IndieG

Depeg - may be not, revalue - hopefully yes......

jvr20

what's the difference?

expat.brat

de-peg: allow the aed and usd exchange rate to change freely according to supply and demand, like the gbp and the aed

revalue: change the peg to another rate from the current $1=AED3.68...to something like $1=AED2.50 in an ideal world...

jvr20

oh ok thanks. makes sense really... so still pegged though. That would be about 5.25 AED to the GBP, vs 7.6 today!

Confucius

So they appointed Gareth as a moderator just to stop him posting on this thread,non???

beebee

I enjoyed his posts on here.. Expat brat too

Blue Cat

me too

Border Reiver

I'd have thought it would take more than that to stop Gareth.

Dubai_Chick

His 'fetish' is being satisfied elsewhere on the board. Still interesting stuff.

shiva

The pearl is back and this time they are going to air condition the streets. FFS are they really that ****ing daft, an environmentally friendly project with climate controlled streets.........muppets

http://www.arabianbusiness.com/50615...or-dubai-pearl

Eeyore

Heh! Love the way they phrase that article to suggest that it's just a "repositioning" rather than a rescue package for a development that failed over a year ago

On the subject of Failed Developments That Officially Didn't Fail, No Sir, Developments Don't Fail Here In Dubai, Not Now, Not Ever, what's happening about the Lighthouse? Is that actually being built now? If not, did the investors get their money back?

Number7

About the UAE monetary policy, there's no deyning that the UAE won't give up the concept of peg to dollar for several reasons.

First, the GCC aims at creating a union monetary whose the leader Saudi Arabia have so savings in the US that they are compelled to peg its currency to the US dollar. Thus, the UAE have to floow the same way
Moreover, to peg a currency creates stability and a stable atmosphere for foreign investment.

However, change the peg is a credible possibility but the rate would change a bit, not a lot.

IndieG

It will be relaunched - as the Darkhouse - only difference now is that the building will have no power supply as DEWA cannot keep up with demand anymore

B.Geezer

Dubai will slow down - there is no doubt about it. Abu Dhabi is the place to looks at in the UAE. Dubai is floating on borrowed money and has to keep priming the pumps to keep it burning, that's not to say it will not work and I don't think there will be a collapse - just a slow down.
AD on the other hand, has the money and the reserves. It will build a great city and people will go there. It will last a long time because they can finance it without borrowing.

Just my opinion of course so not banging the drum but it is a nice place.

Autonomy

not sure about the Dubai part of your post (for some reason I really think Big Mo will pull it off and Dubai will make the transition work), however I totally agree that AD is the place to invest now and will be the long term best bet in the UAE...