"...Dubai's boom has long been fueled by the notion that the region's oil economy would one day betray the tiny emirate. With shrinking hydrocarbon revenues now a single-digit percentage of its GDP, diversification into tourism, finance and other services was a no-brainer. Even if oil prices slumped—as they have in recent weeks, to around $75-a-barrel—the city's rapidly multiplying hotels and resorts could still be counted on to attract sun-seekers from Europe and Asia. The result: a supercharged real-estate market that includes some $300 billion in recent projects..."
No comments:
Post a Comment