How Does Dubais Debt Impact Real Estate?
Here we go again! Better hang on to what you’ve got because another financial correction of our not quite yet recovered economy is coming. Is it? For many years during the real estate boom, Dubai seemed as a paradise with an indoor ski arena in the middle of the desert and skyscrapers reaching above sand storms or magical islands erupting from the middle of the ocean with dream like real estate on them. Now that the storm started to settle a little bit, the bills are coming in and it’s creating some deer in the headlight feeling form many investors because it’s time to pay. Right now there are more questions than answers at this point. But here is a snapshot of what the big fuss is all about. Dubai currently has an outstanding debt of 80 billion dollars of which 59 billon dollars is directly resulting from the major real estate expansions that they have been over building and bragging about to the west to prove to them that they can build bigger and better real estate… Dubai’s debt p
