What is Trump saying about investment in Dubai, in action and in word?

Item - Today's Gulf News:

Headline: Trump dismisses talk of realty bubble
. . .
Speaking with Gulf News on the sidelines of Dubai's Cityscape property exhibition, Trump [Jr.] said a cyclical lull will hit the market where the velocity of sales drops and weak developers are weeded out.

But he said Dubai's tax free status, its political stability and the freedom given to developers to design innovative projects will sustain investor interest.

"If you say there will be a correction long enough, eventually you'll be right because everything is cyclical. Dubai will never always grow at 25 per cent per year," he said.

"I'm expecting the market to re-centre, which will probably happen in two or three years, but it will affect different properties in different ways."

"The nature of real estate is that people who were able to weather the bad times will always do well."

Hmmm. I love how real estate folks talk - velocity, re-centre, weeded, weather.

Item - USA Today October 5, 2005:

The Trump Organization is not required to invest any money, but is providing its brand to projects that could be entirely financed and built by Nakheel, Bin Sulayem told Dow Jones Newswires.'We're tapping into his knowledge and ability in the high-end sector,' Nakheel Chairman Sultan Ahmed Bin Sulayem said of Trump.

Finally, via a comment at UCB this item also dated October 5, 2005 at AMEInfo. Extract:

Sultan Ahmed Bin Sulayem, Executive Chairman, Nakheel, commented, 'The Trump signature brand is synonymous with the most prestigious properties in the world, and we embrace his interest in working together. This is the first time that The Trump Organization has invested in real estate development in the Middle East. This illustrates the present level of confidence in both Dubai and Nakheel's developments. We look forward to working with The Trump Organization - a world class operation who shares our commitment to excellence."

Questions: Has The Trump Organization invested money in Dubai? In 2005? In 2006?

Is 7DAYS still around?

"7DAYS? I'd much rather read PRAVDA"

Does anyone know if 7DAYS is still publishing an actual newspaper? Because while I enjoy reading it online, I can't seem to find a hard copy anywhere.

Comments are welcome HERE

HIGHLY RECOMMENDED READ

Big report, but worth the read. SERIOUSLY!( 800kb)

Human Rights Watch report on human rights violations in Dubai (mainly among the working class labourers).

L'il Bush ...

... serves falafel.

The Emirates Airline Dubai Rugby Sevens part 1 and 2 with 3 to follow:

http://www.youtube.com/watch?v=Y54c2JcEl28

http://www.youtube.com/watch?v=VixVSF5w75o

borders..

looking at a regional map today i noticed that between saudi arabia and the UAE the border was noted as undefined..

i was wondering how an undefined border is administered and how such status impacts daily life and local administration..

wishing you all a great week..

Shh its haram!

Is it just me or is there a burgeoning gay community in this land?

The Rain Effect

I've heard quite a few crazy stories about flooded streets[by flooded I mean 3-5ft of water] all over UAE...Quoting one of my friends,"UAE has opened the world's first under water city on its national day........ its commonly known as Sharjah..........", so I was wondering if these stories were true & if anyone had any photo's to show cause the news papers seem to have skipped the part where it would it say how the drainage system in many areas sucked, that the authorities were late to react etc.....

Monopoly Special Dubai Edition

I am working on a 'Print and Play' version of the Monopoly Dubai special edition. You can download the high resolution pdf of the board as of now and the cards and currency will follow soon.

I would appreciate some creative input for the 'Chance' and 'Community Cards' to complete the package.

You may remember the Ras Al Khaimah version and the Dubai beta version.

The Problem with Bankers

They're just plain deceiptful. They steal money from customers through cunning little ruses and hidden charges. Of course, it isn't just banks, it's insurance companies, investment houses and all the other wonderful capital institutions. Just thought I'd blog about a simple case in point which I discovered today.

• Bank: HSBC.
• Issue: Cash withdrawal from credit card.
• Ruse: They charge interest from the moment of withdrawal, no grace period (everybody knows this). What most of us don't know is that they waive (thank you very much) the grace period on the entire outstanding balance of the card. So, instead of a little interest on the say Dhs 200 you decided to withdraw, you're suddenly charged 2% monthly interest on your entire outstanding balance. So tricky!
• Bank's explanation: It's hard to segregate the cash withdrawal from the rest of the balance and charge on that separately.
• Last word: Give me a break!

Christie's and the Rush to "Discover" the Arab World :: counterpunch

Quote:

The May 2006 opening of Christie's Dubai marked a new era for modern and contemporary Arab art. Establishing record prices for several pioneering artists, the inaugural auction affirmed the growing popularity of art from the region. With sales reaching well over $8.4 million, many observers of the field predict the auction could generate a greater place for Arab art in the international market. Some have even gone as far to claim that the record prices will serve to further legitimize Arab artists in the global art scene. Since market values do often dictate the momentum of the international art world, there may be some truth in these remarks. Given the social history of art however, the introduction of the major international auction house to the Arab world should be measured with caution.

The expansion of the Christie's conglomerate to include the Middle East is a prime example of globalization, a logical step in the latest campaign to assert American and European political and economic dominance.
. . .
The current construction of expansive arts facilities in cities such as Doha, Dubai, Sharjah and Muscat will lure generations of young Arab artists into art scenes unlike those that exist elsewhere in the Arab world today, the greatest emphasis will be on market value, the potential death of future revolutionary art movements.
. . .
Notwithstanding the space Arab art has been given in major American and European museums and institutions, an examination of curatorial statements and exhibition catalog essays provides clues into some of the ideological frameworks from which this rush to "discover" Arab art originates. With statements such as:

We [Europeans] do not understand that you can go directly from a tent to a skyscraper, from a camel to a six-cylinder. And yet for artists of the Arab world this process is a matter of course, and this concept is important in the way the cultural side effects illuminate it.

the Arab world is reduced to an "archaic" (a term used to describe the region earlier in the catalog by a different curator) land that is just emerging into modern times. These blatantly racist projections of Arabs not only maintain notions of Western superiority and Middle Eastern inferiority, they work to reduce the importance of the art exhibited and silence the creative voices of those represented. In the end the presenting of Arab art only serves to reinforce the exact stereotypes that have been used to justify the exploitation of the region for political and economic gains by several Western governments.

I don't know. Is it blatantly racist? Or is the author looking to be offended? The pace of change in the UAE at least has been virtually "from a tent to a skyscraper, from a camel to a six-cylinder." Both are heritages of which to be proud. To take that pace of change into account helps to understand the strains placed on society and culture and institutions and to appreciate how much they have adapted. And to say that not long ago most people lived in tents and had camels is to make a statement not about race but about the hostile physical environment. The discovery of oil, of course, has made that environment more tolerable.

Good Showing

Opening for Asian Games pretty impressive--at least what I saw of it.

So, will Qatar have a shot at the 2016 Olympics? They plan to bid, but I say no way. Dubai in 2020? Yes, they've got a shot. Better yet, they ought to all go for it as the Gulf Olympics 2020.

UAE celebrates 35th National Day today!

The UAE is celebrating its 35th National Day today. Our prayers and best wishes to a country that is home to more than a 100 nationalities. A country that welcomes people from all cultures and communities. A country where people come to make their dreams come true, and do.

As the UAE prepares to move further with its electoral process and a million other progressive things, we wish the best for its people, both local and expats, and hope to see things getting better and better for everybody in the time to come.

It's great to be in the UAE!

Farrukh Naeem
Copywriter, journalist and advertising blogger in the UAE

[Crossposted on: Farrukh Naeem's writing blog]

Technorati Tags:UAE, UAE National Day, Emirates, Emirati, United Arab Emirates, Abu Dhabi, UAE Photos, UAE Images

Rainy National Day

It's a bit ironic that National Day comes with rain across the country--hardly typical UAE fare. How many times have you heard (or thought today) it's like Sri Lanka, India, the Philippines... in my case Louisiana? It is nice for a change, unless you're on the road. The two or three times a year that it rains are plenty enough for me. I'm sure residents of New Dubai recall the rains of last February with crossed fingers, hoping that it doesn't happen again! Anyone with photos of today's spectacle? Or a rain report from where you are?

150 km west of Abu Dhabi city on the great Habshan/Bab gas reservoir it has been intermittent rain all day, some heavy showers.

Threatening clouds above Grosvenor House, Dubai Marina

GULF NEWS SLANDERS GLORIOUS LEADER!

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