Yh like he cares about it😂his pocket is full look at you complaining about the way he talks and argument. This why successful people dont waste time to talk but take action.
The worst interview ever! Dubai has been declining for years now including real estate and tourism. Next crash will be much worse then 2008. Bye bye Dubai
FACTSABULOUS DEXTER...Simple I do the same thing my parents and grandparents do every time there's a recession. Give the properties small upgrades to make them better than their comps, lease them out short term, nowdays we have AirB&B as well so I can price them the same as the low hotel room rates for but an entire private apartment, and when the economy recovers and they appreciate in value we sell them off for a substantial profit.
This guy is lying just to save his face name and business. He contridicting himself the whole conversation. He said dubai is doing good but he not making revenue on his hotels. Plus he said do not expand hotels yet he said tourism is high. If tourism is high why isn't he making money in the hotel business ??? Dubai is done. It's new name is Lagos due to all the Africans there now.
O boy! Dubai is more of Pakistan, Indian and Philippine population more than Africans, what your saying is bullshit! Argue with facts not with insults.
@@Musaiftekhar lol dubai is in a recession. Dubai is in a white collar recession. So much for him being an expert on vacant hotels and operating at a loss.
Whole world is going through uncertainity Kudos to Dubai and its smart rulers who created wonderful place from nothing. Its a paradise for Westerners who earn almost 5 times more salary than their Native countries with less Tax %
Everyone knows even on the radios they are saying that we are cheaper then Europe. This statement worth for a good laugh. Compare yourself TRULY with Europe first. The most important thing is Europe is providing nationality are you? Expatriates are the one who's running UAE over all such as taxi drivers, grocery shop NOT BY LOCALS.... What relief you have provided to low salary expatriates?
To sleep 😴 in City of London why Someone pay 1000-00 pounds is insane and crazy 😜 I can find you room in London 3 star 🌟 hotel for 80 to 100 💯 pounds a night go to internet
@@anwarnayani5849 He is not saying that he is saying that the quality of a room in dubai that would cost 100 quid is similar to a room in london that would run 750 quid/1000 dollar, and he's not wrong london rooms are shit glorified travel lodges unless you have cash
Ridicilous high prices in their hotels. There is no rooms for 100$ in Habtoor hotels. Do not compare with London. Compare it with Turkey. I live in Saudi and prefer to fly 4 hrs and stay in Istambul rather than fly 40 mins to Dubai. Reduce the prices. He talks about schools. They cost 15000$ per year.
I lived and worked in Dubai for 21yrs and met Khalaf al habtoor personally. Must say he is a man with a vision and never afraid to pursue it. Im now built my life in another continent but thanks to Dubai i got a good start though with a lot of struggles. I visit Dubai as and when i can but find its loosing its soul though times have changed and moved on. I see a lot of artificial and fake gloating to impress the visitors.
I lived in Dubai in 7 years and I agree it’s declining massively. You can buy a property in the best and most luxurious place in Dubai for something like 400k or 500k which is absolutely nothing compared to other major luxury cities like London, NYC, and Paris. In addition to that, the saturation of the retail and property projects has demolished the market and created a steady decrease in value of those fields. His point about hotel prices in London compared to Dubai is staggering and true.
@@Omen1248 lol bro when property are so lowly priced there are faults associated with it. The cheap marina apartments usually have burning histories. Also, comparing other city property prices is like apples and oranges. For example, Texas a rich state has cheaper houses than california. Does that mean texan economy is declining? The benchmark is different for different countries. Also you won't find an independent villa less than 3 million dirhams in dubai. Whereas in the states, youll find millions and millions of individual homes for less than 3 million aed
@@alialkhalsan1010 No one wants to buy property in a city of Losers. All of Dubai is filled with the stench of a rotting corpse and that scares investors away.
Dubai needs hotel/real estate in combination with farmland and experiences. People like to learn how to sustain themselves by growing food and learn about animals. :)
UAE needs to work on a permanent residency program, leading to citizenship, that is what people want, and what will prevent the massive exodus of current residents to other countries. Free zones are great but people need 100% ownership in the mainland as well. You have to force your people to compete. This is the reason US, UK, Canada, Australia, etc are world leaders because they give these rights. I understand the locals are a minority but imagine in 100 years, the whole world population will be beige anyway... Dubai needs to evolve it has a lot going for it. Put a price on it. Example, USD 5MM for UAE PR. 10YR Government bond. Returned back without interest. In return, the investor gets PR and eventually full citizenship after 10 years of residence. Do this and I guarantee you will see a change....the retirement visa is a joke...
They are never going to give permanent residency because this will deplete their resources at a much faster rate. An average expat that earns like $1500 on a job, if the same position is being offered to a local then he will get $2500+a government stipend of $2000 regardless of his experience in that field. They have named it emaritization. Right now talented and experienced expats are moving out of UAE leaving a huge gap to be filled by under populated locals with no experience and with higher salary demand.
@@reinerdxb What you on about? There are several citizenship-by-investment programs in the world. Arab or Non-Arab doesn't make a difference. Open to almost all nationalities. What world do you live in?
I was in Dubai a few weeks back, amazing place. They don't fuck around over there they actually get shit done, and they're nice people unlike when you come here to New Zealand or go to Aussie most people don't give a fuck.
As though things are very rosy in America or the UK. There are problems everywhere in the world, why then talk about Dubai?? We are Pakistanis and are grateful to Dubai for accepting us, allowing us to work, stay and make money. I am sure with the grace of Allah and the wise Leadership of Shaikh Muhammed Dubai will shine again like never before. Dubai has the good wishes of all the Indians, Pakistanis and other nationalities who work and stay here.
He would say there’s “No Global Warming” b/c he has investments in Oil & the Auto Industry and lives on a huge Sand Dune😡. And obviously if they build more Hotels he looses money.
That's basically ppl from here. They answer questions by giving examples out of context about things that are doing well always like schools and cars. Is good everywhere. Panel talks about retail and hotels and habtoor answers about emirates airlines lol
Just because he's a billionaire, he thinks Dubai is having his best economic boom right now. Investing in Dubai is very risky right now and its going downhill for the past 2 years. I own couple of properties in Discovery Gardens, Dubai and my rents from 70k Aed which I used to get from my tenants in 2016 went down to 40k Aed (40% drop on my rental income) and my studios went down from 45AED rental income to 28K. Secondly, my apartments value from 800k AED went down to nearly 600k AED (25% drop on my property value) US$60K loss per apartment. My dad's palm Jumeriah 3bedroom went from 5Million down to 3.2 Million AED. He lost nearly 1.8 Million Aed or US$500,000 on his property value. He bought is for 4.8Million back in 2008 and next month is 2019 so in 11 years no capital gain and instead he lost half a million dollars or nearly 40% loss on property value. What fantasy world are you living in by claiming that Dubai is # 1 in terms of economic boom. Wake up its year 2019 next month not 2006. You can verify all the rental and property numbers at Dubizzle.com and confirm what I am saying from any real estate agent who's working there since 2005.
Sean Chris. : You are absolutely right. Prices are going down since 2014 actually, rent price and Salas price also... there was a guy called Rick who was arguing with you, but he didn’t have a clue about the prices even though he claims he is a local... I own properties in downtown, prices has dropped here also... so not only in the less affluent areas. In Burj Khalifa you can buy an apartment 40% cheaper than in 2014... investors lost load of money, it’s a well known fact.
Maybe he doesn’t speak queen english but he talks straight about business. Doesn’t sugar coat anything... i like his style . And to all the Haters : Dubai is not lost guys. I’ve been investing here for many years and i’m happy with the results and I’m from Europe. There are cycles as he says like in every market but overall Dubai does have a big potential with one of the biggest airports in the world and in my view Best airline in the world.
BornInSoho 97 none sense comments Dubai is in big whole Retailers in Whole is dead Commercials real estate in Whole is declining Resident real estate 🏡 in Whole declining Construction 🚧 is in Whole declining Airport is close People in business are leaving Labours are starving Leaving More down More down Good luck 🍀
Anwar Nayani i have many apartments in downtown Dubai... all of them rented... net return% 5% to 6%. If you don’t believe me send me your email and will send official tenancy contracts. The airports are closed everywhere in the world... retail is not dead, LV and Gucci in Dubai mall are one of the best performers in the whole world among LV and Gucci, i know the managers there.... construction is not down, although the government has told developers to launch less units because there is an over supply on the market. You don’t have facts in your hands... yes there is a slight decline, but it’s far from collapsing
If any culture wants to do business globally, then it has to make some permanent concessions, I don’t care how old the culture may be. As the Chinese are learning (how to treat foreigners especially) the hard way, the Arabs must learn how to treat people, both in business and workplace. The days of slavery are over, we are not living in the dark ages and as Ethiopia has successfully shown, Muslims and Christians can live in harmony as neighbors. Arabs in both business and especially to workers (foreigners from Africa mostly), must learn how to treat people. Perception is indifferent to reality. That being said, I love my Arab brothers and sisters. Long live Dubai!
Jay A M You're right. But the problem when they do emiratisation law everybody calls them racist for putting their people first! Or what you think is the problem ?
Im a Dubai local and I can tell you that business sucks regardless of what he says, if you have any doubts look at real estate prices and the stock markets indexes.
he is not touching defense, he is not touching the oil price and gas from Doha..........I like him as he purchased the Imperial Hotel Vienna and will never make money with it except he sells in 10 years............so it real state but has nothing to do with operating. In operating likes the had work. He is a great man and it is very sad i never met the grand person during my many years in the UAE and Middle East. He is smart and will change every day as he is a very warm businessman which can connect with any one..............................H.Simon
The demand for goods and services in Dubai only existed because of oil wealth from neighboring countries. Now that the oil wealth is disappearing, demand will disappear forever.
He is clueless, he is talking about local schools and hospitals which are pretty much local economy dependant on people moving in to live in Dubai which is not the case. I know a lot of people shut down in Dubai and moved to Australia, Canada, Pakistan, Turkey, and many other business friendly countries that presents variaty of investments opportunities and have a good job market compared to Dubai. He is talking about growing numbers of students in his school but didn't say how much they dropped the fees, what was the numbers his school grow from, what is the drop in number of students in other schools, and most importantly what statistics tell about the overall sectors. There are reports talks about 35000 students from Dubai didn't re-enrolled in any school in Dubai. Can he share numbers of transfer certificates issued by the regulator in Dubai? How Many are within UAE and how many outside UAE. Medical Services that he talking about will require attracting expertise that will come at high price tag and hence makes the services price really high for end customers. Then the question why would someone fly more than 3 hours for medical treatment if he can get it at similar cost (or covered by health insurance) at home or within 1 hour flight? What about the growing medical services infrastructure in surrounding countries and how it impact the demand from citizens of those countries on Dubai Healthcare services? He is talking about growth in car export market. What a load of none sense is this, why the car manufacturers wants your help to sell in other markets? Are you telling us that they can't find capable local dealers in those countries so they decided to work with you to do the demand aggregation, sales channels, and after sales support?!!! Not adding up at all. There are many questions he opened from this poor interview.
The problem is dubai was build for middle class and wealthy people unlike other middle east countries. But when 4 years ago they start replacing the salaries of the middle class to lower class. That's when dubai stop having working spending money and circulating the money. That's the problem . All malls and restaurants was supported by middle class and not the tourists. Once the salaries went down. The middle class left. We talking about 500.000 working class from 15k and above left . Nothing to do with retail . You pay good salaries and one aed spent can rotate between 3 million people generating economy. Once you pay low salaries . Then people send money back home. And that stops the circulation of economy . Rich people keep the money in the bank. Middle class spends . Low class spends the money back home. Simple rules.
And he wants to buy more existing hotels. He didn't say the reason. The reason of course is to manipulate the prices and make the competition easier for him.
@@pinkfloyd364 u r arsehole so plz come 2my room tonight 2talk & play then show u how beautiful is dubai from my room balcony since u missing dubai so much
This the one ☝️ and only Busnissman who’s LOVE his country&the people more than his money and fortune. The rest of Busnissman in UAE 🇦🇪 they just LOVE there money full stop 🛑 this way He really Deserves Respect ✊
He is one the best successful Businessman in the world. Millions of his employees are working under his umbrella with different nationalities across the globe. Well speakers doesn’t means he will be successful businessman, its needs continues efforts.
Don't understand why would anybody go to Dubai when there is so many incredible beautiful,places that are full of history,culture in the world. Dubai is a concrete jungle which is so hot in the summer that nobody wants to leave their air conditioned rooms.
You are 110% right sir you know the History and geography and economy and the culture of the world you can’t fix the people i mean you can’t repair People’s mind and change there mind
Anwar Nayani it's even worse I riyadh lived there for ten years,they treat people worse than animals,these cities were built on blood sweat and tears used to go to Dubai once a month until I really got fed up of the fake ness of the place,Oman is so much nicer
This is the most uninspiring and annoying business videos I've seen from Bloomberg. He needs to hire someone to speak on his behalf. Not only he doesn't know how to talk but he doesn't even make any sense.
Dubai is My Second Home Place....... actually I really thanks this country for giving me opportunities that I cannot got in my Own country specially financial.......I know there is also a pros and cons here in Dubai......when I start from bottom to not the top but step by step by perceverance and hard working...... Specially In Faith in Our GOD........working aBroad is for people who's with Steel Heart but with Clear Mind.......
Idk but I agree with the schools and hospital thing...My school had so many students that they had to build another building just to get more space but they still have to many children
See.. I will tell something. I'm in uae.. I am waiting for 2020 expo. The money they spending for 2020 is enormous. In dubai only in tcom area arround 50 or more hotels opened and under opening all for expo 2020. But before 5 year u can see European or English people in all malls on Fridays, nowadays no one is there. The malls are empty.. And as an hospitality employee I can conform that the rate which is now is half or lesser than 5 years ago. As cost reduction many of western people have moved or terminated from contracts or job. Oil companies are removing employees by 1000s. And I love uae. It's home away from home.
Dubai is doing okay considering the general global economic situation. they are in a slump that could have been worsened by the Qatar blockade and Saudi-Iranian fracas. I believe the government is smart enough (atleast compared to other world governments that are political) to resolve the issue and find multiple solutions to provide economic relief. there should however be some reforms such as 100% property ownership as well as 100% business ownership for foreigners who invest in Dubai, for example anyone can open a business in the uk or anywhere in the western world and own it fully even without ever setting foot there, same for property. Dubai is still high up on the list of best places to do business world wide, in my country the average tax rate is about 110%(i kidd you not), plus a plethora of regulations limiting economic activity. what I derive from the panic is that everyone's eyes are on Dubai because of the brand they have created but obviously if you sheikh Mohammed, He would tell you point blank that Dubai is not in heaven and therefore not immune to world economic problems. Furthermore the PR machine of Dubai needs to go into overdrive to restore investor confidence, they need to hire an army of you tubers, face bookers, and etc to respond to all the internet trolls and bashers. if they don't do this, the narrative will stick and hence become believable.
Isn’t it weird that so many people have commented that this guy( Habtoor) doesn’t know much what he talks about. My argument is that this person has earned so many billions that will buy all of you in cash, and you are arguing that he knows nothing? How interesting
He begun by saying there is no Global Warming. That ends the debate. I live in Dubai, and i can say things are not smooth. If it was smooth there was no need of introducing vat, there wouldnt be increase in government fee, there wouldn't be the massive mergers of bank across the UAE
I stopped in dubai for 12 hours.. might of been the worst experience of my life. They tried to make it mini europe and failed instead of expanding on there own culture.
In 2008 Dubai was suffering, but some businesses were running and new people were coming in, Now it’s worse, the government fees and fines is higher than in 2008... to the extent that people prefer jail than paying the government heavy fines, clubs and bars are less crowded in weekends, could be because there are two many places to hang out too... it takes longer to find a job, businesses who are quitting are more than the businesses created. Majority of the population are in debt to greedy banks, so spending is less... government is more keen on hiring UAE citizens despite there high salaries and low productivity...i know Dubai will survive eventually because the leadership are smart and flexible... i huge reform in areas that affects people living life’s daily is required
The demand only existed because of oil wealth from neighboring countries. Now that the oil wealth is disappearing, demand for goods and services in Dubai will disappear forever.
by the way Mr Dan Heather this man is one of the biggest icons billionaire and he is one of the smartest businessman and he is helping the poor and his people and thats is free nice of him
Have anyone in Dubai/UAE, Checked the Temperature in this December ? It used be so Chill and Foggy, We can't put our Bare Legs in Floor. We needed to use Hot Water Shower. We used to use Swaeter. Now nothing of that in 2018 December Global Warming, is Sure Shot Happening in Dubai/UAE...
Dubai bashing has become a popular sport from ex-janitors in their home countries, (most of which had no growth or any chance for them).. Such ex-janitors be it engineers, financiers, airline pilots and whatever, got a lifetime chance by comming to dubai and became all, big shots, driving expensive cars, smoking cigars and emptying all their complexes to their subordinates from third world countries. These unwarranted high flyiers who did not have the balls to invest one cent out of their dubai windfall, are the dubai bashers at any given chance. Dubai is going through a contraction crisis but what Mr. Habtoor tried to say, rudely interrupted by the journalist was that this is part of a global state of affairs. In many other more mature economies, the real estate situation is much worse.Another important and correct point is to adjust the expansion of rooms and properties in order to achieve better margins. So these two points and the last but not least that the government and the business work in tandem, are all very strong and serious points and the comments discrediting Mr. Habtoor are sour grapes from unworthy yet enriched by dubai, cigar smokers
You are so right. There has always been a lot of Dubai bashing from people who are either jealous or may have been in Dubai, lost their jobs, had to go home, and now sits somewhere in Europe, in the grey and cold weather and where the streets are too unsafe to go out at night. Look at the state Europe is in! Sadly the main stream media is not covering it.
@@lovepearl are you asking this stupidity to me, Nicholas? The answer is of course, nothing, and I don't know him. What I know is that from such a question, you are an empty scull, brainless. Because you did not understand the horrible (from the interviewers side) interview and what deep meaning had the obstructed replies of Mr. Habtoor.
Mr. Habtoor, an aged hard worked billionaire, dressed up with his country's flag to defend ill comments against an amazing country, Dubai, which has achieved within 40 years more than other can reach in 400 years. He was bashed with meaningless statistics by a journalist who should not even be a shoe polisher in a Turkish market, unless he likes to sit on his knees.. Mr Habtoor replied very intelligently to all, the climate parallelism was to iustrate the manipulation of news...
This guys is your typical uncle who knows nothing but likes to talk about the world.
haroon420 😂😂😂😂
lol
LMAO
'This guys is your typical uncle ... (with a billion net worth)'.
ur grand parents will born again wont get money he have his sucess uncle dummo
This guy sounds like as long as his friends and himself are doing great the entire world economy is great Foh
Brainiac Bold exactly what I was thinking ..
Of course you idiot! If the biggest business people businesses is doing great that means others things will be good
Hackingaction sorry to disagree with you , your theory is not applicable in all situations ,.
you meen the rich Khaliijis way off thinking. They are the worst off this planet.
Next he will say "2Pac is Still Alive"
Yeah I am
This guy doesn't know how to create a single argument ... don't call him again please
ismael interviewer is stupid he should know who to invite interviewer is asking stupid questions
Not his mother tongue, this guy can buy out trump
Yh like he cares about it😂his pocket is full look at you complaining about the way he talks and argument. This why successful people dont waste time to talk but take action.
@@osmanghalid9452 he will buy u an sell u to goats mind ur language cartoon face
@@wayofsiratemustaqeem5288 this isn't a interview, he's only sucking on his wallet..
5:07 pay attention at how the British reporter gets super mad for host comparing prices of hotels with London 😂😊😂😂😂
Sam K I’m with you on that brother! Not all westerners but there are a lot of people who are too jealous
The reporter's mind is having internal explosions
The worst interview ever! Dubai has been declining for years now including real estate and tourism. Next crash will be much worse then 2008.
Bye bye Dubai
I hope so too, so I can bulk purchase properties for pennies on the dollar at the bottom of the market.
@@DaygoG and then what!??
FACTSABULOUS DEXTER...Simple I do the same thing my parents and grandparents do every time there's a recession. Give the properties small upgrades to make them better than their comps, lease them out short term, nowdays we have AirB&B as well so I can price them the same as the low hotel room rates for but an entire private apartment, and when the economy recovers and they appreciate in value we sell them off for a substantial profit.
@@DaygoG much needed reply ty bro
@@DaygoG hey do you think it's a good idea to make a loan from bank to build a small house on my land and rent it out !?
I am assure UAE is one of the strong Platform for the secure Business while compare with others countries in Europe.. Anyway thank you Sheikh Muhammad
We humbly demand VAT to be removed completely.
Else I (Indian) has to stop my business and return back to India.
0:14 "How tha ffff" kudous for the profeesional transition :)
I'm so glad I scrolled down this far to see this comment xD
You lost me after the comment on global warming 🙄
Russel Godfrey D'Souza why? That shit doesn’t exist anyway
It's a fact though. It's not something that you have the choice to believe in like religion or something.
Omar Shaaban there’s no actual long term proof.
Lol..same here
This guy is lying just to save his face name and business. He contridicting himself the whole conversation. He said dubai is doing good but he not making revenue on his hotels. Plus he said do not expand hotels yet he said tourism is high. If tourism is high why isn't he making money in the hotel business ??? Dubai is done. It's new name is Lagos due to all the Africans there now.
More like India 2.0. Sometimes you think Dubai is a city in India.
He is an expert, so if he says Dubai is doing well, I will take his word for it than yours.
O boy! Dubai is more of Pakistan, Indian and Philippine population more than Africans, what your saying is bullshit! Argue with facts not with insults.
There's more Indians and arabs than africans u dumb idiot most of the visitors are all other Asians
@@Musaiftekhar lol dubai is in a recession. Dubai is in a white collar recession. So much for him being an expert on vacant hotels and operating at a loss.
Whole world is going through uncertainity
Kudos to Dubai and its smart rulers who created wonderful place from nothing.
Its a paradise for Westerners who earn almost 5 times more salary than their Native countries with less Tax %
He does not make sense saying a hotel room in London is 1000pnds and Dubai it is $100, I was in both cities 6 months ago and Dubai is expensive.
M Manek u are right
Everyone knows even on the radios they are saying that we are cheaper then Europe. This statement worth for a good laugh. Compare yourself TRULY with Europe first. The most important thing is Europe is providing nationality are you? Expatriates are the one who's running UAE over all such as taxi drivers, grocery shop NOT BY LOCALS.... What relief you have provided to low salary expatriates?
M Manek what he meant is the same type of hoteks
To sleep 😴 in City of London why
Someone pay 1000-00 pounds is
insane and crazy 😜 I can find you
room in London 3 star 🌟 hotel
for 80 to 100 💯 pounds a night
go to internet
@@anwarnayani5849 He is not saying that he is saying that the quality of a room in dubai that would cost 100 quid is similar to a room in london that would run 750 quid/1000 dollar, and he's not wrong london rooms are shit glorified travel lodges unless you have cash
Ridicilous high prices in their hotels. There is no rooms for 100$ in Habtoor hotels. Do not compare with London. Compare it with Turkey. I live in Saudi and prefer to fly 4 hrs and stay in Istambul rather than fly 40 mins to Dubai. Reduce the prices. He talks about schools. They cost 15000$ per year.
yes because its Dubai not Riyadh or istaMbul sir, what do you expect ? 1000$ a year ?.. do you know how much school cost in Kansas? go look it up :D
I lived and worked in Dubai for 21yrs and met Khalaf al habtoor personally. Must say he is a man with a vision and never afraid to pursue it. Im now built my life in another continent but thanks to Dubai i got a good start though with a lot of struggles. I visit Dubai as and when i can but find its loosing its soul though times have changed and moved on. I see a lot of artificial and fake gloating to impress the visitors.
I lived in Dubai in 7 years and I agree it’s declining massively. You can buy a property in the best and most luxurious place in Dubai for something like 400k or 500k which is absolutely nothing compared to other major luxury cities like London, NYC, and Paris. In addition to that, the saturation of the retail and property projects has demolished the market and created a steady decrease in value of those fields. His point about hotel prices in London compared to Dubai is staggering and true.
I leave in dubai and please let me know where i can buy decent size property and decent location.I will appreciate it.
gazmagi Downtown Dubai. Probably the best place in Dubai and you can find properties that vary in price hut a good one would cost 500k or 400k
Are you in touch with reality Hassan..you will never find even a studio apartment in Downtown for 500K....
Can you buy.. ? Do you own any ? no ? then why do you talk about things you Don't know ?
@@Omen1248 lol bro when property are so lowly priced there are faults associated with it. The cheap marina apartments usually have burning histories. Also, comparing other city property prices is like apples and oranges. For example, Texas a rich state has cheaper houses than california. Does that mean texan economy is declining? The benchmark is different for different countries. Also you won't find an independent villa less than 3 million dirhams in dubai. Whereas in the states, youll find millions and millions of individual homes for less than 3 million aed
How do you sell Asian built cars back to Asia for a profit?
ABSOLUTELY NO ONE BOUGHT ONE OF THOSE ISLAND PROPERTIES!!
DUBAI IS BANKRUPT
There are 2,208 billionaires in the world.. chill they will buy soon.. its not chocolate.. its something for billionaires
@@alialkhalsan1010 No one wants to buy property in a city of Losers. All of Dubai is filled with the stench of a rotting corpse and that scares investors away.
worst interview I have seen in a while
this guy is absolutely saying nothing
couldn't finish the whole thing
this guy is totally clueless
Kostas lol he is a billionaire and you say he is clueless. Have you made 100k dollas in your life?
Hackingaction
Daaaammmmmmmmmmmmmmmmmmmmmmn oh no
Dubai needs hotel/real estate in combination with farmland and experiences. People like to learn how to sustain themselves by growing food and learn about animals. :)
When he says : ¨Let me complete, my, my, because i am waking up now¨😂😂😂
He sounds like the great general Alaa Din
Great Business person Mr Khalaf.
I totally agree VAT should completely canceled.
Yes, esp cars sales are effects beacuse of the VAT. Whoever is going to buy the car has to pay, but when it's exported outside the VAT is refunded
Great question from the interviewer about VAT. Spot on.
UAE needs to work on a permanent residency program, leading to citizenship, that is what people want, and what will prevent the massive exodus of current residents to other countries. Free zones are great but people need 100% ownership in the mainland as well. You have to force your people to compete. This is the reason US, UK, Canada, Australia, etc are world leaders because they give these rights. I understand the locals are a minority but imagine in 100 years, the whole world population will be beige anyway... Dubai needs to evolve it has a lot going for it. Put a price on it. Example, USD 5MM for UAE PR. 10YR Government bond. Returned back without interest. In return, the investor gets PR and eventually full citizenship after 10 years of residence. Do this and I guarantee you will see a change....the retirement visa is a joke...
They are never going to give permanent residency because this will deplete their resources at a much faster rate. An average expat that earns like $1500 on a job, if the same position is being offered to a local then he will get $2500+a government stipend of $2000 regardless of his experience in that field. They have named it emaritization.
Right now talented and experienced expats are moving out of UAE leaving a huge gap to be filled by under populated locals with no experience and with higher salary demand.
@@Soroush202 Good point, that is why I mentioned PR against Capital Investment
Name one Arab country today that Grant's citizenship to NON Arab Expats. What a silly statement u came up with...
@@reinerdxb What you on about? There are several citizenship-by-investment programs in the world. Arab or Non-Arab doesn't make a difference. Open to almost all nationalities. What world do you live in?
VelorumTV He said name one Arab country country that grants citizenship ... ARAB COUNTRY !
I was in Dubai a few weeks back, amazing place. They don't fuck around over there they actually get shit done, and they're nice people unlike when you come here to New Zealand or go to Aussie most people don't give a fuck.
Better to interview some kerala guy in his hotel.he does not even know his business...
and yet I see them everywhere running businesses😂
Sorry to say but that Kerala guy won’t be able to speak even little English or Hindi.. just yanda toda.. yanda pora..
They only know to make money and give jobs😂
@@afzalmalham still 1000 times better than this fool.
As though things are very rosy in America or the UK.
There are problems everywhere in the world, why then talk about Dubai??
We are Pakistanis and are grateful to Dubai for accepting us, allowing us to work, stay and make money.
I am sure with the grace of Allah and the wise Leadership of Shaikh Muhammed Dubai will shine again like never before.
Dubai has the good wishes of all the Indians, Pakistanis and other nationalities who work and stay here.
He would say there’s “No Global Warming” b/c he has investments in Oil & the Auto Industry and lives on a huge Sand Dune😡. And obviously if they build more Hotels he looses money.
Habtoor owes substantial monies and has stopped paying its bills ! The nerve to make opinions while defaulting on its obligations...
what has Dubai to do with Mitsubishi?
That's basically ppl from here. They answer questions by giving examples out of context about things that are doing well always like schools and cars. Is good everywhere. Panel talks about retail and hotels and habtoor answers about emirates airlines lol
Just because he's a billionaire, he thinks Dubai is having his best economic boom right now. Investing in Dubai is very risky right now and its going downhill for the past 2 years. I own couple of properties in Discovery Gardens, Dubai and my rents from 70k Aed which I used to get from my tenants in 2016 went down to 40k Aed (40% drop on my rental income) and my studios went down from 45AED rental income to 28K. Secondly, my apartments value from 800k AED went down to nearly 600k AED (25% drop on my property value) US$60K loss per apartment. My dad's palm Jumeriah 3bedroom went from 5Million down to 3.2 Million AED. He lost nearly 1.8 Million Aed or US$500,000 on his property value. He bought is for 4.8Million back in 2008 and next month is 2019 so in 11 years no capital gain and instead he lost half a million dollars or nearly 40% loss on property value. What fantasy world are you living in by claiming that Dubai is # 1 in terms of economic boom. Wake up its year 2019 next month not 2006. You can verify all the rental and property numbers at Dubizzle.com and confirm what I am saying from any real estate agent who's working there since 2005.
Shocking.. So what's your prediction on dubai
Sean Chris. : You are absolutely right. Prices are going down since 2014 actually, rent price and Salas price also... there was a guy called Rick who was arguing with you, but he didn’t have a clue about the prices even though he claims he is a local... I own properties in downtown, prices has dropped here also... so not only in the less affluent areas. In Burj Khalifa you can buy an apartment 40% cheaper than in 2014... investors lost load of money, it’s a well known fact.
Such an amazing man, god bless u abu rashed
Maybe he doesn’t speak queen english but he talks straight about business. Doesn’t sugar coat anything... i like his style . And to all the Haters : Dubai is not lost guys. I’ve been investing here for many years and i’m happy with the results and I’m from Europe.
There are cycles as he says like in every market but overall Dubai does have a big potential with one of the biggest airports in the world and in my view Best airline in the world.
BornInSoho 97 none sense comments Dubai is in big whole
Retailers in Whole is dead
Commercials real estate in
Whole is declining
Resident real estate 🏡 in
Whole declining
Construction 🚧 is in
Whole declining
Airport is close
People in business are
leaving
Labours are starving
Leaving
More down
More down
Good luck 🍀
Anwar Nayani i have many apartments in downtown Dubai... all of them rented... net return% 5% to 6%. If you don’t believe me send me your email and will send official tenancy contracts.
The airports are closed everywhere in the world... retail is not dead, LV and Gucci in Dubai mall are one of the best performers in the whole world among LV and Gucci, i know the managers there.... construction is not down, although the government has told developers to launch less units because there is an over supply on the market.
You don’t have facts in your hands... yes there is a slight decline, but it’s far from collapsing
Interesting Interview Bloomberg. Keep it up
He sounds like my father in law... I’m surprised he didn’t blame Israel, the Jews and America for all his problems
If any culture wants to do business globally, then it has to make some permanent concessions, I don’t care how old the culture may be. As the Chinese are learning (how to treat foreigners especially) the hard way, the Arabs must learn how to treat people, both in business and workplace. The days of slavery are over, we are not living in the dark ages and as Ethiopia has successfully shown, Muslims and Christians can live in harmony as neighbors. Arabs in both business and especially to workers (foreigners from Africa mostly), must learn how to treat people. Perception is indifferent to reality. That being said, I love my Arab brothers and sisters. Long live Dubai!
Wait until the oil runs out. The Arabs haven't educated their masses and the foreigners will leave the moment the money dries.
Jay A M
You're right. But the problem when they do emiratisation law everybody calls them racist for putting their people first! Or what you think is the problem ?
40 seconds in and he's already denying global warming.
Doesn’t seem like there’s enough people visiting Dubai nowadays for even more hotels
the roads over here do not agree with you sir.
Im a Dubai local and I can tell you that business sucks regardless of what he says, if you have any doubts look at real estate prices and the stock markets indexes.
Mohamad Al Yousuf u tell it like it is
How many buisnesses do you have.. ? as much as he does ?... do you have 30+ years experience like him ? no.. ? i believe him then sorry
This guy is awesome lol
Love his accent !
He's a dick man
This guy is living on denial UAE is finished face the fact,
he is honest...he can’t bash Dubai too much
It's weird to see lots of loosers making fun of a proven billionaire who creates opportunity for smart people to dream BIG.
well said.enough is enough.
Is he in denial status ??
sami alkhuwaiter Let him loose a few billion, it will all sink in eventually.
the Hotel's Rates in Africa olso is Higher than Dubai. in Rwanda or Ethiopia 3 Stars hotel is 150 euro per night.
great sir... very clear and right statement
he is not touching defense, he is not touching the oil price and gas from Doha..........I like him as he purchased the Imperial Hotel Vienna and will never make money with it except he sells in 10 years............so it real state but has nothing to do with operating. In operating likes the had work. He is a great man and it is very sad i never met the grand person during my many years in the UAE and Middle East. He is smart and will change every day as he is a very warm businessman which can connect with any one..............................H.Simon
Was this interview a joke?...please tell me he is trollin??
Dubai will continue building, we just opened Caesars Palace and Bellagio is coming up! - Al Habtoor can discount his rooms if he would like lol!
I don't understand. Why does Japan not sell directly to China, Mitsibushi
Well said about VAT.
Atleast an honest answer.
I am warming up now and there's no global warming 😂😀😁😄😅😆
The demand for goods and services in Dubai only existed because of oil wealth from neighboring countries. Now that the oil wealth is disappearing, demand will disappear forever.
Selling a Mitsubishi to Asia? From Dubai?
He is clueless, he is talking about local schools and hospitals which are pretty much local economy dependant on people moving in to live in Dubai which is not the case. I know a lot of people shut down in Dubai and moved to Australia, Canada, Pakistan, Turkey, and many other business friendly countries that presents variaty of investments opportunities and have a good job market compared to Dubai.
He is talking about growing numbers of students in his school but didn't say how much they dropped the fees, what was the numbers his school grow from, what is the drop in number of students in other schools, and most importantly what statistics tell about the overall sectors. There are reports talks about 35000 students from Dubai didn't re-enrolled in any school in Dubai. Can he share numbers of transfer certificates issued by the regulator in Dubai? How Many are within UAE and how many outside UAE.
Medical Services that he talking about will require attracting expertise that will come at high price tag and hence makes the services price really high for end customers. Then the question why would someone fly more than 3 hours for medical treatment if he can get it at similar cost (or covered by health insurance) at home or within 1 hour flight? What about the growing medical services infrastructure in surrounding countries and how it impact the demand from citizens of those countries on Dubai Healthcare services?
He is talking about growth in car export market. What a load of none sense is this, why the car manufacturers wants your help to sell in other markets? Are you telling us that they can't find capable local dealers in those countries so they decided to work with you to do the demand aggregation, sales channels, and after sales support?!!! Not adding up at all.
There are many questions he opened from this poor interview.
Verry good
The problem is dubai was build for middle class and wealthy people unlike other middle east countries. But when 4 years ago they start replacing the salaries of the middle class to lower class. That's when dubai stop having working spending money and circulating the money. That's the problem . All malls and restaurants was supported by middle class and not the tourists. Once the salaries went down. The middle class left. We talking about 500.000 working class from 15k and above left . Nothing to do with retail . You pay good salaries and one aed spent can rotate between 3 million people generating economy. Once you pay low salaries . Then people send money back home. And that stops the circulation of economy . Rich people keep the money in the bank. Middle class spends . Low class spends the money back home. Simple rules.
Sells cars = denies global warming
Rents hotels=discourages building more hotels.
And he wants to buy more existing hotels. He didn't say the reason.
The reason of course is to manipulate the prices and make the competition easier for him.
he is smart
NO GLOBAL WARMING?!!!! Is he serious?!!!!! I don't think he even knows what is global warming.
Uae is worlds best country and I believe that.
Go all over the world that most comfortable place is UAE.
Congratulations for finally being reunited with your cousins the jews
Really?
I guess I didn't travel to any other countries in the world, only a ignorant Arab fool you never travel beyond the UAE would speak this way ,😁😁
Must be an Indian to say that, since UAE is cleaner than their shithole, they think it's heaven.
@@pinkfloyd364 u r arsehole so plz come 2my room tonight 2talk & play then show u how beautiful is dubai from my room balcony since u missing dubai so much
This the one ☝️ and only Busnissman who’s LOVE his country&the people more than his money and fortune.
The rest of Busnissman in UAE 🇦🇪 they just LOVE there money full stop 🛑 this way He really Deserves Respect ✊
Terrible interview
ABSOLUTELY CORRECT INTERPRETATION OF THE SITUATION IN DUBAI.
He is one the best successful Businessman in the world. Millions of his employees are working under his umbrella with different nationalities across the globe. Well speakers doesn’t means he will be successful businessman, its needs continues efforts.
Born a Billionaire, born out of touch with reality!
U a such a smart investor 👍👍
Don't understand why would anybody go to Dubai when there is so many incredible beautiful,places that are full of history,culture in the world. Dubai is a concrete jungle which is so hot in the summer that nobody wants to leave their air conditioned rooms.
You really can't understand? Wow...
You are 110% right sir you know the
History and geography and economy
and the culture of the world you can’t
fix the people i mean you can’t repair
People’s mind and change there mind
This above comment for mr
James rippingale
Anwar Nayani it's even worse I riyadh lived there for ten years,they treat people worse than animals,these cities were built on blood sweat and tears used to go to Dubai once a month until I really got fed up of the fake ness of the place,Oman is so much nicer
Because paying so much money for media and advertisement but in reality country without culture
This is the most uninspiring and annoying business videos I've seen from Bloomberg. He needs to hire someone to speak on his behalf. Not only he doesn't know how to talk but he doesn't even make any sense.
Manus is very good, nice interview style.
Dubai is My Second Home Place....... actually I really thanks this country for giving me opportunities that I cannot got in my Own country specially financial.......I know there is also a pros and cons here in Dubai......when I start from bottom to not the top but step by step by perceverance and hard working...... Specially In Faith in Our GOD........working aBroad is for people who's with Steel Heart but with Clear Mind.......
Did anyone pay attention to the title of this video? They wrote; build more hotel in city! In THE CITY you mean.
Idk but I agree with the schools and hospital thing...My school had so many students that they had to build another building just to get more space but they still have to many children
See.. I will tell something. I'm in uae.. I am waiting for 2020 expo. The money they spending for 2020 is enormous. In dubai only in tcom area arround 50 or more hotels opened and under opening all for expo 2020. But before 5 year u can see European or English people in all malls on Fridays, nowadays no one is there. The malls are empty.. And as an hospitality employee I can conform that the rate which is now is half or lesser than 5 years ago. As cost reduction many of western people have moved or terminated from contracts or job. Oil companies are removing employees by 1000s. And I love uae. It's home away from home.
hmm.. really ? malls are empty.. ? i might be living somewhere else then
Dubai is doing okay considering the general global economic situation. they are in a slump that could have been worsened by the Qatar blockade and Saudi-Iranian fracas. I believe the government is smart enough (atleast compared to other world governments that are political) to resolve the issue and find multiple solutions to provide economic relief. there should however be some reforms such as 100% property ownership as well as 100% business ownership for foreigners who invest in Dubai, for example anyone can open a business in the uk or anywhere in the western world and own it fully even without ever setting foot there, same for property. Dubai is still high up on the list of best places to do business world wide, in my country the average tax rate is about 110%(i kidd you not), plus a plethora of regulations limiting economic activity. what I derive from the panic is that everyone's eyes are on Dubai because of the brand they have created but obviously if you sheikh Mohammed, He would tell you point blank that Dubai is not in heaven and therefore not immune to world economic problems. Furthermore the PR machine of Dubai needs to go into overdrive to restore investor confidence, they need to hire an army of you tubers, face bookers, and etc to respond to all the internet trolls and bashers. if they don't do this, the narrative will stick and hence become believable.
Isn’t it weird that so many people have commented that this guy( Habtoor) doesn’t know much what he talks about. My argument is that this person has earned so many billions that will buy all of you in cash, and you are arguing that he knows nothing? How interesting
finally.. a man with brain :D.. give him 1 million habtoor he deserves it xD
perfect example of money speaks louder than brain
This video just shows no matter how intellectual or smart you are, it don't mean you'll become rich
He begun by saying there is no Global Warming. That ends the debate. I live in Dubai, and i can say things are not smooth. If it was smooth there was no need of introducing vat, there wouldnt be increase in government fee, there wouldn't be the massive mergers of bank across the UAE
Now you know where Sacha Baron Cohen (Aladin) got his caracter for his movie......lol
I stopped in dubai for 12 hours.. might of been the worst experience of my life. They tried to make it mini europe and failed instead of expanding on there own culture.
12 hours in Dubai.. hmm good dont come back its hot over here go to Europe big and cold
In 2008 Dubai was suffering, but some businesses were running and new people were coming in, Now it’s worse, the government fees and fines is higher than in 2008... to the extent that people prefer jail than paying the government heavy fines, clubs and bars are less crowded in weekends, could be because there are two many places to hang out too... it takes longer to find a job, businesses who are quitting are more than the businesses created. Majority of the population are in debt to greedy banks, so spending is less... government is more keen on hiring UAE citizens despite there high salaries and low productivity...i know Dubai will survive eventually because the leadership are smart and flexible... i huge reform in areas that affects people living life’s daily is required
Varangian Rus not car loans , credit cards
Guy is just talking sense, if you have less demand for hotel rooms stop adding to the supply. Work with what you have until the demand increases.
The demand only existed because of oil wealth from neighboring countries. Now that the oil wealth is disappearing, demand for goods and services in Dubai will disappear forever.
by the way Mr Dan Heather this man is one of the biggest icons billionaire and he is one of the smartest businessman and he is helping the poor and his people and thats is free nice of him
Al habtoor the benevolent business man
Although I don't agree with his opinion on global warming, he does have heavy insight and background on growing economy.
They live in different world. Where there is a clear disconnect from the normal people living day to day. It is a shame they do not understand.
What car selling this guy talking about ie what car factory is out there i. Dubai
He is exclusive distributor of Mitsubishi, Bentley, McLaren, Bugatti, and other automobile brands in the UAE. He also sells to other countries.
Hez one hundred n one percent right about hotels...
Did he pay to be interviewed?
'Theres nothing called global warming because I'm warming up now I have to tell you' - Khalaf Al Habtoor
Visiting now and there are MANY hotels currently under construction
Have anyone in Dubai/UAE, Checked the Temperature in this December ?
It used be so Chill and Foggy,
We can't put our Bare Legs in Floor.
We needed to use Hot Water Shower.
We used to use Swaeter.
Now nothing of that in 2018 December
Global Warming, is Sure Shot Happening in Dubai/UAE...
FreePrincessLatifa from Dubai!!!!!!!
Really ? isn't that trend over already ?
Dubai bashing has become a popular sport from ex-janitors in their home countries, (most of which had no growth or any chance for them).. Such ex-janitors be it engineers, financiers, airline pilots and whatever, got a lifetime chance by comming to dubai and became all, big shots, driving expensive cars, smoking cigars and emptying all their complexes to their subordinates from third world countries. These unwarranted high flyiers who did not have the balls to invest one cent out of their dubai windfall, are the dubai bashers at any given chance. Dubai is going through a contraction crisis but what Mr. Habtoor tried to say, rudely interrupted by the journalist was that this is part of a global state of affairs. In many other more mature economies, the real estate situation is much worse.Another important and correct point is to adjust the expansion of rooms and properties in order to achieve better margins. So these two points and the last but not least that the government and the business work in tandem, are all very strong and serious points and the comments discrediting Mr. Habtoor are sour grapes from unworthy yet enriched by dubai, cigar smokers
You are so right. There has always been a lot of Dubai bashing from people who are either jealous or may have been in Dubai, lost their jobs, had to go home, and now sits somewhere in Europe, in the grey and cold weather and where the streets are too unsafe to go out at night.
Look at the state Europe is in! Sadly the main stream media is not covering it.
How much did Mr. Habtoor pay you to write this essay?
Love - So were you also in Dubai and lost your job, and now you are bitter?
@@lovepearl are you asking this stupidity to me, Nicholas? The answer is of course, nothing, and I don't know him. What I know is that from such a question, you are an empty scull, brainless. Because you did not understand the horrible (from the interviewers side) interview and what deep meaning had the obstructed replies of Mr. Habtoor.
Mr. Habtoor, an aged hard worked billionaire, dressed up with his country's flag to defend ill comments against an amazing country, Dubai, which has achieved within 40 years more than other can reach in 400 years. He was bashed with meaningless statistics by a journalist who should not even be a shoe polisher in a Turkish market, unless he likes to sit on his knees.. Mr Habtoor replied very intelligently to all, the climate parallelism was to iustrate the manipulation of news...
That's why,there's EXCESSIVE HOTEL in Dubai. One of the new hotel offering me 550USD per month as a concierge position... Low paywage -_-
Local Mitsubishi sales were dramatically down in 2017...this is all smoke and mirrors. Schools and Hospitals....money laundering.
Was this guy lost when you found him to interview? Next time make sure he has his medicines.