Investor Notes · Written analysis

The archive.

Every Investor Note Raj has published. Live editions stay open; closed editions remain accessible to subscribers. In-research entries are positions being studied before they get written.

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The waterfront premium, read by a planner

A waterfront premium is durable only when access, frontage and supply are structurally scarce — not when the view is merely nice.

June 2026
6 min read

Buying an island before it exists

On a new island, your return is governed less by the headline price than by which phase you're in and what gets delivered around you, when.

May 2026
7 min read

The case against, in writing

If a brief never argues against its own deal, it's marketing — the case against is what makes the rest of the read trustworthy.

May 2026
5 min read

Pipeline

In research · June 2026

Dubai 2040 — reading the master plan as an investor

Which districts the Dubai 2040 Urban Master Plan compounds, and which it doesn't.

In research · June 2026

Hudayriyat Golf Estates

Early-phase masterplan entry on a sovereign-developer island warrants a separate read from mature comparable products.

In research · June 2026

Palm Jebel Ali — the re-rating

The right comparable for new-cycle Palm Jebel Ali is Palm Jumeirah at equivalent phase — this Note will quantify that.

In research · June 2026

Wynn Al Marjan — yield disruption

An integrated-resort opening reshapes adjacent rental and yield economics — and this Note examines how.

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