Dubai economy?
Oct 20th 2019, 5:38 am
#31
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Joined: Jan 2011
Location: Dubai
Posts: 3,467
Re: Dubai economy?
I was talking to one of my mates who's out in KSA at the moment and he agrees with the above with regards to it being busy but by no means a boom town. From what he sees they are chucking things out left, right and centre for bids but in his opinion the likelihood is that only a small number of them will amount to anything.
Oct 21st 2019, 7:55 am
#32
Knee deep and rising
Joined: Sep 2011
Posts: 3,007
Re: Dubai economy?
I was talking to one of my mates who's out in KSA at the moment and he agrees with the above with regards to it being busy but by no means a boom town. From what he sees they are chucking things out left, right and centre for bids but in his opinion the likelihood is that only a small number of them will amount to anything.
Oct 26th 2019, 3:28 pm
#33
Forum Regular
Joined: Sep 2014
Posts: 88
Re: Dubai economy?
I noticed a few of my Western connections (mostly in finance) in LinkedIn from back in the day in Abu Dhabi have moved to Riyadh. Working for the PIF, Neom, Qiddiya, etc.
I agree with your regard. When I lived in AUH I went to Riyadh a few times and I didn't find it that different. Naturally they had some of those stupid laws (like women not being allowed to drive) but below that the culture is the same. Reading that Dubai is the Switzerland in the ME and that Riyadh is somehow a shithole is hilarious. Comparing Dubai to Riyadh is probably like comparing London to Manchester. Dubai might be fancier and more international, but it is the same culture after all.
Personally something I like about Riyadh is the weather. I like that dry desert weather compared to the unbearable humid weather in the UAE or anywhere in the Gulf. In winter it even gets chilly so you can live a few months a year without air conditioning 24/7.
Wow! Lots of interesting perspectives.
I hope things improve in Dubai, it was such a good place to be 2004-2013, though we were very fortunate to stay employed through the messy years.
Singapore was great 2013-2918 but the market is showing signs of stalling.
Maybe Riyadh is the next port! I've been there many times and actually like it. It's a professional environment, and in some respects underrated. I'm not a huge drinker so that makes no difference to me. I'll investigate, and see if anything is happening in the marketing/communication area I work in.
I hope things improve in Dubai, it was such a good place to be 2004-2013, though we were very fortunate to stay employed through the messy years.
Singapore was great 2013-2918 but the market is showing signs of stalling.
Maybe Riyadh is the next port! I've been there many times and actually like it. It's a professional environment, and in some respects underrated. I'm not a huge drinker so that makes no difference to me. I'll investigate, and see if anything is happening in the marketing/communication area I work in.
Personally something I like about Riyadh is the weather. I like that dry desert weather compared to the unbearable humid weather in the UAE or anywhere in the Gulf. In winter it even gets chilly so you can live a few months a year without air conditioning 24/7.
Oct 27th 2019, 12:13 am
#34
BE Forum Addict
Joined: Dec 2009
Posts: 4,641
Re: Dubai economy?
Read this back in August: Bloomberg reporting that work on the Al Maktoum airport was put on hold due to sluggish economy.
https://www.bloomberg.com/news/artic...nomies-stumble
https://www.bloomberg.com/news/artic...nomies-stumble
Oct 28th 2019, 6:18 am
#36
Knee deep and rising
Joined: Sep 2011
Posts: 3,007
Re: Dubai economy?
the project funding is exactly how I have described. Most of the project websites actually are clear about how it works, like Amaala for example. https://www.amaala.com/en/about-us/Nothing wrong with this approach - it's just not as much a sure thing as when the government pours the money directly into the project.
Most of the consultants being described as strategic partners is always something of note - it usually means they are working on a MOU or very early limited contracts and will only be fully engaged when the funding builds up. Again it's a (lower cost) way of establishing the authenticity and trust for investors.
Oct 28th 2019, 7:53 am
#37
Account Closed
Joined: Feb 2011
Posts: 0
Re: Dubai economy?
To be fair to me the project funding is exactly how I have described. Most of the project websites actually are clear about how it works, like Amaala for example. https://www.amaala.com/en/about-us/
Nothing wrong with this approach - it's just not as much a sure thing as when the government pours the money directly into the project.
Most of the consultants being described as strategic partners is always something of note - it usually means they are working on a MOU or very early limited contracts and will only be fully engaged when the funding builds up. Again it's a (lower cost) way of establishing the authenticity and trust for investors.
the project funding is exactly how I have described. Most of the project websites actually are clear about how it works, like Amaala for example. https://www.amaala.com/en/about-us/Nothing wrong with this approach - it's just not as much a sure thing as when the government pours the money directly into the project.
Most of the consultants being described as strategic partners is always something of note - it usually means they are working on a MOU or very early limited contracts and will only be fully engaged when the funding builds up. Again it's a (lower cost) way of establishing the authenticity and trust for investors.
Some consultants have even paid to become 'partners' to things in the region. Misleading to say the least.
Oct 29th 2019, 8:32 am
#38
Onwards and Upwards!
Joined: Sep 2010
Posts: 884
Re: Dubai economy?
Halt All New Home Construction In Dubai Or Face Economic Disaster, Top Builder Warns
Damac Properties share price, oof!
Damac Properties share price, oof!
Oct 29th 2019, 9:28 am
#39
Account Closed
Joined: Feb 2011
Posts: 0
Re: Dubai economy?
Halt All New Home Construction In Dubai Or Face Economic Disaster, Top Builder Warns
Damac Properties share price, oof!
Damac Properties share price, oof!
Oct 30th 2019, 4:10 am
#40
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Location: Abu Dhabi via Barcelona
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Oct 30th 2019, 6:59 am
#41
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Re: Dubai economy?
Oct 30th 2019, 10:26 am
#42
Knee deep and rising
Joined: Sep 2011
Posts: 3,007
Re: Dubai economy?
Hey it wasn't a dig at you individually. Just the general stuff with KSA at the moment, there's so much going on it's impossible to know where there's sensible progress, pie in the sky or genuine opportunity.
Some consultants have even paid to become 'partners' to things in the region. Misleading to say the least.
Some consultants have even paid to become 'partners' to things in the region. Misleading to say the least.
I just thought some factual information should be out there
Nov 1st 2019, 4:44 am
#43
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Nov 4th 2019, 8:43 am
#45
Wannabe Cycling God
Joined: Jul 2009
Location: West Kensington, Dubai
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