Dubai-ing Everything
Posted By: Dr. Frugal in Currency on 02/07/2008 at 06:26:51
It seems like Dubai is buying just about everything thanks to their massive wealth coupled with an equally appalling (if you're an American) exchange rate. Their latest acquisition was the historic Metropole Hotel and 10 Whitehall Place; until today owned by The Queen herself. Although they went for over $250m I find it frightening the ease that foreign companies can buy cultural symbols. Hopefully the US will hold onto the State of Liberty for a little while longer.
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