Cityscape is known for launching some of the world's biggest real estate developments. From Dubai's palm shaped islands to the world's tallest tower - chances are you saw it here first. But this year things are different, as Ben Thompson has been finding out.
Ultimately, I think the value of real estate is a function of the integrity of the underlying government. That's the challenge Dubai faces. I doubt they can instill the kind of confidence in foreign (or native) ownership it takes to give much weight to a property's future earnings potential. Dubai's mistake was to spend money attracting the least skilled temporary citizens, rather than the most skilled permanent citizens by building universities and research parks too irresistible to pass up.
ananiasacts 2 years ago