asd

Dubai: Issac Banks seeks at trading up from Dh1 coin to villa in Palm Jumeirah

A Dubai-based communications professional, Issac Banks, is attempting to trade his way up from Dh1 coin to a villa on Palm Jumeirah within the time of one year. He is again trying to reinstate the barter system.

A Dubai-based communications professional, Issac Banks, is attempting to trade his way up from Dh1 coin to a villa on Palm Jumeirah within the time of one year. He is again trying to reinstate the barter system.

Banks, aged 33, is from New Zealand and has launched The Dirham Project in late February as a social experiment to test how far a dirham can go.

Advertisement

He stated, “The goal is to go from a Dh1 coin all the way to a house on Palm Jumeirah. This is via a series of trades for all manner of goods and services.”

Banks got inspired by Kyle MacDonald, who is a blogger from Canada. In 2005 MacDonald traded a red paper clip all the way up to a house over the period of 14 trades in one year.

MacDonald made his first trade of a red paper clip in exchange for a fish-shaped pen on 14 July 2005. He achieved his goal of trading up to a house with his 14th transaction by trading a movie role for a home in the small town of Kipling in Saskatchewan province, Canada.

The venture then led him to trade up from a doorknob to a camping stove, a snowmobile, a generator and a recording contract.

MacDonald, meanwhile, got the idea from a game known as Bigger and Better.

He made a website for the project and also promised to visit potential traders wherever they wanted.

Advertisement

As per property consultancy CBRE, The Palm Jumeirah villas are the most costly properties in Dubai at Dh2,776 per square foot.

The rise in wealthy buyer demand pushed lavish home prices up by 44% in prime areas such as Jumeirah Bay Island, Emirates Hills and Palm Jumeirah last year, said, Knight Frank.

Issac Banks first made a trade of Dh1 in exchange for a Dubai keychain.

Till now, Banks has completed over five trades: for the Dh1 coin, he got a Dubai keychain, which he then traded for a Paw Patrol backpack, a Ted Baker laptop bag, then a signed Mercedes F1 hat with Lewis Hamilton and George Russell’s signatures, and now he has traded a jukebox.

Tariq Saeed

Read More

Dubai’s ‘Al Freej Fridge’ Campaign Brings Relief to Outdoor Workers Amid Scorching Summer Heat

Running until August 23, this noble effort seeks to provide much-needed respite to one million workers, including cleaners, construction workers, delivery riders, and agricultural workers

Egypt: Archaeologist uncovers remains of Sun Temple in Matriya region

The Tourism and Antiquities Ministry of Egypt, Middle East, has recently shared an update regarding the discovery of more remains of the Sun Temple in the Matriya region.

Sharjah RTA Implements Speed Limit Reduction on Al Ittihad and Al Wahda Roads

The decision, communicated through a social media post on Saturday, May 25, is part of the RTA's ongoing efforts to mitigate road accidents and maintain orderly traffic in the emirate

Recent

Tibet: China blames for collecting DNA samples of Tibetan young children to change their identity to Chinese

Lhasa, Tibet: The Tibetans have been suppressed under the continuous authoritarian regime of China as the monitoring is becoming challenging with every passing day in the region. 

PM Narendra Modi leads transformative railway connectivity in Jammu-Kashmir

For years, Jammu-Kashmir lagged behind other parts of the nation in railway connectivity, but with the Bharatiya Janata Party's leadership at the federal level, tremendous progress has been achieved in tying the region to the rest of the nation.

Dubai Unveils Ambitious Jebel Ali Beach Development Project, Set to Redefine Public Recreation

Dubbed as a pivotal component of Dubai's 2040 Urban Master Plan, the Jebel Ali Beach Development Project promises to revolutionize recreational offerings by significantly expanding public access to pristine waterfront areas
admin