March 21, 2007

HISTORY ENDS THE SAME EVERYWHERE:

As Arab Market Matures, Dubai Cashes In: High growth and investment opportunities are attracting financial giants like Deutsche Bank and Morgan Stanley to the emirate's glitzy towers (Stanley Reed, 3/21/07, Business Week)

A couple of years ago, the Dubai International Financial Center looked like a white elephant. Now banks have to beg for space in the imposing, gray stone and glass complex built by the Dubai government in an effort to attract financial institutions to the emirate and create a kind of Wall Street of Arabia.

Set off by reflecting pools and flower beds, the Dubai money center lies at the heart of what is becoming perhaps the world's glitziest city. "I used to think this was over the top, but now it is full," says Bruno Daher, head of private banking for the Middle East at Credit Suisse (CS), an early tenant in the complex.

Wall Street's latest gold rush is to the Middle East, and Dubai is the boomtown.

Posted by Orrin Judd at March 21, 2007 12:00 AM
Comments

Way to go. These pictures are fantastic.

Posted by: erp at March 21, 2007 9:54 AM
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