Opportunity Dubai No1 bestseller
Posted on 01 January 2009 with no comments from readersOrder my book online from this link
Happy New Year to all the readers of this blog, and a big thank you to everybody who has bought my new book ‘Opportunity Dubai’ which is the No1 bestseller at the Telegraph Business Book Club, a nice start to 2009 for any author!
With the Dubai Financial Market down 72 per cent in 2008, actually worse than the 44 per cent correction of the crash of 2006, and house prices tumbling since last October and the oil price collapse, there is cause to reflect on what opportunities might be left in Dubai.
Business start-up
On Sunday I meeting some local entrepreneurs who are starting a new website venture, and wish them well going into a very tough year for advertising sales. It will get better, of course, and if you start down then the only way is up.
Real estate will also bounce back in due time. I was far too optimistic about prospects in 2008 and property rode on the back of the oil price boom until it went bust. We will first find a bottom and then hopefully new sources of local home finance will begin to rebuild the confidence of buyers.
Hotels fight back
But 2009 is not going to be an easy year for anybody, and the cull of staff will continue in many sectors. Even the once booming hotels have been humbled and are offering 50 per cent room rate discounts from January 10th and 25 per cent off their inflated food and beverage charges.
It will be the year of the discount in Dubai, and that is another way a market orientated city will recover. It just might not feel like it at times. Good luck whatever your endeavor!
no Comments posted by readers:
Opportunity Dubai is still not actually available in Dubai! We are waiting for the local censor who hopefully will not find too much to object to in this book which is now clearly a source of inspiration for foreign business and therefore ought to be of value locally.
There are still a lot of opportunities in Dubai for investing in properties and since there has been a crash in the real estate market there are good bargains which will prove profitable in a few years time.