BBC World Business Report: Dubai - One Year On from the Credit Crunch

One year on from the collapse of Lehman Brothers, the BBC is examining the impact of the global recession right around the world. In the Middle East - optimistic predictions that the region would be immune proved untrue. It simply arrived there later. And in Dubai - it was real estate that bore the brunt. With falling property prices and a shrinking population, the impact is being felt right across the economy as Ben Thompson now reports from Dubai

Category:

News & Politics

Tags:

• bbc
• world
• news
• middle
• east
• business
• report
• dubai
• uae
• jebel
• ali
• village
• ben
• thompson
• property
• real
• estate
• collapse
• slump
• lehmans
• impact

[trigga1uk]

thats a real shame, those houses seemed quite pleasant. Its insulting to evict people and not even build the place.

[Bendarunt21]

Sorry, but I did say that i study meterology, therefore i do know what im talking about... your the one that is wrong im afraid. Im not saying your talking nonsense but, you cant argue with me on this.

[saeein]

No offense but i also live in UAE. The temperatures do go upto 50degrees celsius. The reason is that the law also states that after 52 the labor is not allowed to work. In addition, the humidity goes upto 90 percent for sure. If you have any website to verify the previous records then I assure you this will be the case. Good luck.

[ananiasacts]

I think the problem is that instead of asking himself 'What can I build here that will induce the worlds smartest people and most promising industries to wish to do their work here' Rashid wanted to know what he could build that would most glorify his leadership and nation. Maybe glory isn't something you can simply purchase.

[Bendarunt21]

It has Loads of atractions! So many that I can't be bothered to list them all.

[jimjaas]

Dubai has no attractions. It is a hole in the sand that was over hyped.

[Bendarunt21]

Handy that I study meterology, so I can tell you that The average summer high is 39C so your "50C" is an exagerration especially when you include the fact that th hottest temperature recorded on earth was 56C. I can also confirm that if humidity was 100% at that temperature (which is impossibe) the heat index would be close to 100C and people would simply drop dead in the streets. Humidity is normally very low unless the wind brings in damper air, so it is usually feels ok, evenings are lovely.

[znasser1]

Tourism normally peaks summer times between June and Septmeber when schools are closed and travel increases. Who in his right mind would go on a vacation to Dubai when it's close to 50 degrees and 100% humidity?

[Bendarunt21]

Dubai will bounce back, it's atrractions draw in tourism and investment, we'll just have to wait for property prices to rise...