Bubble Bubble Toil and Trouble

Bubble Bubble Toil and Trouble

Dubai is all about growth. The phenomenal amounts of money poured into the economy have created what appears to be the largest real estate bubble on earth. Until very recently rents were increasing by 8 to 10% per year as were the prices for the unfathomable number of new residences, commercial office space, condominiums, etc. I am going to make a prediction that within 3 years real estate in Dubai will be the best value on the planet. There are simply not enough people to fill the amount of space being created here. I picked up the daily edition of Gulf News the local English language newspaper on Wednesday and it is about an inch and a half thick. Half of the paper was a section on real estate. I have also noticed that the kiosks in the malls that the various developers have set up are noticeably less busy in the last two weeks, by noticeably, I mean nobody at any of them when I pass.

And now the toil part. All of building and the support services behind it come at a price, and the price is our humanity and the chase for the money. This is a bit complicated and there are some twists so bear with me. In order to field the huge workforce required for all of this building there tens of thousands of expatriate laborers sponsored to come into Dubai on work visas. They are paid a minimum wage, rumored to be around 600 dirham a month or just over $150 US. They are also provided with sleeping accommodations in a labor camp and three meals a day. They wait in huge groups for the busses to coma at the end of the day to take them back to camp, sometimes a very long ride. So on the surface it seems they are truly being exploited, they work dawn to dusk for very meager wages that are usually sent back home to India, Pakistan, Bangladesh, Indonesia, East Asia, Africa or where ever. The reality is they would be making far less in the home country and probably not have enough to eat. So is it exploitation?

The irony here is that expatriate pay for Americans and other high skilled workers. It’s almost the same deal , they pay us more than we could make at home, provide our accommodations and transportation (but not our food). We are quite happy because we come from a good life to begin with, put up with an exotic location and culture while sacrificing the things we can’t get here that we had back home. Same deal different perspective.

I moved into new digs on the 30th and it is so much better. Hotel Apartment, serviced with a nice rooftop pool and exercise facility. Close to the old part of Dubai so you can walk to Souks (markets) and the Creek. Pictures to come.

Dead Man Jaywalking

Walking the streets of Dubai is not for the hesitant or indecisive. As long as you understand that you have no rights unless you are hit and injured or killed you will be fine. As I mentioned in my earlier post, the large amount of construction makes for very few safe pedestrian walking areas, and let’s face it, the drivers here are more worried about being outmaneuvered by their racing buddies than anyone foolish enough to be caught walking or running for their lives in the street. Day dreamers and those fixated on their iPod are particularly vulnerable and in real peril.

There is a bright side to pedestrian rights here and it has the traditional moniker of Blood Money. If you cause someone’s death and it is in any way due to your fault or negligence you must pay the family of the deceased Dh200,000 That is dirham at 3.6725 to a US $ or $54,795 for a man and Dh100,000 for a woman. Yes it is true that women get very little public respect here, but I am sure it is true here as in any other place in the world, that at home and with husband and children, Women Rule.

There is one other interesting phenomenon observed here, as people walk about in the blazing sun and temperatures that can reach 115⁰, He who gets to the shade first keeps it. You will see people lined up in the shadow of lamp post, building or whatever offers some iota of relief from the sun. You find yourself angling for every bit of shade offered and the shortest pathway between two points. I have yet to find that idyllic strolling spot yet, but I am sure that I will, and look forward to telling you all about it.

Tale of a Mall Rat

After the first two weeks in Dubai, I have a confession. I have become a Mall Rat. Everything American is in the Mall, including the weather. My apartment is a short walk, 10 minutes, from the Mall of the Emirates (pictured here with the large indoor Ski Slope Attraction just visible at the left). This is one of the larger Malls, which are all similar across Dubai, with parking undercover and three levels of shopping. This is the one that has the ski slope, built in the middle of a desert, and make no mistake, this is a desert. You can ski, buy groceries and electronics, eat, and all the other regular stuff you do at a mall. I go at least once a day, but usually twice, and that is when I am at the apartment.

My office is right across the street from the City Center Mall (below) and that I where I catch my Taxi to go home and eat lunch, and by the way guess where I catch my taxi in the morning. You guessed it, Mall of the Emirates. You can get all the uncommon, by local standards, American food like McDonalds, Chilies, TGI Fridays etc. as well as the local favorites of Middle Eastern, Indian, Thai, or just about anything else.

My first impression of Dubai is Hot, Flat, Crowded, and Dusty. I am not sure whether the dust is coming from the desert or all of the construction that is going on. Whatever it is coming from, it doesn't get washed away during an occaisional shower, since there are very few and far between rains. Near my apartment it is not an exaggeration to say that every other building is under construction. I have never seen anything like it. Supposedly 20% of all of the tower cranes in the world are working in the United Arab Emirates. The buildings already built are stunning and diverse, nothing is too adventurous or out of the realm of possibility.

The sounds on the street are dominated by honking horns, screeching brakes, accelerating autos, banging hammers, plywood and steel dropping, and it never seems quiet. One interesting observation is the lack of animals; I have seen one dog on a leash since I have been here and a few birds. How they expect to fill all these buildings with people when animals do not live here (I am told because of the summer heat) is beyond me.

Driving appears to be similar to chariot racing here. I have not tried it yet and am not sure I want to. I actually saw an article or opinion from a reader in the newspaper, that suggested the government should issue special tags to new drivers, so other drivers would be understanding of the white knuckle fear and panic these drivers are experiencing that prevent them from getting out of the way.

This is the valet parking area at Mall of the Emirates. Ferrarri, High End Audi, Convertible Rolls.