Dubai marine downturn

[watchkeeper]

The world wide global downturn in recreational marine is continuing to impact on Dubai. New comer to the industry Henderson International is having to close their Yachts division due to cancelled contracts.
Apparently the UAE oil millionaires can't borrow so they stopped spending.

[Jenny Giles]

If sea levels rise a lot of other projects in that area will have serious troubles too.

[grahampace]

Bad news that Henderson International Yacht division closed down. They had a professional project manager. It was a pleasure for me to work with him.

[watchkeeper]

Originally Posted by Jenny Giles

If sea levels rise a lot of other projects in that area will have serious troubles too.

Hi Jenny

In keeping with your comment although I'm straying from boats, already a number of new residential buildings on the Dubai man made islands have already been condemed as to unstable without the threat of sea levels.
I suspect a combination of lack of compaction and the big rush to build/sell are the key factors. Dubai is famous for locals developing rubbish projects then disappearing off shore with the funds.