Independent Thoughts [alnaim.com]

Follow the path of the unsafe, independent thinker. Expose your ideas to the danger of controversy. Speak your mind and fear less the label of "crackpot" than the stigma of conformity. -- Thomas J. Watson, Sr.

Wednesday, December 21, 2005

Saudi Arabia to build new city for 26 bln USD

Despite the difficulties that Saudi Arabia has put Emaar through to be able to invest in this project (which is typical, but stupid nonetheless) it seems that they finally pulled it off. Full Article

posted by Abdulaziz Alnaim @ 12:43 PM    

5 Comments:

  • At 12:12 PM , i.w.t.l.w said...

    why do u think its stupid??

     

  • At 1:20 PM , Abdulaziz Alnaim said...

    Ok, someone comes to you and says I will invest SR100B with you and all you have to do is say "sure, go ahead", but you don't, you say "No, I don't want all your money, i just want SR70B and i'll put the rest myself, I know this project is good for the economy, but I don't want you to take all the risk, I want to risk my money too!" bottom line, you should never tell someone "i don't want your money invested here", if you have extra money that you want to invest, go do some other project because in the end, it is the local economy that will benefit the most from the project, far greater than the return on that investment bease projects like these promote economic activity around the project's area and the economic gain from that is much, much greater.

     

  • At 7:28 PM , i.w.t.l.w said...

    So basically your only objection is regarding the wasted 30 SR?

     

  • At 7:30 PM , i.w.t.l.w said...

    30 sr= 30b sr

     

  • At 11:46 AM , Abdulaziz Alnaim said...

    Well, yeah, the money (SAR30B is a lot of money that could be invested in other projects in Saudi) and the principle!

     

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