A $20 billion refi at 1%? You’re kidding, right?

No photo to share. No need to. Read on. International Monetary Fund estimated that the emirate of Dubai faced $30 billion in maturities this year. That is reportedly equal to a third of its annual economy. But --- an agreement was reached last March allowing the sheikdom to refinance $20 billion at 1% fixed interest, …

Big? Uh uh. Momentous! It’s Dubai. Now what?

Purportedly the largest infrastructure project in the world is in the oven. The monstrous Dubai Water Canal project was launched last October by the Ruler of Dubai, H.H. Sheikh Mohammed bin Rashid Al Maktoum. What is it? It’s a 3 kilometer (1.8 mile) canal that stretches from the Arabian Gulf inland into the heart of …

Dubai is world’s 7th most expensive city in which to live and work

2 March 2014Following last year’s 41% increase in Dubai’s rental cost index, it now costs an average of just under $72,000/year per employee to rent a residential and office space in Dubai according to Savills World Cities Live-Work Index, as reported in Arabian Money. Savills’ rankings have as much to do with global profile and …

Dubai’s rising house prices are the world’s fastest. Dẻja vu again?

22 December 2013 Through the end of this year’s 3rd Quarter, the emirate of Dubai’s residential property prices are the world’s fastest rising, surpassing the extraordinary price rises in China, Hong Kong and Taiwan, according to renowned property broker Knight Frank. Get this ~ Through the first nine months in 2013, residential prices in Dubai …

Interviewed Live on Dubai TV

November 2013 Interviewed by international broadcaster Derek “Tommo” Thompson at the One World – Five Continents Conference in Abu Dhabi in November, Steve discussed the emirate’s rulers’ mindset to THINK BIG – quantum leaps, not incremental steps, and at record-breaking pace. Pick up the book STAYING AFLOAT – Three Years in Abu Dhabi to acquire …

Paul Cėzanne’s painting sells for a record $250 million!

October 27, 2013 Qatar, a tiny Arabian Gulf country with enormous wealth and breathtaking cultural ambitions, has become one of the most –if not THE most– influential buyers of art in the world today. The $250 million paid for one of Cėzanne’s five The Card Players in 2011, is the highest known price ever paid …

Celebrating with Emirates Team New Zealand following its victory in the Louis Vuitton Cup Final

Steve and Pamela share in the celebration with ebullient Dean Barker, skipper/helmsman of Emirates Team New Zealand, following Emirates Team New Zealand’s victory today over Italy’s Luna Rosa in the Louis Vuitton Cup Final. ENZ advances to the 34th America’s Cup against Oracle Team USA beginning on September 7th.

Middle East Cities Vie to Have Biggest and Best Airport

August 6, 2013     WALL STREET JOURNAL     By Eliot Brown, Rory JonesMiddle East cities are racing to develop dominant international airports as luxurious transfer points for a fast-expanding global aviation market.On a sprawling patch of sand near downtown Abu Dhabi, thousands of workers are building the foundations of a new $3 billion international airport terminal, which …

Where are the Americans in the America’s Cup?

July 7, 2013 There is no nationality requirement that sailors on each of the four competing teams in the America’s Cup hold a passport originating from the country for which they are sailing. Artemis Racing (Sweden), Emirates Team New Zealand (New Zealand), and Luna Rossa (Italy) are competing for the Louis Vuitton Cup --- the …

Huge demographic population imbalance in Arabian Gulf countries

July 3, 2013 The expat population in the Arabian Gulf countries --- defined as being a citizen from another country, thereby requiring a work visa --- accounts for at least 31% of their combined populations, as reported yesterday in Arab News. By the numbers, 12.5 million out of 40 million are foreign workers: 26% of …