Dubai is absolutely crazy. Supposedly 20% of all the world's cranes are in Dubai. There is construction everywhere. But so far, demand still seems to be outstripping supply. We talked to a few ex-pats who were renting homes in Dubai. They said that for a nice, 3br/2ba place they were paying us$20,000 per month in rent!!
Everyone we talked to on the commercial side said they were sold out as well as so many multinational companies are moving their Middle Eastern headquarters (or global headquarters, like Halliburton!) to Dubai and need real estate.
More to come.
Dubai in 1990
Dubai in 2008
Dubai in 2008
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