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1.Market Observations

21 Nov 2012 (AFR, F.Times) – Dubai rises from the quicksand

(21 Nov 2012, AFR, p20, Roula Khalaf, and Financial Times)

Dubai hopes revival is built on solid foundations

‘You feel it in the thickness of the traffic and in the bustle of the hotels and restaurants. You hear it in the rumours of the old guard re-emerging to lead the city’s growth again.’

‘And, to the joy of some and the concern of others, you see it in a slew of announcements of new development projects. Not long ago down and out, Dubai is back, its confidence restored and its ambitions regained.’

‘Last week, officials predicted that the emirate’s gross domestic product will average between 4.5 and 5 per cent through 2015. Writing in the National, the Abu Dhabi newspaper, Sami al-Qamzi, head of Dubai’s Department of Economic Development, sounded a bullish note, declaring that the emirate was emerging stronger and more mature from the global downturn.’


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