Tuesday, May 26, 2009
Last sunset in Dubai
We have just returned our rental Accord, the equipment from Du and also had a quick dinner. While riding in a cab back to our apartment I took this picture of our last sunset in Dubai. We have booked a cab to the airport for 8pm; more than enough time to shower before we leave.
Dubai is facing a very serious debt crisis which I am convinced from talking to some senior executives here is understated. US$80 billions owing over five years of which about US$ 13 to 17 millions are due this year, the numbers are far too small. One developer I know already owes at least a few billions and there are so many of them!
Dubai cannot be sunk so easily. No country can and furthermore it is located strategically in the most important oil producing area in the world. Dubai will rise again, I explained to people countless times but many of the expats will not be here to ride the next wave.
We are among the few fortunate ones with a choice to remain or leave with benefits. We have chosen to leave for the sake of the children's education.
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