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The most exclusive penthouses, duplexes,
3, 2 and 1 bedroom apartments in the world.

Damac selects only the best award-winning architects from around the world. Top designer
house ‘Aedas’ deserves praise for the architectural magnificence of this 90-storey splendour.

Monarch of all it surveys in the prestigious Dubai Marina. Overlooking the Palm Jumeirah,
the 8th man-made wonder of the world.

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All I can say is that the ability for Dubai to attract foreign investment is beyond my imagination. Because of my job, I have the chance to go to Dubai which population is less than 5 millions. Although Dubai is a Muslim country and they applied stringent rules toward foreign investment in the region, but on the other hand, the development of economic measures taken by the open-door policy, is respected by people.

Do not feel the economic slowdown

Recognizing that oil will soon run out of resources, the Dubai Government has in recent years, make their effort to turn Dubai into the Middle East even an international financial center. At the same time develop tourism and industry vigorously. They built a lot of building, such as the world’s largest airport, the highest skyscraper, the highest hotel, the largest shopping mall in Dubai territory. So the ultra-high-end industries, skyscraper, the luxury hotel is also closely dependent on a common aspiration to churn money.

With the global financial crisis spread rapidly, but also on the Dubai International rating agency increased the level of public debt, said a high degree of concern, but walking in the downtown Dubai on the way, you still around the top to the bottom of the high-rise building, a vehicle on the road Another car carrying foreign workers to the site, you do not understand the signs of slowing down.

Dubai people are still full of confidence

A CEO of the property and real estate company said: “If you come again next month, there will be another new face, the development in Dubai is too fast, the lofty high-rise tower can be built quickly. Besides its strong financial resources, another reason is because there is no rain for Dubai in these few years.”

In the busy downtown, the subway project was in full swing to connect to a media city (Media City), the Internet City (Internet City), the Board of Education (Education City), and so on. They are all built inside the city, it is truly a multimedia corridor and the planning is amazing.

They are many people from the outside world worried about Dubai, but Dubai people are still full of confidence.

A Germans who been working in Dubai for 17 years claimed that, even though at this stage it is a very difficult period, but for his so many years of experience in Dubai, he said he absolutely able to cope with this crisis.

Next to the highway, I saw some of the previously announced local listed company logo who successfully bid for the Dubai projects. In the hotel where I stay, a local real estate group is promoting the high-end properties in The World.

While the global financial crisis spread rapidly, Dubai fast-growing financial district which relies on foreign funds, also cannot escape from the crisis. Thus, in order to stabilize local investor confidence, the United Arab Emirates government throws 20 billion dirham (about 400 billion USD) into the financial sector in just one month.

To maintain zero-deficit budget

Despite pressure from the global financial crisis, for 2009 budgeting, the United Arab Emirates government has just presented a total value of 420 billion dirham (about 140 billion USD) without implement any new tax and fee structure. The government still stick to its zero-deficit budget as usual.

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Designed by Tony Ashai, the architect behind Shah Rukh Khan Boulevard, the gorgeous Santorini development located on Marjan Island in Ras Al Khaimah, was introduced to a throng of eager investors and Hollywood and Bollywood stars. The project with its distinctive blue domes and unique architecture quickly sold out and is considered one of the area’s top developments.

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Jumeirah Village South is a new residential development centrally located near Dubai Media City, Dubai Internet City and Jebel Ali Freezone

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Dubai liabilities 47.6 billions U.S. dollars, this is more than their country GDP. It has shattered the myth of Arab wealth.

For a long time, the creditors agreed that Dubai debtors are in good reputation. However, Moody’s said in its latest report, the rapid growth of Dubai liabilities, seriously out of the safety border have been difficult to support alone. The United Arab Emirates of Dubai, the central government debt Attitude has become the crux of the matter.

Public debt is 1.03 times of GDP
In accordance with the interpretation of the report, the Dubai government-related liabilities in two parts, namely, the rating was 5 indebt companies, as well as the Dubai government-controlled companies with other 12 has not been rated liabilities.

The rated company are: Dubai Holdings (Dubai Holdings Commercial Operations Group), Dubai International Financial Center Investment Company (DIFC Investments), Dubai Port World (DP World), Dubai Electricity & Water Authority and Jebel Ail Free Zone.

Five foreign companies are: Dubai Holding a variety of conventional debt bonds 2.8 billions U.S. dollars, Dubai International Financial Center Investment Company to issue Islamic bonds 1.25 billions U.S. dollars; Dubai Port World Islamic bonds 1.5 billions U.S. dollars, at the same time, the issue of 1.25 billions U.S. dollars Europe’s medium-term notes (EMTN); Dubai Department of electricity and water were issued 1 billion U.S. dollars in order to include Islamic bonds dirhams (AED Sukuk) and accounts receivable 2 billions U.S. dollars bonds (Receiveables Securitization); Jebel Ali Free Zone Le • Issue of 2 billions U.S. dollars of AED Sukuk.

Five companies carry a total amount of the bond rating of 11.8 billions U.S. dollars. In addition, the Dubai government-controlled companies and other foreign debt rating has not included the 35.8 billions U.S. dollars.

Among them, according to real estate companies Farmar (Emaar Properties) foreign debt to 2,423,000,000 U.S. dollars; Emirates Group (Emirate Group) 2007-2008 in a variety of debt and borrowing of up to 3,739,000,000 U.S. dollars; and the famous Dubai World Group (Dubai World) is debt 5,500,000,000 U.S. dollars, for the purchase of MGM (well-known U.S. company) of the refinancing; Dubai Ports World (DP World), 2007 fiscal year for all bank borrowings amounted to 2,528,000,000 U.S. dollars; Dubai Holding for the fiscal year 2007, all kinds of bank loans and overdrafts amounted 1,482,000,000 U.S. dollars; and the Dubai Stock Exchange (Borse Dubai) as a result of the purchase of equipment debt stock 3,780,000,000 U.S. dollars; Palm Island Group (Nakheel) 2006-2008 in the Islamic bond issue of 45 billion U.S. dollars in fiscal year 2007, the long-term loans 2,765,000,000 U.S. dollars, a total of Amounted to 7,265,000,000 U.S. dollars; Dubai ports and free zone in the world (Ports & Free Zone World) acquisition financing 1,250,000,000 U.S. dollars; Dubai Air (Dubai Aerospace) syndicated loans 1,000,000,000 U.S. dollars; dry dock Dry dock in the world (Drydocks World) syndicated loans 2,200,000,000 U.S. dollars; Dubai Civil Aviation Authority (Dept.of Civil Aviation) 2009 due 1,000,000,000 U.S. dollars Dubai Islamic bonds and the central government (Central Govenment) 2007 end with 6.9 billion dirhams debt In April of this year’s 6.5 billion dirhams bonds, a total of 13.4 billion dirhams, equivalent to 3,649,000,000 dollars.

As a result, the background of Dubai’s government (Dubai Inc.) Total liabilities of 47,616,000,000 U.S. dollars, and in 2006 (the latest GDP data) for the Dubai 46,000,000,000 U.S. dollars, that is to say, Dubai, the current public debt of its GDP of 1.03 Times.

Moody’s said the debt for the conservative calculation. Because there are a number of GRI (government-related issuers, the government issuer) of the debt was not released. In the near future to raise funds and 60 billion U.S. dollars of Dubai’s ICD debt did not include them, and this part of the debt, the company is likely to have its debt to raise funds and to use that old. If some of the other bonds, Dubai’s 2006 GDP and its debt ratio will be more than 1.03 times. Because these companies are likely to get government help, these debts may eventually be incorporated into the government’s balance sheet, the Dubai Financial leverage is difficult to complete calculated. The Moody’s believes that Dubai will also leverage on the rise, and more than trend GDP growth rate??

However, if these items can not be completed immediately, leveraged Dubai continue to rise will also be possible to extend the period of time.

The Moody’s report that Dubai may face the risk of the four cores: the implementation of risk, the risk of the global economic downturn, the regional political risk, as well as financing and liquidity risk.

Although Dubai’s economy benefited from the regional demand, but also Dubai’s economy to a large extent dependent on Europe (especially Britain) and Asia, two regions which are to carry out economic adjustment, economic slowdown.

“The future for a long time, Dubai will be more dependent on federal and Abu Dhabi, United Arab Emirates.” Moody’s report said. Moody’s believes that Dubai alone their financial resources may be insufficient to meet a possible crisis.
Moody’s believes that in the next year, Dubai will be unprecedented in the United Arab Emirates rely on the federal government until 2015 its development strategy to develop the project and plans to present its state of development suited to date.

Moody’s believes that the United Arab Emirates as a whole is a lot of capital-exporting countries. Moody’s said that in 2006, Abu Dhabi’s fiscal revenue amounted to 53,000,000,000 U.S. dollars. IMF2008 in a February report in the financial assets of Abu Dhabi 250000-875000 million US dollars between. The Dubai government-related liabilities of 470 billion U.S. dollars, include assets of Abu Dhabi, is not large.

But Moody’s warned that all depends on the unity of the United Arab Emirates national, if not to save the other emirates, Dubai, United Arab Emirates as a whole a lot of capital for the balance of Dubai’s creditors is meaningless.