Dubai is done, get out while you can
Dubai is done, get out while you can.
In an unprecedented shock to Dubai’s real estate market, prices have plummeted by 15% in just the past five days leaving investors stunned, terrified, and frantically searching for the exit signs they ignored when the champagne was still flowing. The portfolio tracker doesn’t lie: from 16,000+ highs to 14,020 in freefall, year-to-date gains evaporating in real time. Emaar and Aldar both shed roughly 5% in a single session as the missiles were still being counted. The market always more honest than the men selling it, has rendered its judgment.
Dubai is done. This was a city constructed on the theology of permanent exemption from geograpical reality, exempt from consequence, exempt from the bill that history eventually sends to everyone who builds their fortune in Washington’s shadow while pretending otherwise. That theology is now rubble. The Gulf is a war zone, the smart money is already gone, and what remains are the brochures and the bag-holders. Time to leave the mirage that was Dubai?
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