Nice dig. But it's true.
The fundamentals upon which Dubai is built are totally flawed. It relies on the failed societies and nations that surround it to offer an escape to 'paradice' for the corrupt elites of those failing nations to hide their ill-gotten wealth and a 'modern' lifestyle based on greed and consumerism.
It's a shallow hollow dream. Literally castles built on "sinking" sand...
Some times we are told Dubai is built on oil, but from today we came to know of this new philosophy that it's built by the corrupt nations that surround it!
Any person, who is exposed to UAE can confirm that corruption is a serious crime in UAE, including rest of the GCC states, but if you are aware of any sort, inform to authorities or share with us.
Unless you disagree and have reasons for it. Just nodding to a moderator who revere Iran, is not enough.
IMO, what UAE or GCC offer is stability and justice, which is missing in Pakistan and Afghanistan.. if that's what you meant by surrounding countries, but than that's because both countries are ruled by people who serve their Supreme Leader in Iran, rather their own countries. Therefore, these two countries will remain divided between their national interests and Iranian interests, hence always remain destabilized.
I'm not sharing any data yet but statistics says there are more retired people from west /dual nationals and even Indians, who have bought properties in UAE but as far Indians are concerned they buy property every where.
Only thing what connects Pakistanis is that UAE have liberal visa policy, where Pakistanis fit as well, at least for now, but that may change soon.
All said and done, but why is it our concern if GCC is going bankrupt, beside having some psychological issue.
On that count, I can already disappoint you and commies that economically UAE is in sound state, but can't confirm the out come due to Iranian terrorism, assisted by puppies from non Iranian states, on later count thus far COVID has been a blessing in disguise.
In 2003, the construction of the multi-billion dollar investment project “The World” was announced. The man-made archipelago shaped like a map of the earth was planned to feature luxurious houses and tourist-resorts located all within just a short boat ride from Dubai. But today, more than 10 years after the completion of these islands, there is hardly anything built on them.
Property business is stagnant all over the world. Only UAE property prices are stable, if not going higher.
I personally would never buy a property in UAE at current price level.
