Trump sounds horn for Dubai property

Is it just me or have there been a few strange goings on in the property market of late? It started with the unsolicited appearance on my desk of an independent guide to investing in property in Dubai. The nice lady from the PR company said that only a few copies were being sent out to selected publications, which made me feel very grateful.

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By  Sean Cronin Published  October 15, 2005

Trump sounds horn for Dubai property|~||~||~|Is it just me or have there been a few strange goings on in the property market of late?

It started with the unsolicited appearance on my desk of an independent guide to investing in property in Dubai.

The nice lady from the PR company said that only a few copies were being sent out to selected publications, which made me feel very grateful.

The ‘independent’ guide was produced by IFA.

— You mean that Kuwait-based hospitality group with billions of dollars invested in Nakheel’s World, Palm and Waterfront projects?
— Er, yes, that’s the one.

So not ‘independent’ in the classical sense of the word then?

My first thought was whether the Foreword had been written by Troy McLure from the Simpsons. (You may remember me from such bestsellers as ‘How to make a fortune from pyramid selling’; ‘So you wanna know about water filters?’ and ‘The essential guide to buying a timeshare in Kabul.’

To be fair, the publication wasn’t bad. It had a lot of useful information that you could use if you were in the market for an apartment; but the fact that IFA felt the need to produce it at all tells its own story.

There was also the story about developer DAMAC offering another ‘independent’ view on the market, with a prediction that property prices would rise by between 10% and 15% next year.

— You mean DAMAC the developer with 20 towers under construction in Dubai Marina that was giving away free Porsches with new apartments earlier this year?
— Er, yes, that’s the one.

So I guess not quintessentially ‘independent’ either.

Other endorsements of the vitality of the market have come by the way of visiting celebrities such as Bollywood legend Shah Rukh Khan and the ultimate ‘trump card’, real estate virility personified, Mr Donald Trump himself.

It was all going great guns until Nicolas Anelka arrived in town to snap up a penthouse and four apartments at Dubai Marina.

— Nicolas Anelka, the internationally-renowned real estate analyst and market-mover?
— Er no, Nicolas Anelka, the playstation-playing Fenerbahçe striker.

Sean Cronin
Editor||**||

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