Dubai marine downturn

Discussion in 'Services & Employment' started by watchkeeper, Nov 2, 2009.

  1. watchkeeper

    watchkeeper Previous Member

    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.
     
  2. Jenny Giles
    Joined: Jul 2009
    Posts: 59
    Likes: 10, Points: 0, Legacy Rep: 177
    Location: Sydney

    Jenny Giles Perpetual Student

    If sea levels rise a lot of other projects in that area will have serious troubles too.
     
  3. grahampace
    Joined: Dec 2005
    Posts: 19
    Likes: 0, Points: 1, Legacy Rep: 10
    Location: malta

    grahampace Junior Member

    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.
     

  4. watchkeeper

    watchkeeper Previous Member

    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.
     
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