Good news from Dubai!
Good news from Dubai! A little desert emirate normally gets his excessive wealth from oil fields. Dubai tried to do it differently by building property that no one really wanted. Ok, they had to, because it seemed they didn’t had any oil.
Seemed indeed, Thursday Sheikh Mohammed bin Rashid Al Maktoum announced the discovery of a new oil field. It remains to examine how big the field is and when they can start drilling. But ok, it looks promising. The discovery “will contribute to enhancing the economic capabilities of the nation and increase its oil production, and therefore have a wide-ranging positive effect.”
They can use a wide-range positive in Dubai. Although the emirate officially solved their cash flow problems, they’re still faced with an estimated debt of $ 150 billion.
Having lived through the excesses of the Costa Del Sol in the last decade. Including working in the property boom to bust and timeshare.(Those nasty sales people! )
I have to admit to being mugged by our North African friends. Stabbed in Fuengirola.Yes, you knew it would be near the London Pub!
Meeting the multitude of fresh faced hopeful british bar owners, paying excessive rents to dubious ex pats and losing everything.
Sure I’ve been broke,only had a bag of Oranges to my name. The next moment flying in a helicopter to my favourite restaurant behind Puerto Banus. The costas was like that though!
So now its Dubai. And yet Dubai stands out like a shinning beam of hope. No Crime,strict multi cultural society with a bit of good old religion waking you up at 6 in the morning. Yes, the ex pats are here, but corralled in to a small number of hotel bars along with the huge number of prostitute’s. No people, not 2nd line at Puerto Banus! Ladies of the night, tolerated by a society that will jail you for petting in public!
The positives? There is a real feeling of optimism side lining the financial woes. You are not aloud to speak in public about the recession. As decreed by the popular Sheik Al Maktoom,ruler of Dubai.
So you need to know to the ground rules. Here a word of warning, no corruption tolerated. Believe me, we are guests. Enjoy Dubai, but please keep a low profile because there are more powerful forces at work here, than at the corrupt Marbella Ayuntamiento.
And the oil..well its god’s will “Inshallah”