 behind Dubai (but less available rooms), occupancy at 81.5%, 3rd in the world, average room rates up 35% to $283. With the bulk of furture stock coming to market closer to 2012 than than this year, Abu Dhabi hotel operators will be quietly smiling to themselves, for all the profits they will earn over the coming years.

    Is this good or bad? Most of it is good - good for the economy - but as Dubai becomes more consumer facing and dependant, this is probably a bad thing, especially in this economy. Some sort of easing needs to take place. The Rooms X rates multiple needs to be looked at. This is a simplistic way of looking at it, but the more bums on seats, or more strictly, bodies in beds, the more potential sales or product, gold, rides, shopping that will keep Dubai afloat. No doubt Sheikh Mo and his advisers have been discussing that very point, in a more complicated way and from a different and inclusive standpoint.

    The hotel report is worth a quick look and is available at Deloitte's site

    Labels: , , , ,

    Posted by at No comments :

    The Hoff in Dubai

    David Hasselhoff in Dubai with some video updates on his site. The site of him chasing some Saudi girls at the end of this video is truly amusing:

    Find more videos like this on HoffSpace

    Labels: , ,

    Posted by at 1 comment :

    Tuesday, March 03, 2009

    Deconstruction in Dubai

    It's a common fact, much like anywhere in the world, property development has tanked over the last 12 months. And Dubai, so focused on this industry has been hit extremely hard. The FT reports today of some real examples of scaling back, or companies and individuals not being paid, quite simply because the money has run out. And that's not just a Dubai thing, that's a world problem. Liquidity, or more appropriately illiquidity and lack of financing. No one is prepared to underwrite or can underwrite the future projects at this stage. What does this do for the physical landscale - well, depending on start dates, those who didnt see this coming will leave their half finished buildings in mid state, unable to complete. What about those who presold - well that's a big worry for investors.

    A year ago the worries were somewhat different - Dubai construction companies were worried about the cost of materials increasing during the timeframe of their poject, and hence the speed in bringing buildings to market.

    Now construction is all about either being paid or getting money to get paid. That's what I call deconstruction.

    Dubai contractors face cash flow crisis


    Posted by at 1 comment :

    Latest Articles