scrubbedexpat141

I think that the lack of dip is more in line with the general growing global population. Therefore when the oil price drops it's hard to stop a pregnancy and kill people off. It's easier to bang and make babies. Combine those and I think where we may expect to see a 'dip', we see the growth just slow but remain positive...a short while after the downs. The graph came up pretty small for me and tough to work out the amounts on the bars so lets just say I'm right.

We're picking up work in Dubai faster than we have in ages. With big boys too.

We lost a bid recently as it was 80/20 cost/technical....I won't say which project but let's say it's the kind of thing you want to be technically extremely sound as it keeps people healthy.

jam25mack

We're doing OK work wise at the moment too.... mainly busy designing the super expensive metro! ;-) I'm gonna suckle on that teet while I can!

We've also got a few other pretty big and interesting jobs in the pipeline too.

The scoring system depends on the project and its complexity, it's generally not set.

Meow

If you are claiming degrees of separation then that applies to many industries and countries.

The correlation is not as direct as some are claiming.

Many Brits have left but plenty are still moving here.

Meow

That's not the one that Milly posted at the start of the thread though.

Bahtatboy

But it shows closer correlation, which is my point.

Meow

Which would have backed up the claims better than the one posted.

I have never said there is no correlation but that it is not as simplistic as some would like to believe. Dubai is not wholly dependent on oil right now and as time goes on it will be less so.

Bahtatboy

Millhouse

yeh, true - then it will be dependent on tax revenues - just like every other non-resource rich government in this world.

good luck with that. Then tell me the population will keep growing.

iggle

Actually you did say the words yet you are completely wrong and just won't accept it. Next you'll be saying "You still missenterepted what I said so you quoting me word for word proves nothing."

Dubai is dependent on investors, and those investors are wholly dependent on oil. If you refuse to accept that because "Iggles" is telling you then more fool you. When the crash hits next year you keep shouting Dubai doesn't need oil and rearrange the deck chairs on the Titanic on your own.

Millhouse

Actually, the population is probably tied to two things - oil prices and credit expansion. Credit expansion is partially tied to the oil price as well as other factors such as the currency peg, and general business confidence.

All these things are not going well. I'm trying to get data on credit expansion rates - last I looked they were quite poor.

Meow

*sigh* Dubai is not dependent on oil. Saying it is dependent on it is an absolute and it is not dependent on oil. AD probably is but Dubai isn't.

Dubai receives revenue from many other things and those have overtaken oil.

I really don't know why I am bothering as you like to think you are clever and have some kind of weird obsession with me (which is absolutely not reciprocated as even your posts make my skin crawl) yet everyone else on this board thinks you are a fool and that is being polite.

norsk

I reckon construction will be the trigger (this time as well). The number of ongoing projects and new ones being announced daily is astounding. Who on earth still has money to buy all these flats? Surely they cannot continue putting the brakes on releasing completed stock like they did last year, although they probably don't have a choice as the market will be flooded with empty properties.

I read the other day that some developer has announced a tower completely filled with studio apartments as people cannot afford anything else...

Boomhauer

Over the years whenever there is a News article or YoutTube video reporting on Dubai's deplorable treatment of blue collar workers or overzealous and harsh punishments dished out to Expats, the comments sections always has a few people wishing the West could ween itself off Arab oil so as not to support these Arabs ; and invariably a few knows-it alls (especially liberals, Arabs and or Muslims) chime in that these critical Westerners are ignorant and stupid because Dubai does not rely on oil for its survival. A few times I have mentioned that while Dubai itself does not pump much oil it became a hotspot because of regional oil rich neighbour Abu Dhabi and others.

Millhouse

A newbie friend of mine wants to buy aa villa in the springs.

I said to him... One day someone will wake up and look at that shitty villa and say, one million dollars, really?

He then realised that one million dollars gets a lot of house in south Africa. Don't think he will be buying here now.

norsk

Unless you are going to stay for 8-10 years and planning to live in the property yourself I don't understand why anyone would buy here at this point. And buying in Springs? I mean that's just ridiculous.

I totally get the guys who bought 5 flats back when all you needed was to put down 5% and are now rich as the tenants have paid off the mortgages over the last 10 years. But it's not like that anymore is it and the risk that the project will never get completed is still there.

Also these old flats aren't particularly liquid assets are they? I don't pretend to know, but I have a feeling that the second-hand market for property here is pretty poor unless you are lucky enough to own in a spectacular building/development.