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Peter Thiel, head of Clarium Capital Management LLC and founding investor in PayPal Inc. and Facebook Inc., speaks during the LendIt USA 2016 conference in San Francisco, California, U.S., on Tuesday, April 12, 2016. Thiel discussed his outlook for the tech industry. Photographer: Noah Berger/Bloomberg *** Local Caption *** Peter Thiel
VC Peter Thiel Says Just About Everything Is Overvalued, Not Just Tech
The sun sets beyond oil pumping units, also known as nodding donkeys or pump jacks, at an oil plant operated by MND AS in Uhrice, Czech Republic, on Monday, March 23, 2015. Oil rose as the dollar weakened for a third day, making commodities priced in the U.S. currency more attractive to investors.
Emaar Properties PJSC plans to build a $1 billion skyscraper in Dubai that will exceed the height of the Burj Khalifa, currently the world’s tallest building.

The tower within its Dubai Creek Harbour project will be “a notch taller” than the 828-meter Burj Khalifa, Chairman Mohamed Alabbar said at a press conference on Sunday, declining to be more specific. Construction will start at the end of June and will finish before Dubai hosts the World Expo in 2020.

“We wanted to build a new landmark for Dubai,” Alabbar said. “When we look at Downtown and the Burj Khalifa, the area is almost full to the rim.”

Dubai, the Gulf’s tourist and business hub, is developing hotels and entertainment projects as it aims to attract 20 million tourists annually by 2020 from 10 million in 2012. Emaar’s new tower will have an observation deck, gardens and 18 to 20 floors available for shops, restaurants and other tourist facilities, Alabbar said. The project will be financed by 50 percent of equity and 50 percent of debt.

Source :Bloomberg

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Iran is planning to build two million housing units in Algeria by 2019, says an official with Trade Promotion Organization of Iran. Mahmoud Eskandari added that the UN-Habitat (United Nations Human Settlements Program) will oversee the ambitious project.   Six Iranian contractors have implemented water, electricity, gas, dam building and power plant projects in Algeria over the past few years, IRNA reported. Headquartered in Nairobi, Kenya, UN-Habitat works with organizations at every level, including all spheres of government, civil society and the private sector to help build, manage, plan and finance sustainable urban development.

 

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