JTF.ORG Forum
General Category => General Discussion => Topic started by: Christian Zionist on December 01, 2009, 07:13:38 PM
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Arab markets start to crash, Israel unaffected thanks to boycott
The Middle East stood on the brink of a financial crisis this week when the financial markets in Dubai, the Arab world's economic jewel, crashed a worrying 10 percent. The drop was preceded by the government-backed state conglomerate Dubai World informing creditors that they would have to wait at least another six months for repayment.
Dubai, one of the seven emirates that make up the United Arab Emirates, is home to a disproportionate amount of real estate development, diamond exports and other major industries in the Arab world. An economic collapse there would be felt heavily in every neighboring state.
Except Israel, that is. Thanks to the decades-old Arab boycott against doing business with Israelis, there is very little Israeli investment in Dubai. If this week's drop in the Dubai markets heralds a larger economic crisis in the Middle East, Israel may be the only country untouched by it.
http://www.israeltoday.co.il/default.aspx?tabid=178&nid=20069
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Bwa-ha-ha! The curse is turned into a blessing!
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Dubai has the tallest building in the world, the Burj Dubai:
(http://blog.miragestudio7.com/wp-content/uploads2/2007/07/worlds_tallest_building_burj_dubai_klcc_tower_skyscrapper.gif)
(http://www.infobarrel.com/media/image/1371.jpg)
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Great news. :dance:
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Dubai has the tallest building in the world, the Burj Dubai:
(http://blog.miragestudio7.com/wp-content/uploads2/2007/07/worlds_tallest_building_burj_dubai_klcc_tower_skyscrapper.gif)
(http://www.infobarrel.com/media/image/1371.jpg)
I was going to make a comment about 9/11 in reverse, but I'm a moderate. ;D
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Bwa-ha-ha! The curse is turned into a blessing!
Is this what Chaim was talking about?
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Wonderful. I hope Dubai becomes a ghost town.
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Since my mother is in intl. real estate, I am somewhat well-informed about the markets. Dubai real estate fell by 40%, the prices of the villas on the artificial "palm tree" fell from 3 million to about 1 million!
(http://www.jebelalibaba.com/wp-content/uploads/2007/05/palm_jebelali1.jpg)
(http://marthasamuel.files.wordpress.com/2008/12/pj5.jpg)
(http://www.edibek.com/wp-content/uploads/2008/10/palm_jumeirah_16.png)
Also the Trup Tower was cancelled:
(http://www.burjdubaiskyscraper.com/2006/trump-hotel-dubai.jpg)
Although I have to admit that this is really impressive, if you do not look behind the scene (more than 70% of capacities in Dubai are EMPTY space):
1991:
(http://media.photobucket.com/image/dubai%20comparison/secretdubai/dubai1991colour.jpg)
2005:
(http://media.photobucket.com/image/dubai%20comparison/secretdubai/dubai2005.jpg)
(http://pix.sueddeutsche.de/immobilien/288/457943/burj-dubai31122008_344-1234961696.jpg)
But 1,140m Nakheel Tower is already planned to kick Burj Dubai from it's position:
(http://mhviraf.files.wordpress.com/2008/11/1794dubaiplans1140metretalltower_pic1.jpg)
While Kuwait will rise up it's Silk City Mubarak Tower:
(http://img95.imageshack.us/img95/7683/silkcity223qo.png)
But this was overdue to happen. It was an enormous speculation bubble, that bursted. You cannot build megacity capacities in a 1.3-million-city!
Anyway, the most stable real estate prices in the whole Middle East can be found in Tel Aviv the the Israeli seashore cities as a whole. Actually this is better than having the WTB, which is only a temporary title!
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Baruch Hashem. The curse turned into a blessing! Exactly! All praises to God.
And as to the buildings in dubai, they want to keep building taller and taller buildings because they are compensating.