On 08-Dec-11 10:14 AM, Mahesh Murthy wrote: > Somewhat chilling article on Dubai in The Independent. > > Comments? First-hand experience? > > http://www.independent.co.uk/opinion/commentators/johann-hari/the-dark-side-of-dubai-1664368.html
Firstly, note the article is 2.5 years old. That said, it was true enough then, and is still true (albeit somewhat less so) now. A family member has been in the real estate business in Dubai (first as an agent, then as part of a boutique fund) for several years now, including when the bust hit. There was (literally in some cases) blood on the streets, as several thousand real estate agents found their livelihood evaporating. Bottom line: there is a much more clear realisation among expats that the life they have (assuming they still have it) could go away overnight. The standard NRI line of "We'll move back next year" has acquired more urgency. Udhay -- ((Udhay Shankar N)) ((udhay @ pobox.com)) ((www.digeratus.com))
