Property Crumble

Dubai's Spectacular Property Projects

Dubai – the home of spectacular building projects and endless property investor speculation has hit the rocks.

Dubai is a centrally controlled city state and run by an unelected prince and his executive team.

We don’t need to enter politics here, simply to see that when the Dubai State backed company declares itself unable to pay the interest on its loans, that this means that Dubai itself – and not some nationalised industry – is in deep financial trouble.

We are looking at the risk of the world’s first Sovereign default in the 2007 inspired banking crisis.

Read more…