Dubai a Miracle or a Mirage !?

Dubai’s transformation from a fishing village to a global real estate hub has been nothing short of remarkable. the city’s economic growth has been nearly unparalleled over the past two decades. Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, summed up the ambition of his people in a quote: Dubai will never settle for anything less than first place. In Fact Dubai today has the : World’s tallest building – Burj Khalifa . World’s tallest hotel – JW Marriott Marquis Hotel . World’s largest shopping center – Dubai Mall . World’s largest indoor theme park – IMG Worlds of Adventure . World’s Busiest Airport – Dubai International Airport . World’s longest fully automated metro network – Dubai Metro . In 2009 just as Dubai was hitting its stride, the global financial crisis blew in and choked the pipeline of money flowing into the growing city. Headlines around the world proclaimed that Dubai’s real estate bubble had finally burst. Though the financial crisis was a setback, the city’s development industry has recovered admirably. Going into 2017, there were 11,600 active projects worth over $800 billion. Expo 2020 is expected to add fuel to the twin engines of Dubai’s economy: real estate development and tourism. Here at The Atlantis Report we have mixed reports on Dubai and its real estate market , some positive and some negative , we will list them here below starting from the negative ones : Dubai is a money-launderers dream come true. Dubai has empty skyscrapers all over the place, Similar to those ghost cities in China. It is a dusty house of cards, built using the cheapest Chinese materials on a foundation of sand. And when it run out of oil it will all be covered by sand.The desert will reclaim it soon . The city has no soul. The Temperature is 100 degrees year-round , with and extreme heat and humidity. Dubai is all built by slaves from south Asia. Dubai is built on debt, the debt accumulated is huge. And the Banks owned everything after the property bubble of 2009 . in Dubai there is only desalinated water and it is hard on the skin . Dubai is a kingdom, not a democracy. Dubai is the ultimate wealthy, decadent site just waiting for a jihadi opportunist to smash. or sea-level rise, Or Iran to Bomb them into oblivion . You have no rights of residency other than a 3 year visa. If you break the law, consequences can be extremely penal. Barely a week goes by without reports of another westerner falling foul of their so-call justice system. Everything in Dubai is Overpriced . Dubai is a castle of sand that eventually will fall in the sea . The Dubai bubble is going to implode again and this time there may be no coming back. And here some positive reports we list here below : Dubai has no income tax. If you like shopping, dining, night clubs, Dubai is the place for you! There's some really nice homes over there. If you want to live where the wealthy of the world have their third or fifth homes this is the place. Its a brand new city so it has the most modern architecture you can imagine. Prices went up 300%+ since those homes were built a few years ago. If you have lots of money Dubai is fun. The Economy in Dubai does not depend on oil . there is a overabundance of beautiful women available at every hotel and bar , Russian,Chinese ,Ethiopian , Filipino , you name it . The booze flows freely and gambling is possible. The Iranian and many rich Arabs from surrounding countries go there to party ,this is the sin city of the Mideast . There is a joke that the national bird of the United Arab Emirates is the crane. It is certainly the case in Dubai - look in any direction and you will see cranes erecting new, large buildings , and beautiful man-made island communities in the Gulf. Truly amazing. It is up to our readers to decided if Dubai is a good place they want to invest in and eventually live there or it is a place to avoid at all costs .










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