Professor Elam

In case you are wondering where you gasoline dollars are going,trip over to Dubai Marina. Or better yet just google. abhu dabhai developers.  Or consider the audacious Palm Island.  Here is a reality check. American ‘investment houses’ like CITI or Merrill Lynch have gone overseas to shore up their capital base after losing Big Time in the sub prime market. Now there is a new kid on the block. This group of Arab Investors has not frittered away the oil money. They are starting what will no doubt be the new Investment Capital of that part of the world. Just a few years back strategist Barton Bitggs said no one else could do what Merrill, or Morgan Stanley or Goldman could do in terms of raising money. Since then a majority of the IPOs have begun taking place overseas There may be a real estate slump here but not in Dubai.