Land speed record for the UAE
A question pretty much everyone has asked themselves is, if I won the lottery or suddenly inherited millions, what would I spend it on?
Investing in property is a sensible start. Maybe a villa in the Bahamas, a city pad, and a cottage in the country takes your fancy. You would be unlikely to be able to tie all this up in a single day and, unless you land three palaces, you’d probably still have change for an ice cream and bottle of bubbly left over.
Nearly £30m on land in a day
However, via a combined effort, developers and property investors managed to blow a staggering £29.61 million on land alone in the UAE on Wednesday this week. According to the news agency WAM (no known relation to George Michael) this is a record for how much has been splashed on real estate there in a single day.
When we say land, remember we are just talking about land, albeit beside a picturesque beach in some cases. That is a staggering amount of cash in a day by anyone’s standards.
So in the tradition of true, careful, professional analysis, lets see what you else you could easily spend that much on in 24 hours.
‘290 new Aston Martins’
A total of this magnitude will get you about 600,000 cases of Virgin Wines’ ‘Discovery Club’ wine mixes, or about 290 new Aston Martin DB8s. The difference? Not all wine gets better with age and do you have any idea what the depreciation is on an Aston? While it may seem mental, splashing that cash on land alone is a sound investment. Let’s not shake our heads too hard.
Technorati Tags: real estate, real estate investment, property, property investment
