Have you ever seen money oozing from everywhere?

Have you ever seen money oozing from everywhere?

Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes

If not, then you probably have not visited Dubai. Wifey and I returned a week ago from a land tour and cruise in the Arabian Sea. We visited several locations in Oman and two of the seven emirates in the united Arab emirates, namely Dubai and Abu Dhabi. I have never seen so many BMWs, Land Rovers, Land Cruisers etc. in my life! I was also told during my visit that Dubai is the safest place in the world to live and after spending a week checking out all the sites, I would tend to not disagree with them. Here are some of the interesting tidbits that I took with me from my visit to that area of the world.

There is no socialism. You are expected to work and over 80% of the occupants of Dubai come from other countries with the largest India, with 27%. You obtain some sort of a work visa and must report regularly. If you lose your job, or quit, you have 30 days to find a new one or leave the country.

Rents are paid a full year in advance and if you are renting for two years, you pay the first year in advance and give the landlord 12 checks for the following year. If any of those checks bounce, you go to jail.

I saw an ATM machine Dubai style. It was for gold not cash! You entered your credit card and selected from five different options for gold.

If you are a true Emirati, you receive a car and three houses. You are expected to live in one house and rent out the other two houses for your income.

Dubai has the world's tallest building at over 200 stories. Wifey and I were able to go up to the highest viewing area at 124 stories. Pretty nice.

We also went in supposedly the world's largest mall with over 1200 stores. These were not little holes in the wall but really nice shops. This mall also had a full-size ice rink and a three-story aquarium to rival aquariums at places like Sea world in the United States. This aquarium was located right in the middle of the mall for all to see, free of charge. It also had a Victorias' Secret- I guess underneath the robes the women are the same around the World!

They are also building Dubailand which will be an absolute monster of an amusement park much like a Disney world. I'm not sure what they are going to do about this during the summer when temperatures reach 130°! Maybe they will build a bubble over the entire park or air-condition it.

There is also Ferrari World which has I believe a Lemans type racetrack as well as other amusements.

The architecture is phenomenal on the new construction going in, much of it in the last five years. I saw buildings shaped like a gigantic sailboat. I also saw the building shaped like a giant half-dollar. My favorite was a building that looked like originally a rectangle that they had twisted one way at the top and another way at the bottom. I don't think I saw any two buildings the same in my visit.

They are also reclaiming land from the sea. You may have heard of the palm tree that can be seen from space. This is land that has been reclaimed and used to form what looks like a palm tree with giant frons. This is the first of three they will build and is not just a gimmick. The first one will house over 250,000 people and have all the commercial area, a monorail system, and already has over 50 five star hotels. We also saw a seven star hotel! I didn't even know they existed. They were also really nice housing areas and the wealthy of the world are buying condos and homes there - like David Beckham.

They also have another area they have reclaimed from the sea that is called the world. If you look at it from space it is designed just like our world looks on a globe. If you have enough money, you can buy Australia for example or other countries and design them anyway you want!

I believe Dubai will become the financial center or one of the financial centers of the world due to their attractiveness to businesses. There are no property taxes in Dubai nor are there any income taxes. A foreign country may come to Dubai and build their office headquarters, and make tons of money without owing any income taxes. They may also move their funds to any other country or back home for example without incurring any taxes. You will see many names of companies you recognize on buildings currently being built or recently built in Dubai.

Probably the coolest thing I saw was the indoor ski run with a full-size chairlift! They make snow every night and also have additional slopes for kids and even small children on inner tubes type of ride. At the end of the ski run a hotel is built into the mall where you can rent a room, sit out on the balcony, and watch the skiers come straight at you down the slope. Pretty cool! This is located at a completely different mall in Dubai called the Mall of the Emirates.

We saw very few overweight people and especially the kids. However, we did witness the opening of the 100th KFC! I'm sure obesity is just around the corner for them also. We also saw Baskin-Robbins, Häagen-Dazs, and even Krispy Kreme along with all the restaurants you would normally recognize in the United States. They are definitely becoming westernized.

We saw the largest rug in the world in a gigantic mosque. We also saw the whitest marble in the world at the same mosque. We saw the cheapest gas probably in the world at seven cents per liter or roughly $.22 per gallon. It is very important for them to have the biggest, tallest, most luxurious, most expensive of everything-and they have the funds to do it.

Dubai is a monarchy (sort of like our country, tongue-in-cheek) but the people seem to be happy with what the Royal family is doing. The country is definitely going after tourism and business. They are using much of their oil money to create these two things which will exist long after the oil runs out. It was also fun to see some of their heritage museums which showed what life was like prior to the discovery of oil. All the camel jockeys are now driving fancy new cars as their method of transportation.

All in all, we had a great time and never realized we were just across the waters from Iran. We always felt safe and only saw several police cars in nearly 2 weeks in those countries. We've also been told there are representatives of over 125 countries living in Dubai and they seem to get along better than the representatives at our United Nations. Everyone seemed happy and the country seemed really clean. We did travel quite a bit and never saw anything that would represent a slum or ghetto like we have in our country. I guess that just goes to show what a country can do when it has natural resources and actually uses them. What a concept! This was certainly a fascinating location and I would recommend it to people that like to travel. On our cruise ship, there were probably only 10% Americans. Hundreds of Chinese (I think it was their New Year) and tons of Europeans since it is relatively close,Of the 107 countries I've now visited, this was undoubtedly the richest and probably the most fascinating to me. Previously it had been Singapore. The only disadvantage was a 43 hour travel day returning home from alarm to bed including a 16 hour flight! Getting the body clock was turned around 11 hours was also a challenge.

I hope you enjoyed my travel log and have a good day. Rich

2Reply
38 views

Most Popular Reply

J ScottPro Member
Moderator
Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
13y
Originally posted by Rich Weese:

There is no socialism. You are expected to work and over 80% of the occupants of Dubai come from other countries with the largest India, with 27%. You obtain some sort of a work visa and must report regularly. If you lose your job, or quit, you have 30 days to find a new one or leave the country.

Not saying it's not a great country (I've heard lots of good things) or that there aren't good aspects of the economy and political system, but it's well known that a major part of the reason the economy is so good there, and the reason there is so much new construction is that a decent percentage of the workforce are practically enslaved laborers brought into the country as indentured servants (given a little bit of money and then being forced to spend decades working for pennies to pay off their debts).

There are several disturbing documentaries about Dubai worker exploitation and some very prominent human rights groups focused on Dubai these days.

Here's a summary:

http://en.wikipedia.org/wiki/Human_rights_in_Dubai

See this reply in the discussion

13 Replies

Jump to latestLatest
  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    13y

    mods- I think this is the correct forum-if not, please move it. Rich

  • Investor · Little Rock, AR · Member since 2010 · 628 posts · 251 votes
    13y

    Thanks for the report Rich. It has been boring without your imput on BP.
    Don

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    13y

    Thanks Don-you're TOO nice for this venue! Rich

  • Investor · Statewide, MO · Member since 2011 · 825 posts · 430 votes
    13y

    Rich, this was a really cool summary of your trip. It's fascinating to hear the details of what's going on there.
    It's sad that our elected leaders are watching our country continue to lose its grip as the world's superpower.
    I totally hear you on the stupidity of not tapping out our own resources and using them. Seriously, it's stupid. The massive, continuous transfer of wealth to the other side of the globe to create their jobs and buy stuff we already have has really cost our country.

  • Real Estate Investor · Tempe, AZ · Member since 2011 · 102 posts · 27 votes
    13y

    Having been to Dubai many times I can agree with just about everything you said. The first thing that struck me was the amount of luxuary cars. Second would be the amount of cranes, but I'm sure there are less now since they were bailed out by Abu Dhabi. As far as being the safest place I wouldn't agree completely. Well at least not for pedestrians, because on several occasions I have witnessed pedestrians hit by cars.

    When I first drove by the Burj Khalifa (tallest tower) I was amazed. I couldn't see the top without sticking my head out of the cab. Going to the highest viewing point was rather boring, but if you time it right and go at night during the fountain show it offers a bit more. The Dubai mall is flat out amazing, and talk about money oozing out of everywhere. I'm not big on shopping, but I couldn't resist when I got in there. The fountain show from ground level was really something you must see (especially at night).

    Oh and they do have normal ATM's, but the ones that issue gold are awesome.

    You can get to know so much about the world just by visiting Dubai. Why? Because like Rich said a majority of the population is foreign. Just spark up a conversation and you will be amazed at what you will learn about some tiny province in Pakistan. And if you do want to find the slums then you need to travel around the areas the poorer foreigners live.

    Best nightlife I seen there was at the Buddha Bar. They put on some great shows, especially the fire show. It's a very nice place, and it's not uncommon to run into famous people there.

    It was definitely very clean, and an extremely rich country. It is a business hub, and will likely grow. But it has also experienced financial problems recently, and was really saved by Abu Dhabi.

    Rich, was that the most amazing airport you have been in? I've been in some dumps, mid level and nice, but DXB was by far the nicest. However I will add that Sky Harbor here in Phoenix is probably the most efficient airport I have been in. Last place easily belongs to Nepal.

  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
    13y
    Originally posted by Rich Weese:

    There is no socialism. You are expected to work and over 80% of the occupants of Dubai come from other countries with the largest India, with 27%. You obtain some sort of a work visa and must report regularly. If you lose your job, or quit, you have 30 days to find a new one or leave the country.

    Not saying it's not a great country (I've heard lots of good things) or that there aren't good aspects of the economy and political system, but it's well known that a major part of the reason the economy is so good there, and the reason there is so much new construction is that a decent percentage of the workforce are practically enslaved laborers brought into the country as indentured servants (given a little bit of money and then being forced to spend decades working for pennies to pay off their debts).

    There are several disturbing documentaries about Dubai worker exploitation and some very prominent human rights groups focused on Dubai these days.

    Here's a summary:

    http://en.wikipedia.org/wiki/Human_rights_in_Dubai

  • Real Estate Investor · Tempe, AZ · Member since 2011 · 102 posts · 27 votes
    13y

    Several US DoD contractors employ this same tactic minus the decades long part. Hire cheap foreign labor and save money. The foreign labor is more often than not paid well above their home country's average salary.

    So I disagree on your "practically enslaved labor" comment, but it is well known that wealthy Arab countries do keep servants. And I agree Dubai has a human rights problem, but experience has proven to me that the vast majority of foreign contract workers are paid handsomely compared to their average home salaries.

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    13y

    Levi- you're correct, the fountain show at evening was spectacular and of course "the tallest' built by the same Bellagio builders but much higher. I also agree the Airport was amazing, but we had to show the passport FIVE or SIX times. I much prefered the Metro system-so clean and timely. The cranes were obviously the National Bird! Thanks for your input.

    We also talked to quite a few employees of different companies and they seemed to enjoy being employed in UAE. I have multiple Hispanic workers in my employ and they possibly are enslaved-but they continue working for me because they know they'll get paid for every job done. Obviously I didn't visit any sweat shops, if they exist. Remeber, we have "rights and union people" claiming WalMart employees are enslaved or cheated. No shortage of employees for them either. We aren't going to solve the problems of the world in this thread, it is just a travel log! Thanks for keeping it that way. Rich

    p.s. Most of the const has been only last 5-10 years .

  • Real Estate Lender · Pt Hueneme, CA · Member since 2012 · 110 posts · 47 votes
    13y

    Awesome! Thanks for sharing, I really have the itch to travel so I enjoy reading reports like this.

    Glad you had a good time.
    Rick

  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
    13y
    Originally posted by Levi Gale:

    So I disagree on your "practically enslaved labor" comment, but it is well known that wealthy Arab countries do keep servants.

    Your disagreement doesn't change reality.

    When I say indentured servants, I'm not talking about hired help. I'm talking about people who are lured to the country with a small upfront payment and the promise of continued work at reasonable rates and hours. Instead, people are *FORCED* to work long hours for ridiculous low pay and ARE NOT ALLOWED to quit or leave (by threat of force or retaliation).

    Most of these laborers are in construction, which is why/how they are putting up sky scrapers in months for ridiculously low prices. Workers are forced to work 12-14 hours/day for pennies/hour. And their families are threatened if they try to leave.

  • Investor · Southeast, MI · Member since 2012 · 2k+ posts · 1k+ votes
    13y

    I was flipping through the channels one day last week and stopped on HGTV. There was a show I've never seen before called "Living Abroad". The episode I saw was about Dubai. It was very interesting. They showed the ski lift that you mentioned. The American family that was living there said they had never skied before and learned to do so in the desert. They showed the luxury cars and mentioned that they need two cooling systems because of the heat.

    Rents were a fortune. The swimming pools had to be cooled down in the summer.

    One interesting thing was that the wife's visa labeled her as "housewife" and she was also the "property" of her husband.

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    13y

    Thanks Rob K for for the additional info. I'm not sure whether all Islamic countries would do visas the same way. I would guess yes. I saw many "discussions" where husband and wife were chatting and the woman was very demonstrative and in charge! It seemed she was wearing the pants, under that robe-just like here in the U.S,!! There was even a Victorias' Secret in the malls! Watching the couples and families in food court, movie theaters, and stores seemed no different than here. Rich

  • Real Estate Investor · Tempe, AZ · Member since 2011 · 102 posts · 27 votes
    13y
    Originally posted by Rich Weese:
    Watching the couples and families in food court, movie theaters, and stores seemed no different than here. Rich

    It really is a modern vibe all around Dubai. One time I was there Kim Kardashian was visiting the Sephora at Dubai Mall, and believe it or not it was damn near impossible to navigate the mall due to the crowds. Why is that strange? Well it's strange because a person that became famous from an "adult" video drew crowds like I've never seen before. And they did that in a Islamic country. They are as westernized as any other country I've been too. Minus public display of affection of course, that still doesn't fly over there.
Join the conversationCreate a free account to reply, vote on answers and follow this thread.