Join emerging market investment guru Chris Mayer on his three-day tour of Dubai with ArabianMoney editor and publisher Peter Cooper in the third anniversary issue of our sister investment newsletter. Today is the last day for our 50 per cent discount offer (subscribe here and we will send you the current edition straight away).
We get a first-hand view of Dubai just four years after its world-class property crash and three years after a debt crisis that shook global confidence in the city. The recovery that started when DP World signed off its $25 billion debt rescheduling in August 2011 is now in full swing.
Historic oil revenues
You could say that is not so surprising with oil revenues at their highest in history last year. Dubai after all is the trading and commercial hub of the region. Then again the same record low interest rates that have also ended the US Great Resssion have allowed Dubai to refinance its debts and have boosted investment in local real estate.
The smart money of the Arab Spring is also flooding into Dubai boosting real estate and stock prices. We see no end to this flow of cash into the city from this tide of human misery. Oil States are spending at home to counter potential unrest and that money comes to Dubai as new business and tourism.
Dubai has an across the board recovery. Local equities jumped 20 per cent last year and were up almost as much again this year before what we think is the start of a global correction. Real estate prices also gained sharply ? with Dubai villas amongst the top three global best selling realty investments last year ? but they have drifted down since a shock announcement from the UAE Central Bank on mortgage lending in the New Year.
Buying opportunity?
Any price weakness in Dubai stocks and real estate is a buying opportunity. Normally the hot summer is the best time for bargains. The ArabianMoney investment newsletter is the only independently written guide to these investments.
Just as top US newsletter writer Chris Mayer, whose ?Capital & Crisis? and ?Mayer?s Special Situations have a combined circulation of 26,000, turned to ArabianMoney as his tour guide last month so you can have us as your expert on the ground.
Things are going to get very interesting for investors in Dubai over the next 12-24 months at a time when investments in other parts of the world may not look nearly so strong. Inflation and high oil prices are a plus for Dubai, not a reason for depression like most everywhere else.
Dubai?s population and GDP growth will boom again and early investors will make a lot of money.
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