subject: Is Abu Dhabi City the following Dubai? [print this page] Is Abu Dhabi City the following Dubai? Is Abu Dhabi City the following Dubai?
For those who have been following us for a though, you must previously realize that when we go to Dubai, we do make a couple of trips to nearby Emirates like Abu Dhabi and Sharjah. We visit visit buddies and family, and most of all for Sunil to observe the rapidly growing economical surroundings.
So is Abu Dhabi the next Dubai?
We believe so. Besides Abu Dhabi is significantly smarter, additional affected person and richer!
They've meticulously studied the mistakes Dubai created on its way up.
The mistakes that became a catalyst as the international economic slowdown arrived upon the world in 2008.
Abu Dhabi could possibly make new errors of its personal, however it definitely won't repeat Dubai's.
Additionally, Abu Dhabi has a significantly more robust financial basis than Dubai. Dubai relied heavily on trade at its ports, tourism (hotel industry) and actual estate appreciation due to the expat revolution when jobs had been on the rise. Less than 7% of Dubai's yearly GDP came from oil. Abu Dhabi on the other hand was sitting on over fifty many years of oil reserves as of 2008. They're just normally more gifted.
Abu Dhabi is additionally more fiscally conservative. For instance, we don't feel that it will gamble absent futuristic oil income and securitize it to borrow cash to quickly develop real estate tasks like Dubai.
See Dubai's major difficulty, apart from the core fundamentals, is that it over promised (to the planet) and under delivered. We wouldn't say that it failed to see what was coming, fairly it did not care to even believe about it. If you have witnessed the sixty Moment interview with Sheikh Mohammed you realize what we're talking about (a should see video clip).
Now we have decided to dedicate a few of our time creating this little sub area of our internet site. We plan on covering a number of the same topics we coated for Dubai. We'll maintain including to it as we go on to pay a visit to and discover extra about Abu Dhabi Metropolis. We wish to be your guide because the metropolis progresses to turn into a reliable and desirable Emirate-Nation.
As Ad develops, extra jobs is going to be developed and more expats will move causing the actual estate infrastructure to create too as a number of industries to support a growing Emirate. Think about the improvement of Dubai. This will be no diverse on the surface, nevertheless much more powerful in its foundation, fundamentals and long term options. At least which is what we believe, and that's what Advert has promised us all :-)
