In response to criticism Dubai will collapse i consulted a friend who works in the property market over there. comments were:
Ø The Middle East has 40% of the world’s cash reserves.
Ø All bank loans have been secured by the Dubai government for a period of 3 years at any level.
Ø Abu Dhabi have the worlds largest sovereign wealth fund and will support Dubai in the face any financial trouble.
The list goes on… Tax free living in the sun… Tax free business… Solid population growth… Benefit of slave labor…
dubai
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