Dubai: The City on CRACK. (Updated)
UPDATED SPX chart below (9:05AM). Looks like we will breach the 2 nearest support levels, breaking away from the short-term neutral consolidation. Support may be needed around 1070-1075.
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I got this e-mail from my friend Shane on January 30, 2008. Obviously, stuff has change since then, but I will just keep the wording as I got it. Since I’m a visual guy, I just like to look at the pics. Dubai better get their debt issue solved, or else POOF!
Hope everyone’s having a great Thanksgiving Day!
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Dubai in 1990 prior to the craziness:
The same street in 2003:
This is 2007:
The madness. Dubai is said to currently have 15-25% of all the world’s cranes:
The Dubai Waterfront. When completed, it will be the largest waterfront development in the world:
All of this was built in the last 5 yeas, including that island that looks like a palm tree:
The Palm Islands of Dubai. New Dutch dredging technology was used to create these massive man-made islands. They are the largest artificial islands in the world and can be seen from space:
Upon completion, the resort will have 2,000 villas, 40 luxury hotels, shopping centers, movie theaters, and many other facilities. It is expected to support a population of approx. 500,000 people. It is advertised as being visible from the moon:
The World Islands. 300 artificially created islands in the shape of a world. Each island will have an estimated cost of $25-30 million:
The Burj Al-Arab hotel in Dubai. The world’s tallest hotel. Considered the only ‘7 Star’ hotel and the most luxurious hotel in the world:
Hydropolis, the world’s first underwater hotel. Entirely built in Germany and then assembled in Dubai. It is scheduled to be completed by 2009 after many delays:
The Burj Dubai. At an estimated height of over 800 meters, it will easily be the world’s tallest building when finished. It will be almost 40% taller than the current tallest building, the Taipei 101:
Downtown Dubai:
The Burj al-Alam, or the World Tower. Upon completion, it will rank as the world’s highest hotel.:
The Trump International Hotel & Tower, the centerpiece of one of the palm islands, the Palm Jumeirah:
Dubailand.The largest amusement park collection in the world is Walt Disney World Resort in Orlando, FL. Dubailand will be twice the size:
Dubailand will be built on 3 billion sq. ft. at an estimated $20 billion price tag:
Dubai Sports City. A huge collection of sports arenas located in Dubailand:
Dubailand is expected to attract 200,000 visitors daily:
The Dubai Marina is an entirely man-made development that will contain over 200 high rise buildings when finished. The completed first phase is shown:
The Dubai Mall will be the largest mall in the world with over 9 million sq. ft. of shopping and around 1,000 stores. Was it completed in 2008?
Ski Dubai (already open), is the largest indoor skiing facility in the world:
Some of the tallest buildings in the world, such as Ocean Heights and the Princess Tower, which will be largest residential building in the world at over 100 stories:
The UAE Spaceport would be the first spaceport in the world if construction ever gets underway:
Other stuff:
-The Dubai Metro system, once completed, will be the largest fully automated rail system in the world.
-The Dubai World Central International Airport will be the largest airport in size.
-There are more construction workers in Dubai than there are actual citizens.
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*My girlfriend has already been to Dubai and I am the process of jacking her pics. Will update later.
The SPX is currently (at the moment) scheduled to open down over -2%. Keep in mind that all of this could change come tomorrow pre-market. Support is noted below:
UPDATE: Some of the gf’s pics here from random places, like Ski Dubai, the Dubai Aquarium, a mall, museum, etc. Will have more up later.
Present-day Dubai (summer 2009):
NLP visual? I’m heavily kinesthetic. Absolutely Incredible Pictures.
Happy Thanksgiving, by the way.
thx chris
Tall buildings have only caused problems.
Ex: Tower of Babel
pretty amazing…reminds me of city shots you often see in sci fi movies
I know many will say its unsustainable, but they are in the middle of africa, europe, asia.
They have 1 billion indians, alot of africans, alot of middle easterners, alot of europeans, that will be going to Dubai. I think that place has a bright future. I cant wait to visit it one day.
“The Burj Al-Arab hotel in Dubai. The world’s tallest hotel. Considered the only ‘7 Star’ hotel and the most luxurious hotel in the world”
The Burj Al-Arab used to be the tallest hotel in the world. That title is held by Rose Tower now (also in Dubai). Dubai is a great place to visit - hope they make it through this debt fiasco!
Amazing how things change so quickly.
Looks like I will have to post a revised SPX chart, but support levels are way down
ooh babe` the markets goin down but dont worry, i’ll get you up
=)
EXCUSE ME!! This is IBANKCOIN not IBANGPORN.com
If the markets open down 3-4% lower where the pre markets are showing now around 1069 on S&P, that considered a breakaway gap down? If so, haven’t seen this at all on the rally up. Good time to short or wait for more confirmation of a breakdown? You see the next support level at 1030 on S&P or possibly the upward trendline of the Aug, Sept, Nov lows? Thanks CA!
This is a very interesting blog. A link to it was flashed on Investor Village, the High Yield Income Investing thread: http://www1.investorvillage.com/smbd.asp?mb=6468&mn=9206&pt=msg&mid=8231558
where we are waiting to see how the world reacts to this Dubai World debacle.
Just a note in passing about that 7 star hotel, you can actually make reservations to stay there. They must be expecting a steady traffic of some of the richest people in the world to fill those 2000 rooms. Average DAILY rates were 6500 EUROs……with some of the pricier suites going for over 11,000.
My High Income investments, while good, will need a LOT of maturing before I’ll be able to camp there!
The pictures are excellent. They bring a perspective the financial media and thousands of blogs and posts cannot.
Yes, it is amazing how things can change. I see it as a parallel to markets and trading. You can ride it up and/or ride it down, sit it out, or mind your own business and somehow end up as collateral road kill.
WOW - who is going to fill the space in this Mecca ?
HAPPY BLACK FRIDAY!!!! Time to buy discount stock
HEB
HEB moving
AONE moving
. . . . And to think it’s all built on sand!
. . .Sand and saltwater
And there is unlimited desert and shallow sea to build there.
SEED at it again…
SEED The authorities have given approval to the world’s first genetically modified phytase maize to Origin Agritech.
AIG for short
Ascending wedge on /6E since 9:30 this am, should break soon
SOMX
Bought $SOMX 4.135
Sold half $SOMX 4.325
Sold 1/4 $SOMX 4.25
STEC
AONE
Sold 1/2 of final 1/4 $SOMX 4.50
Sold all $SOMX 4.71
Bought $TGB 3.328
Sold half $TGB 3.39
good catch, CA
Sold 1/4 $TGB 3.5305
Sold last 1/4 $TGB 3.45/46
Nice, no resistence now on the daily either…
GSIT
exploding!
anyone short on AIG???
Another 100% win percentage day. Done for the day.
feed
hi,
just a question. is now a good time to short sell the DFM ( dubai financial market)?
great site btw.
thanks