Crypto Stocks Are Heating Up

At the center of this transformation is a game-changing platform that's experiencing explosive growth with $41 million in revenue in just nine months. The stock has doubled in the last 45 days, but this is only the beginning.

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

China's factory activity contracts in January for the first time in 4 months

HONG KONG (AP) — Manufacturing slowed in China in January for the first time in four months as workers began leaving assembly lines to travel to their hometowns for Lunar New Year holidays.

Starbucks reports better-than-expected quarterly sales as turnaround efforts begin

on Tuesday reported better-than-expected sales in its fiscal first quarter as some of its turnaround efforts start to take hold.

Critical Metals: The Linchpin of the Energy Transition - Ad

As EVs and AI take center stage, critical metals like copper, nickel, and PGMs are becoming the linchpin of clean energy and technological advances. One Canadian company's high-grade polymetallic discovery in Quebec is drawing comparisons to Russia's Norilsk Mine--one of the richest deposits globally. Backed by industry titans, this story is just beginning.

Trump Ends Anthony Fauci's Security Protection: 'They Can Hire Their Own Security'

President Trump has ended security protection for Dr. Anthony Fauci, the White House's former top medical advisor.

Putin Agrees With Trump: Ukraine War Avoidable if Trump Had Been in Office

Vladimir Putin has supported the claim made by President Trump that the conflict in Ukraine could have been prevented if Trump had been in office in 2022.

Get Your Retirement Plan in Shape in 2025 - Ad

The clock is ticking -- make the most of Q1 to set up a retirement plan that works for you. Datalign Advisory can help you get everything in order before tax time.

IMF sees steady global growth, but warns that Trump tariff, tax and deportation plans cloud outlook

WASHINGTON (AP) — The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year. But it warned that the outlook is clouded by President-elect Donald Trump’s promises to slash U.S. taxes, impose tariffs on foreign goods, ease regulations on businesses and deport millions of immigrants working illegally in the United States.

The $20 Stock Powering NVIDIA, TESLA, and Microsoft - Ad

The biggest AI firms in the world... All rely on this single company. And right now, you can get in for only $20 - but not for long.

Elizabeth Warren To Elon Musk: Cut Unnecessary Federal Cannabis Enforcement And Save Billions

Sen. Elizabeth Warren (D-Mass.) sent a detailed letter to Elon Musk, chair of the newly established Department of Government Efficiency (DOGE) with numerous suggestions for slashing federal spending.

Cathie Wood's Ark Invest Is Betting Big On This AI Darling And No It's Not Nvidia

Ark Invest made significant trades involving Tempus AI, CRISPR Therapeutics, UiPath, Roblox, Reddit, Accolade, and Ibotta. ARKG and ARKK funds bought shares, while ARKW and ARKF funds sold shares.

Elon Musk's Critical Metals Warning: What Investors Need to Know - Ad

Elon Musk has repeatedly warned about the looming critical metals crisis, calling materials like nickel, copper, and PGMs essential to Tesla's future. One Canadian discovery in Quebec is drawing comparisons to Russia's Norilsk Mine and has the potential to reshape global supply chains. With heavyweight backers and a fully funded exploration plan, this opportunity demands attention.

Meta Earnings Preview: AI-Driven Ads, eCommerce Gains, And Capex Surprises Ahead?

Post suggests Meta could benefit from eCommerce sales and strength in shopping ads, as well as improving AI models for ad targeting.

Fast food is a staple of American culture, but some of its workers struggle to survive

FRESNO, Texas (AP) — The only moment TiAnna Yeldell has to herself is when she’s sleeping, and that doesn’t happen much.

Get Your Retirement Plan in Shape in 2025 - Ad

The clock is ticking -- make the most of Q1 to set up a retirement plan that works for you. Datalign Advisory can help you get everything in order before tax time.

Nvidia, Apple-Supplier TSMC Halts Production As 6.4 Magnitude Earthquake Strikes Taiwan

A 6.4 magnitude earthquake struck southern Taiwan early Tuesday, forcing Taiwan Semiconductor Manufacturing Co. to evacuate facilities in a region critical to global chip supply, marking the second significant seismic event to impact semiconductor operations in recent months.

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

FACT FOCUS: A look at false and misleading claims Trump made during his inaugural address

In his first address after being on Monday, President Donald Trump repeated several false and misleading statements that he made during his campaign. They included claims about immigration, the economy, electric vehicles and the Panama Canal. Here’s a look at the facts.

What are tariffs and how do they work?

WASHINGTON (AP) — Tariffs are in the news at the moment. Here's what they are and what you need to know about them:

Stunning Trump Exec Order Leaked - Ad

This secret document contains stunning details about Donald Trump's big Day 1 announcement... His allies are calling it Trump's Secret Manhattan Project. Because if what's in this leaked document is even half true (and trust me, it comes from a very, very credible source)... It will be the boldest, most mind-blowing and daring American initiative ANY U.S. President has launched in over 80 years. And over the next 100 days, it could set off a huge dose of "Trump Market Euphoria"... igniting a buying frenzy in very specific AI stocks... unlike anything we've seen so far.

How The Adviser Shortage Creates An Opening For Independent RIAs

Assets managed by advisers continued to grow in 2023, hitting a record $31.3 trillion, according to a new report from Cerulli Associates.

Yemen's Houthis signal they'll limit their attacks in the Red Sea corridor to Israeli ships

DUBAI, United Arab Emirates (AP) — have signaled they now will limit their attacks in the Red Sea corridor to only Israeli-affiliated ships, just as a ceasefire in the Gaza Strip entered its second day Monday.

The DOGE Agenda (Eight Stocks to Buy) - Ad

Every investor in America is trying to figure out what Musk will do in Washington, D.C. in the coming weeks.

Elizabeth Warren Lists Changes For Elon Musk's DOGE Department, Urges Guantanamo Closure Due To 'Hundreds of Millions' In Annual Costs

Senator Elizabeth Warren (D-Mass.) presented strategies to tech mogul Elon Musk on Thursday on how the newly formed Department of Government Efficiency could potentially cut government spending.

Why is Spain considering a 100% tax on homes bought by non-EU residents?

MADRID (AP) — Spain is planning a raft of measures to address its , including an up to 100% tax on properties that non-European Union residents buy.

Love or Hate Him -- You Have To See What Elon Could Do Next - Ad

It's not electric vehicles, green energy or space travel that Elon Musk will be remembered for.

Puerto Rico natural resources chief grilled over order to shelve probe targeting governor's in-laws

SAN JUAN, Puerto Rico (AP) — Puerto Rico senators grilled the island’s newly designated natural resources chief on Tuesday after critics rebuked into allegations of illegal construction in a protected area.

How to Invest in Trump's Crypto Revolution with Just $25 - Ad

Since Donald Trump was elected, Bitcoin has soared to over $104,000. That's a six-figure price tag -- PER COIN! But there's a much less expensive -- and better way to take advantage of Trump's crypto revolution. I'm talking about a way to make huge gains with just $25. But you need to be fast.

Amazon to close 7 warehouses in the Canadian province of Quebec and eliminate 1,700 jobs

Online retailer Amazon said Wednesday that it's closing all seven of its warehouses in the Canadian province of in the next two months.

Dating Coach Shares Why She Walked Away From a Deal With Mark Cuban

The CEO of online dating coaching company Dating by Blaine has detailed why she declined an offer from billionaire Mark Cuban after initially accepting the deal on "Shark Tank."

Time for Financial Planning? Get a Free Match-Up with a Trusted Advisor! - Ad

Face the new year with confidence - work with a trusted advisor who can help you make smart decisions for your financial future. Datalign Advisory is here to guide you to a trusted advisor who can help every step of the way.

SoftBank's Role in $500 Billion Stargate AI Venture Seen as Major Growth Driver, Analyst Says

Trump Administration announced Stargate AI infrastructure joint venture, investing $500 billion over 4 years. SoftBank, Oracle, OpenAI, and Abu Dhabi's MGX involved.

Trump's Plan To End $7,500 EV Tax Credits Could Be 'Devastating' For Tesla Rivals, Poll Says Could Be Bullish For Elon Musk's Company

If the $7,500 EV tax credit is eliminated, investors and analysts will question the impact on companies such as Tesla. A poll shows that the plan could be good news for Tesla.

Legendary Investor: Buy These "Trump Stocks" Now - Ad

Within the first week of Trump's election, several stocks exploded for double- and triple-digit gains. According to legendary investor Louis Navellier, this is just the beginning of what could be the best four-year period for stocks in U.S. history.

Biden warns the US risks becoming an 'oligarchy.' What does the term mean?

WASHINGTON (AP) — President in his Wednesday farewell speech to the nation warned that American democracy was sliding into an “oligarchy” of tech billionaires. But what exactly is an oligarchy?

Italian bank Mediobanca rejects takeover bid by domestic rival Monte dei Paschi

MILAN (AP) — Italian bank Mediobanca on Tuesday rejected a attempt by domestic rival Monte dei Paschi di Siena.

January 28th: Gold SHOCK? - Ad

On January 28th, an event is taking place that could completely shock the market. Stocks could go ballistic... Businesses could get blindsided... The gold market could get rocked... And one man, millionaire trader Jeff Clark is pounding the table on one single stock before this event.

Hutchinson Maintains Buy Rating On Bath & Body Works, Sees Continued Growth

Bank of America analyst Lorraine Hutchinson reiterated a Buy rating on Bath & Body Works and maintained its $45 price target.

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 traderelite.club
Privacy Policy | Terms of Service