Crash or Schadenfreude?

Various articles have posited that Dubai has suffered some sort of economic crash.  Anecdotally, what has happened is that many investors, developers and businesses are taking a deep breath.  How long can one inhale is the question.  Some people feel that the media have been too quick to declare a crash here.  Perhaps it is just Schadenfreude, a delight in seeing smarty-pants Dubai take a drubbing.  That is discussed by one Peter Cooper in his blog entry, “Global Media Turns on Dubai“.

Currently, it comes down to being a crash if you or your loved one lost a job, a “wait and see” if you haven’t.

Arbitration Week in Dubai

A big week coming up for the world arbitration community in Dubai!  First, my home arbitration centre, the DIAC, is having a dialogue on Sunday afternoon.  Many issues relevant to arbitration in the UAE will be discussed.  Please go here and click on “program” to the left to see the list of items.  It will be sure to be a lively discussion!

Then, the IBA events begin!  First, the welcome function Sunday evening.  Then two days of interesting events – go here to see the topics.  Should be great!

Gulf Economic Outlook

As I mentioned yesterday, I attended the IMF briefing on the economic outlook for the Gulf and beyond at the DIFC.  You can get the main presentation here!  Lots of good information.  Or you can pay me to give you my views!

The Economy

I went to the briefing by the International Monetary Fund yesterday.  It was held at DIFC, my new stompin’ grounds.

In the main, the news was gloomy, as one might expect.  However, I came away knowing that I am in the best possible place on the planet that I can be right now – the Gulf.  Oil spending will buoy the economy here, and the growth of the past half-decade will allow us to fall more slowly and not into a deep recession – please see the news report on the briefing.

So, I breathed a bit of a sigh of relief, although we will have some tough sledding before we cruise freely again.

Still Opportunities in UAE Real Estate!

I have been in the UAE just over a year and a half.  I finally feel as though I am getting some of the inside scoop on business here.  Even real estate.  There are still good projects.  You just need to know how to separate the wheat from the chaff.

I guess that should be no surprise.  This is a booming region.  Of course there will be good deals to be found.  Also, this region has attracted some of the sharpest operators around.  No surprise that you have to watch yourself.  No-one is giving away money for nothing!

But is feels good to get a handle on things here.  Inshallah, it will continue.