Saudi prince could jump-start the kingdom or not

Saudi prince could jump-start the kingdom or not

Saudi Arabia is a country attempting to change as it moves away from being so reliant on oil revenues. The country has traditionally been very conservative in its outlook but a new generation of leaders is looking to transform the country.

The tensions unsettling the Saudi royal family became clear in September, when Joseph Westphal, the U.S. ambassador to Riyadh, flew to Jiddah to meet Crown Prince Mohammed bin Nayef, nominally the heir to the throne. But when he arrived, he was told that the deputy crown prince, a brash 30-year-old named Mohammed bin Salman, wanted to see him urgently.

The ambassador was redirected. The United States and the crown prince swallowed the embarrassment.

Palace intrigue is a staple of monarchies, but it is impossible to overstate how out of character such a generational power play was for the desert kingdom. Robert Lacey, in his classic 1981 book, “The Kingdom,” described the tradition of deference that has held the Saudi royal family together through feast and famine: “Deference to elders is one of the Al-Saud’s inviolable ground rules, the best corset they know to discipline the outward thrust of so many assembled appetites.”

Not anymore: Starting in January 2015 with the accession of King Salman, Saudi Arabia has been shaken by the bold reform campaign of his son, known at home and abroad by his initials, MBS. By outmaneuvering and sometimes defying his elders, the young deputy crown prince has turned the politics of this conservative, sometimes sclerotic monarchy upside down.

MBS is the kind of prince that Machiavelli might conjure. He’s a big, fast-talking young man who dominates a room with the raw, instinctive energy of a natural leader. But his hardball tactics have offended some Saudis — especially his rebuffs of Mohammed bin Nayef, his elder at 56 and his nominal superior. In addition to detouring the U.S. ambassador, MBS is said to have engineered the firing of the crown prince’s closest aide in September.–or-drive-it-off-a-cliff/2016/06/28/ce669a3e-3c69-11e6-a66f-aa6c1883b6b1_story.html?postshare=2141467209965904&tid=ss_mail

Real Estate Development:  Chinese invest in Dubai

Real Estate Development: Chinese invest in Dubai

Real estate development has always been a good investment over the long term Dubai. The UAE as a whole provides a mature market, strong demand, excellent infrastructure, no restrictions on returning capital to its country of origin, and a tax free environment to make such investments. Dubai is also strategically located with access to half of the world’s population within 6 hours of flying. This has attracted a multitude of businesses to invest and setup in the emirate which has led to boom in commercial and residential real estate. Combined with a stable business environment, the city of Dubai is well placed to take advantage of the opportunities in the future with real estate development being a core driver.

China’s current status as a global financial giant has not been achieved overnight but earned through consistent efforts. The resultant rise in affluence has given wings to Chinese investors. This has encouraged them to flock to other countries in the hope of making savvy investments. As a way of preventing the over-saturation of the Chinese markets, the Chinese government has been rallying investors to look for investment opportunities abroad. The Chinese real estate market underwent drastic changes in the past few years that left investors high and dry. The changes have mostly been influenced by low rental yields, stock market downturn and low interest rate, high prices and low capital gains. As a result, the Chinese have found the UAE’s, especially Dubai’s, real estate sector a lucrative investment option.

The Chinese were ranked the seventh biggest property investors in Dubai in 2015, investing around $460 million in the first nine months of the year. said Chinese investor interest in the Dubai real estate market rose by 1,200 percent by August 2015, as compared to the previous year. But let’s consider a few points that help clarify why UAE makes so much sense to China’s wealthy.