Got Funds? Buy Africa! Heck, buy the world!
April 1st, 2007 by Grant in: Economics, Investing, Real EstateOK, so the title of this post is a bit misleading. But it is true, Africa is for sale.
OK, so that’s a bit misleading as well.
However, if you’d like a little piece of “The World” development off of the coast of Dubai, scrounge the change out of the couch and pick your island.
Ireland was just purchased for AED 142 million, which translates into about $38 million USD.
Personally, I find this “real estate development” very intriguing, and it proves how strong the world economy really is. However, knowing what little I fully understand about our own US economy, I wonder how international economics will affect developments such as this.
For instance, if the price of oil crashes, what will this do to the economy in Dubai, and among other places, Iran?
A little economic topic to ponder this find Sunday night…
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April 2nd, 2007 at 9:51 pm
The Sheiks in the desert aren’t stupid, they know their black gold is diminishing. That’s why they’re turning their oasis into a booming middle eastern hub. They’re attracting investment/development through some very friendly tax policies, heck, Halliburton moved there headquarterst to Dubai. I’ve not been, but I hear it’s a real fascinating place to visit.