BBC World Business Report: The Changing Face of Cityscape

[ananiasacts]

Ultimately, I think the value of real estate is a function of the integrity of the underlying government. That's the challenge Dubai faces. I doubt they can instill the kind of confidence in foreign (or native) ownership it takes to give much weight to a property's future earnings potential. Dubai's mistake was to spend money attracting the least skilled temporary citizens, rather than the most skilled permanent citizens by building universities and research parks too irresistible to pass up.