Vicious and bitter article / comment on Dubai
#31
Up in the air
Joined: Oct 2004
Location: I'm global baby!!!!!!
Posts: 7,263
Re: Vicious and bitter article / comment on Dubai
I can tell you that a lot of floors sit empty simply because they haven't been sold (yep, still with developers who were hoping to cash in when prices went up another 200%)....and there are many borrowers who have bought entire floors/buildings and are currently in default...
IG, finance is your world, are you saying there is not much laundering going on here??
Considering the size of the emirate, and its population base... do you know how many banks are here and how much cash they hold?
#32
Re: Vicious and bitter article / comment on Dubai
...... only used for washing (placement; layering), then moved out. This is not the final destination...
PS: the amount that gets laundered here pales in comparison to how much money gets laundered in the US and Europe....
Last edited by IndieG; Mar 23rd 2009 at 2:58 pm.
#33
Re: Vicious and bitter article / comment on Dubai
Sure does. Took my suitcase of grubby dollar bills to the estate agent in Chipping Norton, and he never blinked, he was seeing 500,000 most days.....