Dubai property market faces pressure - 07 Oct 08

A Dubai government firm has announced plans to build a $95bn city in the emirate - which will include the world's tallest tower.

But investors are concerned that the property bubble in Dubai could burst, amid concerns over the long-term performance of financial markets in the Middle East.

Hashem Ahelbarra reports.

Category:

News & Politics

Tags:

• dubai
• property
• economy
• crisis
• middle
• east
• hashem
• ahelbarra
• aljazeera

[PauloGVieira]

In 10 years time Dubai will be a white elephant. No rational human being can deny that this sort of development is not sustainable.

[orangepolyester]

That's monstrous. They earn $1 a day while their bosses earn millions. They live & work in horrible conditions and often don't get paid. They're trying to escape poverty, and Dubai's bloodsucking capitalists take advantage of their misery to exploit them. The parasitic elite of Dubai don't create wealth: the immigrant workforce does. The Pakistanis should rise up and take back what's theirs.

[jandean61]

WESTERN BANKS= NWO

[Ryan39551987]

Dubai will bubble eventually. There sitting ducks for failure. To much to fast!

[vytlek]

Maybe its good.. Banks are not lending, lots of free space, perhaps we will get it for free?

[aazarinni]

UAE needs to be boycotted the way aparthied South Africa was shunned, this filthy lawless country has a culture of labor oppression,conman transacting,pedolphia,kidnappi ng of children, human trafficking, forced prostitution and manipulation of the weak, there are many other better places to invest and do business than the emirates whose people are closer to wild animals than to human beings

[lcarsnet]

Search for: "Report: UAE Ruler's Half Brother in Torture Tape"

[felexmar]

i lived & worked in Dubai as professional. Yup, I earned pretty much higher than my home country, however, because of high stanadard of living, I have to adjust lifestyle to save. Dubai not godd place for savings. I beleive its gonna burst soon.

[kapena1775]

dubai does not run on oil, it's going to try to try to support itself in finance and real estate... for now its being supported and bail-out by its country oil.