Saturday, October 17, 2009

Dubai One Year On from the Credit Crunch and the Bubble Burst

Dubai one year after the Bubble Burst

One year on from the collapse of Lehman Brothers, the BBC is examining the impact of the global recession right around the world. In the Middle East - optimistic predictions that the region would be immune proved untrue. It simply arrived there later. And in Dubai - it was real estate that bore the brunt. With falling property prices and a shrinking population, the impact is being felt right across the economy as Ben Thompson now reports from Dubai

bbc world news middle east business report dubai uae jebel ali village ben thompson property real estate collapse slump lehmans impact