Dubai has recently been at the centre of some excellent reporting from
Andrew Higgins, the Pulitzer prize-winning journalist currently working for the
Washington Post (formerly of the
WSJ). The stories revolve around the Dubai property market and how millions of dollars from Afghanistan and Azerbaijan ended up in places like the
Palm Jumeirah. Not everything appears above board - for instance, $44 million worth of villas are in the name of the president of Azerbaijan's son, according to one story.
All three should be required reading for anyone trying to get a grasp on the economic dynamics of the region: money is churned hand-over-fist in places like Kabul and it ends up in luxury property in the Emirates.
Photo caption: Feb 7. Lion statues outside the entrance of one of the villa on frond K at Palm Jumeirah in Dubai. Pawan Singh / The National
Thanks, but you didn't explain who from afghanistan is investing such big amount in Palm jumeirah while their own country is in trouble.?