Posted by: Armel | November 29, 2009

DUBAI: is it over ?

After huge building projects  fueled growth in the emirates, recent events suggest the stalling in construction might signal the end of the boom.

After moving from a regional trading center to a global business capital with a large inflows of human capital, Dubai is now struggling to keep up with the growth recorded over the last decade. As of last week, the Government of Dubai was attempting to renegotiate billions of dollars of accumulated debt,  and asking Financial Institutions to suspend some interest payments coming due soon.

The bulk of the growth decline can be linked to real estate extra-large construction projects such as the World Islands, but can other sectors like tourism create alternate growth opportunities? If not, then it will really be over !



  1. Its WonderFul Post, Excellent work, keep it up

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