Dubai property market faces pressure - 07 Oct 08

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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.

Channel: News & Politics
Uploaded: October 7, 2008 at 3:50 am
Author: AlJazeeraEnglish

Length: 0:02:39
Rating: 4.70
Views: 7,083

Tags: dubai property economy crisis middle east hashem ahelbarra aljazeera

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Video Comments:
sirio78 (Tuesday 28th of October 2008 05:27:56 PM)
Any person who thinks Dubai is the result of free market forces is completely wrong. In Dubai, oil has been the foundation of growth because despite having just a fraction of what neighbouring Abu Dhabi has, the vast majority of the money flowing into Dubai comes from oil sources. Dubai is a state ruled to a large degree by one person. The state = Sheikh = State Planning = Dubai Holding = Tatweer = Emaar = Emirates = Everyting in Dubai.
002eden523 (Tuesday 7th of October 2008 09:25:39 PM)
i wonder when oil run dry, what happen to dubai then?? goodbye dubai!!!???
envsh03 (Tuesday 7th of October 2008 01:18:22 PM)
Pakistani labour is not forced to work in Dubai. They go there voluntarily -for $1 a day! So you have to be fair and not try to blame other people, for your misfortune!
orangepolyester (Tuesday 7th of October 2008 07:41:23 PM)
That's monstrous. They earn $1 a day while their bosses earn millions. They live & work in horrible conditions and often don't get paid. They're trying to escape poverty, and Dubai's bloodsucking capitalists take advantage of their misery to exploit them. The parasitic elite of Dubai don't create wealth: the immigrant workforce does. The Pakistanis should rise up and take back what's theirs.
Raindropingstorm (Wednesday 15th of October 2008 01:38:22 PM)
1$ a day? I don't think so... I know a man, who is Pakistanish and works there as designer... And he earns really good money there... I don't know exactly but 200$ a day minimum...
ikran2007 (Tuesday 7th of October 2008 11:04:44 AM)
that what they gr=et for trying to belike the west greed
jacknapier26 (Tuesday 7th of October 2008 06:02:44 AM)
that must explain why Darth Cheney moved all his assets over there.
PauloGVieira (Tuesday 7th of October 2008 04:37:36 AM)
In 10 years time Dubai will be a white elephant. No rational human being can deny that this sort of development is not sustainable.
jacknapier26 (Tuesday 7th of October 2008 06:02:57 AM)
probably much, much sooner than that.
q3bi (Thursday 16th of October 2008 06:47:36 AM)
You do not know how it works Dubai. Dubai is not a Banana Republic