Zirve Eki - ISTANBUL REstate

16-17 Haziran 2010
who does not believe or who is not there for a long term, they are
already gone. And this the best time for anybody to come and to
invest in Dubai, because the hard work is already finished. The
hard work is done. If any company at first today will go in Dubai
and will establish a business in Dubai you will get the fruit of all
very nice infrastructure, telecommunication, banking system, nice
road, metro, nice hotel. You will get the juice of everything. You
will not be like living in the city and facing the rush hours or the
traffic jams already. No. Those problems are already been solved.
So this is the best time to go and launch a new business there.
Ahmet Kayhan: When we look at here, somewhere around
here, the heart has stopped. Right? Right before the Burj Halife.
Marwan Bin Ghulaita: Yeah, but look at the chart...
Ahmet Kayhan: I know. It stopped. There is life in it and there
is hope in it. It was a very handsome body, okay? We need to
make it alive. And there are two shocks we give, two electric
shocks. One was the 10 billion dollar bond. It showed that globally
people believe in it, Chinese invest. Right? Dr. Mosab, you saw all
those Chinese invest. They are giving their money. Now, I am going
to ask you first. Second, Abu Dhabi, Abu Dhabi came to help. And
I talk to everyone here, I sure everybody is asking what is the Abu
Dhabi's role. What happened? What Abu Dhabi - that 10 billion
dollar came in exchange of what? How it helped Dubai? What
was the angle?
Marwan Bin Ghulaita: As I said, Dubai is part of UAE. And
the government commitment for Dubai vision, it is not only Dubai
vision. It is the whole UAE vision. So the bonds, the bail out of
somebody will call it, this is all a belief and the support that Dubai
will have from the federal level. Dubai growth or Dubai model, let
me call it, it is the whole region model Ahmet. You cannot look
at. If Dubai fails, believe me the whole region will fail. That is why
everybody was supportive of Dubai. Do not look at the negative
media that was coming on the air. But this is a cycle in any business
that is going to happen that goes up, comes down. But it depends
on the measure that the government will take to do it. And the
Dubai government plays a very critical and supportive measure to
do it. Today if you look at Nahil crisis, where the Dubai government
Gayrimenkul Zirvesi 10
step in and they are solving most of the issue. Yes, it is going to
take time to be solved but at least the government is showing
support. The government of Dubai, when they said and they
announced that they support of all local banks, they support of all
fixed deposits in the banks. None of the government do that.
Ahmet Kayhan: We will come to that. I am going to ask you
more in that. Doctor? Where do you see? Do you agree with
Marwan on that? And how do you see it?
Mosab AlJassim: Crisis, in my opinion, is opportunity and what the
crisis, the outcome of the crisis actually for us as investors has
created a lot of opportunities in different fields and sectors. And
cleaned up the scene from non-serious investors. So we have a
healthier environment. We have less competition. We have plenty
of other opportunities. Now, if you think about Dubai isolated from
the whole region, then you are mistaken. Dubai is part the whole
region and if anyone today wants to cater to any business in Saudi
Arabia or in Qatar or wherever in the Gulf, Dubai is the best hub
for him and this is what we are doing. I mean today we are and
everyday we are receiving a delegate from abroad and we are
talking about different opportunities that are mature and attractive
more than before. And a couple of days back, I came from China
and when I say Dubai everybody is like "wow, we want to be there.
How can we be there? Is it the right time?" Yes, it is the right time.
For us as investors, because the laws and regulations are in place,
because the opportunities are there. I believe this is the right
opportunity for us to be there in Dubai and benefit from this and
take the advantage.
Ahmet Kayhan: One thing I wanna hear from your perspective,
from Marwan, is that, of course, when it happened, when Abu
Dhabi happened, when all these happened, you were sitting in a
very hot seat. You are still sitting on a hot seat but it is cooler now.
And you did a lot of things as the government, starting for instance,
as you mentioned that. A wise friend of mine told that in order to
solve the crisis once, in order to crisis that once we have be transparent
and trust and professionalism. And that wise man is just here. So,
I am going to ask you that what did you do to bring that 20 minutes
of registration? How did you give that confidence for people to
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