Quote:
Originally Posted by PA Pride
By the way, the global slowdown right now has halted many projects planned for Dubai. I think you'll see their explosive growth slowing down considerably in the future.
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Yes i agree 100%. However, Dubai was growing at a sickening rate of what , 500% ?
65% of the proposed project have been put on hold for 1 year ... the ones that have been announced and broke ground are still under construction , so i would say that put Dubai at a healthy 110% sickening construction growth rate
Economics can be as complicated as it wants to be , but one thing is crystal clear. When Shiekh Mohammed approaced the president for financial aid , he clearly said he was ok with paying the trillion+ he needed for the approved u/c projects but under one condition , that NONE of the proposed projects take shape until things are ok again. and thats what is happening now.