News from Dubai,

OnCallZ · 03-24-2009, 11:55 PM

Job losses hasten property decline in Dubai but medium-long term outlook upbeat | Middle East | News

I've been there for business and there are a lot of abandoned luxury cars in the airport parking, really breaks my heart.
With the oil price decline and decrease in tourism, things aren't going so well there.
"with the local index declining over 60%, there will be less revenue to go around, and therefore less revenue to justify . . ."

Cars range anywhere from a 40k to a 100k+ car.

BMW Killa · 03-25-2009, 12:19 AM

Not surprising to be honest. I don't think one needs to be a financial genius to know places that rely on "extra" spending are going to be hit, and that's all dubai is, a place for extra spending.

03-24-2009, 11:55 PM	#1 (permalink)
OnCallZ Base Member Join Date: Jan 2009 Location: Florida Posts: 108 Drives: g37 Rep Power: 16	News from Dubai, Job losses hasten property decline in Dubai but medium-long term outlook upbeat \| Middle East \| News I've been there for business and there are a lot of abandoned luxury cars in the airport parking, really breaks my heart. With the oil price decline and decrease in tourism, things aren't going so well there. "with the local index declining over 60%, there will be less revenue to go around, and therefore less revenue to justify . . ." Cars range anywhere from a 40k to a 100k+ car.

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03-25-2009, 12:19 AM	#2 (permalink)
BMW Killa Enthusiast Member Join Date: Jan 2009 Location: FL Posts: 287 Drives: neezmo Rep Power: 188	Not surprising to be honest. I don't think one needs to be a financial genius to know places that rely on "extra" spending are going to be hit, and that's all dubai is, a place for extra spending.