Is Abu Dhabi City the Next Dubai?
Hi there, Kish and Sunil here both bringing Abu Dhabi City to you after receiving numerous requests overtime to write about the this largest Emirate of UAE.
If you have been following us for a while, you must already know that whenever we go to Dubai, we do make a few trips to nearby Emirates like Abu Dhabi and Sharjah. We go to visit friends and family, and most importantly for Sunil to observe the rapidly growing economical environment.
We think so. Except Abu Dhabi is much smarter, more patient and richer!
They have carefully studied the mistakes Dubai made on its way up.
The mistakes that became a catalyst as the global economic slowdown came upon the world in 2008.
Abu Dhabi might make new mistakes of its own, but it certainly wont repeat Dubais.
In addition, Abu Dhabi has a much stronger financial foundation than Dubai. Dubai relied heavily on trade at its ports, tourism (hotel industry) and real estate appreciation because of the expat revolution when jobs were on the rise. Less than 7% of Dubais annual GDP came from oil. Abu Dhabi however was sitting on over 50 years of oil reserves as of 2008. They are just naturally more gifted.
Abu Dhabi is also more fiscally conservative. For example, we dont think that it will gamble away futuristic oil revenue and securitize it to borrow money to rapidly develop real estate projects like Dubai.
See Dubais main problem, aside from the core fundamentals, is that it over promised (to the world) and under delivered. We wouldnt say that it failed to see what was coming, rather it did not care to even think about it. If you have seen the 60 Minute interview with Sheikh Mohammed you know what we are talking about (a must watch video).
We have decided to dedicate some of our time developing this small sub section of our website. We plan on covering some of the same topics we covered for Dubai. We will keep adding to it as we continue to visit and learn more about Abu Dhabi City. We hope to be your guide as the city progresses to become a solid and desirable Emirate-Nation.
As AD develops, more jobs will be created and more expats will move causing the real estate infrastructure to develop as well as several industries to support a growing Emirate. Think about the development of Dubai. This will be no different on the surface, however much stronger in its foundation, fundamentals and future plans. At least that is what we believe, and that is what AD has promised us all :-)
Navigate your way through Abu Dhabi City with the following useful links:
The Abu Dhabi Job Guide is the first and only guide of its kind, full of first hand, practical and step by step information that has helped many job seekers prepare, apply and secure a job in Abu Dhabi city.
Build a brighter and more secure future for you and your family with this guide.
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