Piers Morgan on Dubai
Discussion
I personaly think the current economic climate is the best thing that will hapen to Dubai.
It will have to focus on making the best of what it has now rather than building new. It will arguably give the Emirate breathing time to take stock and consolidate. This isn't a crash just a very heavy correction. As has been said - what went on over the last 2-3yrs could never be sustained.
I've heard that over 5,000 hire cars was dumped at the airport last month, 90,000 people left and 1,500 visas being cancelled each day.
Personaly, touch wood, I'm safe job wise and if it returns to how it was 5-6 years ago (when I got here) then brilliant - it was lovely then.
It will have to focus on making the best of what it has now rather than building new. It will arguably give the Emirate breathing time to take stock and consolidate. This isn't a crash just a very heavy correction. As has been said - what went on over the last 2-3yrs could never be sustained.
I've heard that over 5,000 hire cars was dumped at the airport last month, 90,000 people left and 1,500 visas being cancelled each day.
Personaly, touch wood, I'm safe job wise and if it returns to how it was 5-6 years ago (when I got here) then brilliant - it was lovely then.
Schermerhorn said:
Dubai was inevitably going to go bust;
oil rapidly running out
most of the income generated is from tourism
Real estate market is tanking
Plus there is no manufacturing base. It's almost entirely a services industry.
oil rapidly running outOil has not been a big revenue earner in Dubai for a long time.oil rapidly running out
most of the income generated is from tourism
Real estate market is tanking
Plus there is no manufacturing base. It's almost entirely a services industry.
most of the income generated is from tourism No, most of the revenue is generated from trade
Real estate market is tanking It has been overpriced for a longtime, prices may come down to a realistic level.
okgo said:
So I have seen the adverts for this http://www.itv.com/PressCentre/PiersMorganOn/Ep1Du... and it looks quite interesting!!
It looks to be a good insight into the world that most will never see !!
When he says about the fact that four years ago it would have been underwater, was I the only one wishing he had gone there four years ago instead??!?!?It looks to be a good insight into the world that most will never see !!
Dubai does not, and has not ever, relied on oil revenues or tourism revenues. It is a trading city.
The property collapse is pretty spectacular and many thousands have/will lose their jobs. It is impossible to get a clear idea of the white/blue collar split, and the numbers of people reported to be leaving are meaningless because they are not officially reported. Even if they were offically reported you wouldn't believe them.
As someone else said, there is plenty of good to come out of this if you escape the cull. Rents are finally falling, a lot of the chaff is being forced out of the employment market.
The property collapse is pretty spectacular and many thousands have/will lose their jobs. It is impossible to get a clear idea of the white/blue collar split, and the numbers of people reported to be leaving are meaningless because they are not officially reported. Even if they were offically reported you wouldn't believe them.
As someone else said, there is plenty of good to come out of this if you escape the cull. Rents are finally falling, a lot of the chaff is being forced out of the employment market.
Corpulent Tosser said:
Schermerhorn said:
Dubai was inevitably going to go bust;
oil rapidly running out
most of the income generated is from tourism
Real estate market is tanking
Plus there is no manufacturing base. It's almost entirely a services industry.
oil rapidly running outOil has not been a big revenue earner in Dubai for a long time.oil rapidly running out
most of the income generated is from tourism
Real estate market is tanking
Plus there is no manufacturing base. It's almost entirely a services industry.
most of the income generated is from tourism No, most of the revenue is generated from trade
Real estate market is tanking It has been overpriced for a longtime, prices may come down to a realistic level.
The £17mio flat is the Marketing Suite for the Volante development with the heli pad on the roof that she mentioned.
I viewed this flat for a client in November, amazing spacious but too cluttered to make the space look livable.
Complete lateral floor, 13,000 sq ft approx. Huge pad - good value for money compared with London market
64th floor pad
I viewed this flat for a client in November, amazing spacious but too cluttered to make the space look livable.
Complete lateral floor, 13,000 sq ft approx. Huge pad - good value for money compared with London market
64th floor pad
robinhood21 said:
Steve748 said:
bazking69 said:
Looks like a great programme.
Shame the knobhead that is Piers Morgan is presenting it
anybody in mind who would be better?Shame the knobhead that is Piers Morgan is presenting it
All in all for me an excellent programme.
Steve748 said:
robinhood21 said:
Steve748 said:
bazking69 said:
Looks like a great programme.
Shame the knobhead that is Piers Morgan is presenting it
anybody in mind who would be better?Shame the knobhead that is Piers Morgan is presenting it
All in all for me an excellent programme.
Paper foundations built on paper money trying to hold up ivory towers. Its mindless shopping, overpriced, and a s
thole.
Next week Piers is doing Monaco, another place I've worked. Okay, that was 10 years ago but that was a joy (quite a nice commute to work on le Turbee, the really twisty road, on the Guzzi from Antibes) compared to Dubai.
thole. Next week Piers is doing Monaco, another place I've worked. Okay, that was 10 years ago but that was a joy (quite a nice commute to work on le Turbee, the really twisty road, on the Guzzi from Antibes) compared to Dubai.
had ham said:
Agreed - last time I was there (May last year) we hired a yacht for the day and sailed along the coast - and came across the Aluminium ore facility(s?) - I don't recall in great detail, but my captain told me something like Dubai being one of the world's largest Aluminium Ore processors...
I don't think they do that much, well nothing like the bigger countries. Russia and China being the biggest that I remember.Gassing Station | TV, Film, Video Streaming & Radio | Top of Page | What's New | My Stuff