Dubai property market near collapse

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The property bubble in Dubai, the business hub of the United Arab Emirates, is bursting as investors start to dump assets.
The current financial crisis which has resulted in scarce credit and slumping oil prices has forced international financiers to dump assets in Dubai city.

"If the property industry collapses in Dubai, it will be finished. Dubai's relative autonomy will come to an abrupt end," added Davidson, the author of "Dubai: The Vulnerability of Success.

He added that Dubai's push into luxury property developments was a mere diversification on "paper sand".

Category:

News & Politics

Tags:

• world
• dubai
• emirates
• nakheel
• UAE
• persian
• gulf
• palm
• the
• artificial
• island
• sea

[WolYou]

America is also shit. Nothing but cardboard houses or skyscrapers. No culture (except consumption and profit) and lots of retarded people and crime.

[norman1102]

Its not the Job of Dubai government to feed you if you made a bad investment, if you are not wise enought with your investment decisions, and put all your money in one place, a real state bubble, you have no one to blame but yourself

[omarbaaghil]

i dont see any wise investments on just building towers, man made islands. and foreign manpower slavery escpically in the middle of a desert where there is no culture and historical civilization.

[daian0205]

Well now i cant work for emirates airline :(

[Gmoney3290]

what a waste of steel and glass

[MentalRevoution]

Atomic Properties

To be the “King of International City”

Address:Shop NO.11&13&20&22,Building NO.B4,China Cluster,International City,Dubai,U.A.E

“I succeed because I willed it; I never hesitate” Napoleon

Hotline: +971 50 1138 312/Tel: +971 4 4474 188/Fax: +971 4 4474 154

[ppwalk05]

@WolYou really? I see that some of your favorite movies are American. Please tell me about the great cultural hotbed that is post WW1 Austria. About your retard problem are you still throwing them into the ovens with the other undesirables?

[MillyVanillification]

@yiminy4567 I'm not sure what the GDP in Dubai comes from? Is there any business there producing BDP except real estate?

[yiminy4567]

According to recent reports Dubai is in debt 107% of GDP. LMAO!!

Abu Dhabi owns your ass.

[JLDoggard]

What's the appeal of visiting somewhere like Dubai that has no history, that has had to create some Disneyfied image out of nothing? I'd rather go to Italy or somewhere else that has real culture and history living side-by-side with contemporary life.

[01111donotdoit]

@MUHAMMADFUCKEDKIDS this is really realy bad to insult like this some body religious figure, change your i.d .