The speed, vilocity, range and the size of property building in the Gulf States in general and in Dubai in particular is totally unprecedented. Are we, sooner or later, to see what we have seen in the so-called Tiger-economy, grand crush in Thailand and elsewhere in the region? What are your arguments, why and how?
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June 10th, 2009 at 7:38 pm
I do not think so, cause you learn from mistakes made by others and yourself.
The demand for the property in Dubai is present. For example look at Burj Dubai: Floors 17 to 108 have 800 private apartments and these were sold out within eight hours! property in Dubai get sold even before they start building.
Bank and stock exchange wise the UAE needs a little bit more aprovement but otherwise I personally do not see a reason for any crush. Dubai will depent on tourism in the future. Please also take in consideration that the political structure of the UAE is different than from Thailand.
I personally see the problems somewhere else like for example social problems.
If you check the latest (just 50 years ago) UAE history you will find out, that many mistakes were made where the Arab community learned from.
You mentioned “elsewhere in the region”. Where?
Just my opinion. Take care.