Warren Buffett's Investing Partner's Shocking Final Move

Before he passed away, Charlie Munger, Warren Buffett's investing partner of 60 years, was rumored to have quietly made one final investment... Up until now, it has remained hidden from the public. It's potentially the smartest, most profitable, and most under-valued AI investment you can make today.

Dubai's ceaseless boom is putting strains on its residents

JON GAMBRELL
January 27, 2025

DUBAI, United Arab Emirates (AP) -- Skyscraper-studded Dubai has been on a hot streak for the last five years -- and some residents are starting to feel burned.

The city-state has seen record-breaking real estate transactions and as more and more people come to live there, and its state-owned airline Emirates is booking record earnings. But all that growth comes with strains for the city's population.

Traffic feels worse than ever on Dubai's roads. The price of housing continues to spike even with new real estate projects being announced almost daily. Caught in the middle are both its Emirati citizens and the vast population of foreigners who power its economy -- sparking rare public expressions of concern.

"Dubai is on steroids but affordability risks are increasing," warned Hasnain Malik in a starkly titled report he wrote for the global data firm Tellimer, where he's a managing director.

Skyrocketing housing prices

Under Dubai's current plans, the city aims to have 5.8 million residents by 2040, adding more than half its current estimated population in just 15 years. Since 1980, its population has already soared from around 255,000 to around 3.8 million.

Real estate lit the fire in Dubai's growth in 2002, when the desert sheikdom began allowing foreigners to own property. After sharp falls during both the 2008-2009 financial crisis and Dubai's brief coronavirus lockdown, prices have been soaring.

Today, average prices per square foot are at all-time highs, according to Property Monitor. Rental prices increased as much as 20% in key neighborhoods last year, with further rises likely this year, with some residents moving to communities further out in the desert, the real estate firm Engel & Völkers said.

Jammed roads

Even before the boom, some people who worked in Dubai chose to live in the neighboring emirate of Sharjah, some 20 kilometers (12 miles) north of the city's downtown, or further away. Some 1 million commuters from other emirates jam the 12-lane Sheikh Zayed Road that runs through the center of the city and other highways every day, as studies suggest that as many as four out of five employees drive to work alone.

That traffic has only intensified with Dubai's new arrivals.

While the rest of the world saw as much as a 4% increase in the number of registered vehicles in the last two years, the city's Road and Transportation Authority says there's been a 10% increase in the number of vehicles.

So many vehicles have been registered that the city has had to make license plates longer.

And while the city keeps building new flyovers and other road improvements, more cars are coming from more directions than ever before.

"Dubai is very attractive, more and more people are coming," said Thomas Edelmann, the founder and managing director of RoadSafetyUAE, which advocates about traffic issues. "I think it's easier to get people quickly to come to Dubai and to convince them about Dubai, then to build a new intersection or a new highway."

Boom concerns also raised by Emiratis

Congestion has got so bad that it's driving even prominent Emiratis to break their customary silence on public affairs.

Habib Al Mulla, a prominent Emirati lawyer, wrote on the social platform X in December that while authorities were working on congestion, the problem demanded "a set of immediate and long-term mechanisms." He followed up by publishing an opinion piece twice mentioning "congestion" as being among "pressing issues" for global cities like Dubai.

While phrased in mild language, Al Mulla's comments represented rare public criticism in the United Arab Emirates, where speech is tightly controlled by criminal law and social norms favor raising issues at a "majlis" -- a semiprivate setting convened by a traditional ruler.

"The concentration of wealth and opportunities created in global cities may cause income inequality that pushes out lower-income residents," Al Mulla warned in the English-language Khaleej Times newspaper on Jan. 15.

"The problem becomes acute when the wealth and opportunities remain inaccessible to segments of the national population who witness the city's allure being seized by outsiders. This may carry significant social risks, if not mitigated."

Then there's demographic concerns as the Emirati share of the population dwindles. While the number of citizens isn't public, a back-of-the-envelope, informal calculation shared for years by experts suggests Emirati citizens represent around 10% of the country's overall population of more than 9 million people, a number that's likely falling as foreigners rush in.

In December, sermon scripts issued for the Dec. 13 Friday's prayers directly touched on the duty of having more children.

"Increasing offspring is both a religious obligation and a national responsibility, as it contributes to the protection and sustainability of nations," the sermon read, according to a transcript issued by the federal government's General Authority of Islamic Affairs and Endowments.

A search for high-tech solutions

For Dubai's autocratic government, overseen by ruler Sheikh Mohammed bin Rashid Al Maktoum, possible solutions to the grinding traffic have ranged from the practical to the fanciful. The government in recent months has repeatedly encouraged companies to allow more remote work options, including in a report released in November that also suggested staggered and flexible working hours.

Adding as many as five remote workdays a month, along with the other steps, "can reduce morning peak travel time across Dubai by 30%," the study stated.

Dubai's road toll system, known as Salik, has added gates to charge drivers more and will institute surge pricing at the end of the month. Dubai's Metro, which boasts the world's longest self-driving rail line, will also grow beyond its broadly north-south routes in a nearly $5 billion expansion.

Then there's the flying taxi project. Since 2017, Dubai has been announcing plans for airborne cabs in the city. A first "vertiport" is being built by Dubai International Airport with the aim of offering the service from next year.

Dubai also plans 3,300 kilometers (2,050 miles) of new pedestrian paths, although during Dubai's summer months pedestrians have to contend with high humidity and heat of around 45 degrees Celsius (113 degrees Fahrenheit).

"In the coming years, residents of Dubai will be able to move around by walking, cycling, its extensive network of roads and bridges, the Metro and its new lines, water taxis, or flying taxis on specific air routes," Sheikh Mohammed said on X in December.

But for now, Dubai keeps attracting more people and more cars -- and the traffic jams only get longer.

Continue Reading...

Popular

Edmunds: 2025 Honda CR-V vs. 2025 Subaru Forester

The is a redesigned model, but Subaru didn’t exactly stray from the formula of the last generation. It’s still a boxy small SUV with great visibility, adventure-ready versatility, and a no-nonsense approach to interior design. Its many upgrades for 2025 help keep it competitive, but how does it fare against the class best?

Who is Mark Carney, the next prime minister of Canada?

TORONTO (AP) — Former central banker Mark Carney will become Canada’s next prime minister after a Liberal Party leadership vote in a landslide.

The Last Time Gold Flashed This Warning Sign, the Market Dropped 80% - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

Federal judge reinstates labor board member fired by President Donald Trump

WASHINGTON (AP) — A federal judge agreed Thursday to reinstate a board member whom President Donald Trump removed from an independent labor agency.

Donald Trump's 'Crypto Summit' Is A 'Critical Moment,' Experts Say

Industry experts expect the White House Crypto Summit on Friday to deliver crucial regulatory clarity and a framework for a U.S. strategic crypto reserve, potentially shaping the future of blockchain innovation.

Tesla's Burning. Stocks Falling. but the Worst Is Yet to Come - Ad

From FDR to LBJ... every major reset came from the very top. Now Trump is triggering the next one--not to preserve the system, but to rebuild it from the ashes. Fortunes could be made--or destroyed. Which side will you be on?

Greece says ambitious Mediterranean power cable project is on track despite setbacks

ATHENS, Greece (AP) — The future of an ambitious electricity cable linking the power grids of , and Israel by the end of the decade is on track despite a series of setbacks, Greece’s Foreign Minister Giorgos Gerapetritis said Thursday.

The Heart-Breaking Story Of Afghan Women Facing Deportation After Trump's USAID Aid Cuts

Over 80 Afghan women, studying under USAID scholarships in Oman, face imminent deportation due to Trump's aid freeze, risking dire consequences in Afghanistan.

Action Needed: Money Saved for Retirement? It Could Be at Risk... - Ad

Discover the 2025 IRS Loophole that thousands of Americans are using to help protect and diversify their retirement savings with gold and silver! 100% Tax & Penalty Free!

Explainer: What's a recession and why is rising anxiety about it roiling markets?

WASHINGTON (AP) — Stock markets , consumers and businesses have started to , and economists are marking down their estimates for growth this year, with some even seeing rising odds of a recession.

Palantir Cofounder Peter Thiel Might Write A Book About Ancient Prophecies, The Antichrist, And Armageddon - He Thinks We're Ignoring The Real Threat

Billionaire tech investor Peter Thiel is exploring a book on ancient prophecies, the Antichrist, and Armageddon, warning that society is ignoring the threat of a one-world government—a concern he believes demands urgent attention.

Forget "DOGE." Here's What Elon Is Really Planning - Ad

While the world watches Musk & Trump, his REAL plan is unfolding inside a Memphis warehouse. Even Nvidia's CEO is eyeing it. This could mint fortunes--if you move fast. Get the details before it's too late!

3 ETFs With Super Micro Computers Exposure, Enjoy AI Surge

Super Micro (NASDAQ: SMCI) is a top player in AI infrastructure with growing demand and potential for investors. ETFs like SMH, BOTZ and IGV can benefit from its growth.

Fashion trends for fall: Big shoulders, even bigger coats and a color story to dye for

PARIS (AP) — Paris has spoken, and fashion’s final authority has laid down the law: This coming fall, it’s all about power shoulders, enveloping outerwear, and a color palette that runs from somber to surreal.

Elon Musk's Memphis Secret... Revealed - Ad

What's happening inside this nondescript building in South Memphis is so incredible... That Elon's competitors have been flying drones over this place... Trying to get any kind of intel on his project. Tech legend Jeff Brown went there to investigate and what he found is truly a matter of national security.

Hackers Expose Customer Data - Retail Pharmacy Giant Paying $6.8M in Compensation

Retail pharmacy giant Rite Aid has agreed to pay $6.8 million to its customers following a significant data breach.

Freshpet Is Not Out Of The Woods On Consumption Trends, Analyst Says

JP Morgan analyst cuts Freshpet price forecast to $102 while maintaining a Neutral rating. Concerns over changing consumption trends and accuracy of estimates, but strong revenue growth and long-term potential. EBITDA and revenue growth estimates revised.

What Trump's New Wealth Fund Could Mean for Your Money - Ad

His recent Executive Order outlines a plan to create America's first national Sovereign Wealth Fund. President Trump has put the world on notice. This new Sovereign Wealth Fund may be coming - perhaps in as little as the next 90 days. Take advantage of the time you have to prepare.

Mortgage lender Rocket Cos. to acquire real estate brokerage Redfin in deal valued at $1.75 billion

Mortgage lender Rocket Cos. has agreed to acquire online real estate brokerage Redfin in an all-stock deal valued at $1.75 billion.

Johnson & Johnson's Golden Cross: Technical Momentum Meets Groundbreaking Lung Cancer Breakthrough

JNJ stock hits Golden Cross, signaling potential long-term upside. Latest breakthrough in lung cancer treatment could provide additional catalyst.

The 2025 'Trump Shock' [401K Owners Stunned] - Ad

Trump's Gold Reset? A massive dollar overhaul could be coming! Insiders say Trump may return America to the gold standard--sending gold prices soaring. He's been stockpiling gold for decades... should you? Discover how to legally move funds from your IRA & 401(k) into gold tax-free!

Takeaways from our investigation on AI-powered school surveillance

Thousands of American schools are turning to surveillance technology for 24/7 monitoring of student accounts and school-issued devices like laptops and tablets.

Canada's new prime minister is triggering an election campaign this weekend. Here’s what to know

TORONTO (AP) — Canadian Prime Minister is expected to trigger the process for an early parliamentary election this weekend for an expected vote on April 28.

Could MicroLEDs Mirror OLED's Rise? - Ad

The MicroLED market is projected to surpass $21 billion by 2027at a staggering 81.5% CAGR. And one pioneering company has developed a cost-effective production process that could enable mass commercialization of MicroLED displays..

Wisconsin appeals court overturns ruling allowing for emailing ballots to disabled voters

MADISON, Wis. (AP) — A Wisconsin appeals court ruled Wednesday that disabled people are not allowed to receive absentee ballots by email, overturning a less than three weeks before the .

How to roll over an old 401(k)

Old are a little like the old clothes in the back of your closet. You know you should do something about them, but there they sit, mostly out of sight and mind.

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Tech legend Jeff Brown recently traveled to the industrial zone of South Memphis to investigate what he believes will be Elon's greatest invention ever... Yes, even bigger than Tesla or SpaceX.

Tex-Mex chain On the Border files for bankruptcy protection

On the Border Mexican Grill & Cantina has filed for bankruptcy protection, citing pressure and changing customer behavior.

Ontario Zaps US States With Higher Electricity Prices In Retaliation To Trump Tariffs

Bloomberg reports that Ontario on Monday has implemented a 25% electricity price hike on exports to several states. Premier Doug Ford emphasized that the move targets President Trump's policies rather than American consumers.

The DOGE Shock: Nine Stocks to Buy - Ad

They say that DOGE's real agenda could shock the entire stock market in the coming days - sending a handful of widely unknown stocks soaring. And they've compiled the definitive investment playbook for anyone who wants the opportunity to capitalize.

Honduras holds primaries as voter frustration simmers over security and the economy

TEGUCIGALPA, Honduras (AP) — Voters in Honduras will select candidates from the three main parties Sunday to compete in November’s general election for the presidency in a country that remains deeply polarized, but skeptical of leaders from the left and right who have failed to deliver on improving security and the economy.

Dollar General Q4 Earnings Preview: Revenue, Profit Margins, Tariffs In The Spotlight

Dollar General is set to release its fourth-quarter financial results ahead of Thursday's opening bell. Here's a look at what to expect in the report.

Crypto Does WHAT to Retirement Accounts? - Ad

If you're thinking about retirement... THIS is what crypto does to retirement accounts. Best-selling author and hedge fund manager James Altucher reveals the details.

Japanese automaker Nissan's chief executive steps down after dismal results

TOKYO (AP) — Japanese automaker Nissan Motor Co.'s chief executive, Makoto Uchida, is stepping down after the company reported dismal financial results.

Incyte Releases Mixed Data From Late-Stage Opzelura Studies In Skin Disease Characterized By Itchy Firm Lumps

Incyte's Phase 3 TRuE-PN trials show ruxolitinib cream improves itch relief in prurigo nodularis, though TRuE-PN2's primary endpoint fell short.

MicroLED Market Set for Explosive Growth - Ad

Remember when NASDAQ: OLED launched its IPO at $6 and later soared to a peak of $252.69, achieving a remarkable 4,090% gain? Now a new MicroLED innovator with a patented groundbreaking technology and a co-development partnership with a major display manufacturer could enable the mass commercialization of MicroLED displays.

Trump says he'll buy a Tesla to show support for Musk as his company faces financial trouble

WASHINGTON (AP) — With facing escalating political blowback and financial troubles, President said he would buy a Tesla vehicle from his company, an unusual show of support from the president to .

Elon Musk's "Terrifying" $36T Debt Warning--Your Next Move Here - Ad

You and your cash could be caught in the crossfire. But there's a way to prepare. A move many people might not know exists. And you'll be glad once you see it. This IRS provision -- a loophole, if you will -- could help you protect your wealth from inflation and market uncertainty.

Oracle's Q3 Falls Short, But AI Demand Keep Long-Term Outlook Strong Say Analysts

Oracle shares are down after disappointing Q3 results. Analysts maintain ratings, but lower price targets and highlight strong AI growth.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright priceactionea.net
Privacy Policy | Terms of Service