You know you are old when you remember that the #emirate of #AbuDhabi bailed out #Dubai in 2008. It took 15 years for Dubai’s real estate market to recover.

Dubai was reprimanded for its reckless investments and over construction. Now that they are resuming construction on Palm Jebel Ali from where they stopped in 2008, are they repeating the same mistake?

https://www.thenationalnews.com/uae/2023/06/01/palm-jebel-ali-set-to-take-its-place-in-the-sun-21-years-on/?outputType=amp

In interesting local news, #PalmJebelAli is happening!

There's actual sensible logic behind them and not just vanity projects. The #UAE is made up of #emirates, each #emirate is its own sovereign #monarchy. #Dubai happens to have a small land area and a smaller #coastline. So #market forces caused this #eventuality.

They built too fast in the 2000s, but now demand has finally caught up with the supply and #construction is back again.

https://www.arabianbusiness.com/industries/construction/dubais-palm-jebel-ali-in-final-stages-of-construction-nakheel-searching-for-contractors-report

#Arab #Arabs #ArabianGulf #Arabia