Archived posting to the Leica Users Group, 2009/11/20

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Subject: [Leica] IMG: Short Trip to Abu Dhabi
From: hewthompson at mac.com (Hugh Thompson)
Date: Sat, 21 Nov 2009 10:15:52 +0500
References: <A3A50C52-F96E-4E05-A551-0BFC59FF98D0@mac.com> <3cad89990911201908t4553cb10m4c1f1f92f2ad192b@mail.gmail.com>
 
Jayanand - I am sure you are right about some of them, but the ones I  
saw were going full steam ....... the construction company I met with,  
has orders in hand, to start as soon as they have completed their  
current projects ....... the slow down probably effects Dubai more  
than Abu Dhabi

Best

Hugh


On 21-Nov-09, at 8:08 AM, Jayanand Govindaraj wrote:

> Actually the cranes are probably just standing still - the real estate
> prices in the Emirates are down 50-60%, and construction is at a total
> standstill. Dubai went bankrupt and was saved by a US$50 billion cash
> infusion by Abu Dhabi (the only one of the seven Emirates with  
> substantial
> oil). This is what happens when speculation is mistaken for true  
> economic
> activity.
In reply to: Message from hewthompson at mac.com (Hugh Thompson) ([Leica] IMG: Short Trip to Abu Dhabi)
Message from jayanand at gmail.com (Jayanand Govindaraj) ([Leica] IMG: Short Trip to Abu Dhabi)