Dubai opens doors to business startups

[Jopie Fourie]

Dubai has already established itself as a thriving hub for major global firms, and now it is opening the doors to new business development, in a nod to potential disruptors.

Dubai's rapid economic growth is rooted in real estate, with dizzying skyscrapers housing some of the city's top financial and consulting firms. It's an image that may be intimidating to new entrants, but officials say entrepreneurs have a role to play in economic growth.

While critics argue the full potential of economies like South Africa are stifled by stringent regulations and policy uncertainty, Dubai's business friendly regulations, such as zero tax on repatriation of income, and no laws forcing foreign businesses to cede part of their equity to local investors, have been its strength.

Dubai opens doors to business startups | Fin24

Dubai's rapid economic growth is rooted in real estate, with dizzying skyscrapers housing some of the city's top financial and consulting firms. It's an image that may be intimidating to new entrants, but officials say entrepreneurs have a role to play in economic growth.

www.fin24.com

 

[Jopie Fourie]

Dubai can keep their desert country to themselves. There are better places elsewhere in the world to settle large companies and invest money in with way less issues than Dubai has.

 

[R13...]

Dubai can keep their desert country to themselves. There are better places elsewhere in the world to settle large companies and invest money in with way less issues than Dubai has.

Lots of big companies are using Dubai as a hub. There must obviously be attractive incentives on offer, and they are now trying to attract startups not large companies (they already have almost all of those).

 

[Temujin]

Dubai can keep their desert country to themselves. There are better places elsewhere in the world to settle large companies and invest money in with way less issues than Dubai has.

Yeah, but none of those places let you withdraw gold bars from atms

 

[Jopie Fourie]

Yeah, but none of those places let you withdraw gold bars from atms

But what do you want to do with gold? It is overrated and a massive gamble at this point in time.

 

[Temujin]

But what do you want to do with gold? It is overrated and a massive gamble at this point in time.

WTF do you mean? Do what every man who can afford to withdraw gold bars from an atm... pick up whoever I want... hey baby, I need to withdraw some gold bars from the atm, mind helping me carry a few

 

[ForceFate]

WTF do you mean? Do what every man who can afford to withdraw gold bars from an atm... pick up whoever I want... hey baby, I need to withdraw some gold bars from the atm, mind helping me carry a few

 

[Jopie Fourie]

Dubai faces a ‘disaster’ from overbuilding, top developer says

Dubai needs to halt all new home construction for one or two years to avert an economic disaster brought on by continued oversupply, according to one of its biggest builders.

“We’re entering a crossroads now,” Damac Properties PJSC Chairman Hussain Sajwani said in a Bloomberg interview.

“Either we fix this problem and we can grow from here or we are going to see a disaster.”

Damac’s chairman is the latest executive to call for curbs on construction in a market that’s been on a downward trajectory since it peaked five years ago. The slump has defied all predictions of a rebound as house prices fell around 30%.

About 30,000 new homes will be built this year, twice the demand in the Gulf city, property broker JLL estimates.

Dubai faces a ‘disaster’ from overbuilding, top developer says

Dubai needs to halt all new home construction for one or two years to avert an economic disaster brought on by continued oversupply, according to one of its biggest builders

www.fin24.com

 

[Jopie Fourie]

This makes all sense now. Dubai is about to hit broke and a bubble will burst real soon. Not a ride any investor would like to be in.

 

[surface]

So, Hussain seems afraid that his properties won't sell ?

Dubai needs to halt all new home construction for one or two years to avert an economic disaster brought on by continued oversupply, according to one of its biggest builders. - Damac Properties PJSC Chairman Hussain Sajwani

 

[Jopie Fourie]

So, Hussain seems afraid that his properties won't sell ?

It's already happening. Property values dropped at massive rates. So much so that banks are in trouble.

 

[ForceFate]

Dubai needs to halt all new home construction for one or two years to avert an economic disaster brought on by continued oversupply, according to one of its biggest builders.

Have they stopped yet?

 

[Jopie Fourie]

Have they stopped yet?

Not according to the article. Also, the OP in this thread confirms it too. Seems Dubai is trying its best to get people into a debt trap and investing money in a pyramid scheme.

 

[Willie Trombone]

This makes all sense now. Dubai is about to hit broke and a bubble will burst real soon. Not a ride any investor would like to be in.

It's bound to happen. It's way too top heavy.

 

[Willie Trombone]

It's already happening. Property values dropped at massive rates. So much so that banks are in trouble.

Not to mention way too many half completed projects standing idle.

 

[MachoPants]

I'll pass on Dubai thanks

 

[Jopie Fourie]

It's bound to happen. It's way too top heavy.

Agreed, I just never would have thought it would happen so quick.