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Dubai: A house built on sand?
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AmHere
#1 Posted : Friday, November 27, 2009 8:43:00 AM
Rank: Member


Joined: 7/7/2009
Posts: 93
Maybe this could be the right time to buy property in Dubai on the Palm Jumeirah! LOL. Property had already dropped by 50% prior to this announcement.


http://online.wsj.com/ar...?mod=article-outset-box

http://www.bloomberg.com...91&sid=ai9qojctV7q4

http://www.telegraph.co....-fears-rock-markets.html
AmHere attached the following image(s):
dubainew.jpg (52kb) downloaded 4 time(s).
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VituVingiSana
#2 Posted : Friday, November 27, 2009 8:49:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
Borrowed from everyone... built his country/city/emirate into a 'giant'... then tells Lenders... mta do?

Dubai has grown up in the past 10 years... you can't take the buildings away... The assets are IN Dubai...

Even if you 'foreclose' on the properties... they remain there... and the laws might make it difficult to 'foreclose' on the properties since (I think) you can't 'own' but only lease (long-term leases = 99 years) land...

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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FundamentAli
#3 Posted : Friday, November 27, 2009 9:32:00 AM
Rank: Veteran


Joined: 11/4/2008
Posts: 1,289
Location: Nairobi
Second country to default on debt repayment. Some predictions are coming true now.

People ask why,I ask why not?
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kizee
#4 Posted : Friday, November 27, 2009 9:44:00 AM
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Joined: 1/9/2008
Posts: 537
not gud...kenya already feeling the effects...kes has lost a shilling on the day
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Gordon Gekko
#5 Posted : Friday, November 27, 2009 10:48:00 AM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
KQ has dumped 3/-
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VituVingiSana
#6 Posted : Friday, November 27, 2009 10:54:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
Volatile for KQ... panic selling then folks buying again... I am not a 'trader' so I will stick to staying the course thru 30 May 2010... I think the fair value is at least 42/-

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Intelligentsia
#7 Posted : Monday, November 30, 2009 10:10:38 AM
Rank: Elder


Joined: 10/1/2009
Posts: 2,436
'Two hours after announcing it had raised $5bn from two Abu Dhabi banks, the department of finance asked for a standstill until May 30 on all financing to the heavily indebted Dubai World and its troubled property unit Nakheel, which is due to pay back $4bn on an Islamic bond on December 14.'


Funny, some of those key figures in former KANU govt named in the Kroll report could collectively have afforded to lend a good chunk (usd 2b) of this cash! Kroll report said they stole at least USD 2B. Shows the enormity of loss the country suffered - if only this money was invested in Kenya...

http://wikileaks.org/wik...enya_under_President_Moi
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VituVingiSana
#8 Posted : Monday, December 07, 2009 4:18:54 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
intelligentsia - kanu crooks probably have money in dubai already!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Jay R
#9 Posted : Tuesday, December 08, 2009 1:40:01 AM
Rank: Member


Joined: 1/5/2009
Posts: 117
Location: Taehan Minkook.
DW woes are nothing but passing clouds. The prices they were quoting for their property and any other property in Dubai were simply astronomical. Simply highly over-valued. Dubai goodwill will pull all the wealthy guys back when the storm is over.
when i see my purple, you see it not!
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Lolest!
#10 Posted : Wednesday, June 14, 2017 10:11:29 AM
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Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
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Shak
#11 Posted : Wednesday, June 14, 2017 11:50:07 AM
Rank: Elder


Joined: 2/22/2009
Posts: 2,449
Location: Africa
Lolest! wrote:
http://www.independent.co.uk/voices/commentators/johann-hari/the-dark-side-of-dubai-1664368.html

Modern day slavery. Very sad
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muganda
#12 Posted : Wednesday, June 14, 2017 12:12:34 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
Shak wrote:
Lolest! wrote:
http://www.independent.co.uk/voices/commentators/johann-hari/the-dark-side-of-dubai-1664368.html

Modern day slavery. Very sad


Author appears to have also built his article on sand. Johann Hari shamefacedly returned Orwell prize won in 2008 and left the Independent.

Quote:
"committed three journalistic crimes. First, he
has pretended that words spoken to other journalists were in fact said to
him. That is plagiarism, pure and simple. Secondly, he makes things up.
There is no doubt in my mind that many of the people he supposedly
encounters - such as the girl in hot pants in Dubai - are figments of his
imagination. Thirdly, he distorts the words of the real people he does
manage to interview."


http://www.thenational.a...-portrayal-of-dubai#full
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