How to Start and Operate a Real Estate Company in Dubai

(As overheard at a dinner party) 

  1. Get land in a prominent area of Dubai “gifted” to you by the Sheikh
  2. Go the banks and obtain finance using the land as security
  3. Use the funds to buy a hotel in New York / London / Cape Town
  4. Cut out plots on the land
  5. Market the plots to developers. Increase the price of the land by 10% every week.
  6. The plots are snapped up easily 
  7. Use the money from the plots to start your Real Estate Company and spend like there’s no tomorrow
  8. It’s not necessary to manage your cash because money flows freely in Dubai
  9. Market your brand; market Dubai – heck, market anything – as long as you’re spending the money.
  10. Hire completely useless expats (preferably British and American) who will help you to burn cash.
  11. Oops – here comes the Global Financial Crisis!
  12. Developers stop paying
  13. The cash well is suddenly not bottomless 
  14. Lay-off the useless expats with an hour’s notice
  15. Hope and pray for a bail-out from the Sheikh
  16.  

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