Dubai. Will it look like Kolmanskop soon?

H

Hosehead

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Kolmanskop and Dubai will be sister cities

Some of Dubai's 1.2m expatriates were on Friday considering cleaning out their bank accounts on Monday, the first day of business after Eid al-Adha, the "Feast of Sacrifice" holiday weekend. This was in spite of the federal government guaranteeing deposits at the start of the crisis last year.

Others worried about what would happen when the stock market re-opened. "It's going down straight away and then what can we do," said one local investor, who like many others wanted the government to keep the market closed.
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source
 
What is the value of "some". How much of a run on the banks will this really be?

Interesting though and I do not wish anything bad. There are many people who lost their life savings in similar economies.
 
lol at the dumbass celebs who invested in property in Dubai.
 
we are making stuff for Dubai projects and due to their finacial crisis some projects are put on hold for now. at least we got some deposits out of it before the crisis.
 
Another perspective

Just a geopolitical opinion: It is in the interest of the west that Dubai does succeed, the world cannot afford another middle eastern country that creates and foster radicalism towards the west.

If Dubai fails, and the emirate loses everything the blame would rightly or wrongly fall on the western decadencies that they allowed in their country.

But no, do not think it is going to be Kolmanskop, Abu Dhabi with all the oil will ensure that Dubai does not fail.
 
What's the great attraction of Dubai ?

Golf, shopping, beaches - all of which can be found anywhere else ?

I don't get it.
 
daveza said:
What's the great attraction of Dubai ?

Golf, shopping, beaches - all of which can be found anywhere else ?

I don't get it.
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Neither do I, these arab countries are some of the last places to visit with their sharia laws etc. It's their laws which I don't like so I will stay away.
 
ponder said:
Neither do I, these arab countries are some of the last places to visit with their sharia laws etc. It's their laws which I don't like so I will stay away.
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Amazing how these "laws" are bent to allow the infidels to frolic on the beaches in their bikinis, just because big bucks can be made. I think the Maldives is the same with regards the bending of these "laws".
 
daveza said:
What's the great attraction of Dubai ?

Golf, shopping, beaches - all of which can be found anywhere else ?

I don't get it.
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Dubai is very HOT and HUMID. Those images of Dubai beaches, golf and whatnot are unlike the reality. Unless you enjoy 40 degrees and worse-than-Durban humidity, Dubai is not a place for you.

Looks like they'll need Abu Dhabi - a much wealthier emirate, to bail them out again.
 
PeterCH said:
Dubai is very HOT and HUMID. Those images of Dubai beaches, golf and whatnot are unlike the reality. Unless you enjoy 40 degrees and worse-than-Durban humidity, Dubai is not a place for you.

Looks like they'll need Abu Dhabi - a much wealthier emirate, to bail them out again.
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Not to mention nothing but sand(apart from the odd small artificial oasis)
 
Alan said:
Not to mention nothing but sand(apart from the odd small artificial oasis)
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True.

Anyway, for work, Abu Dhabi is better - pay is better - of course pay is dependent on your race and nationality. Americans get paid the most.
 
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