Comments on: Dubai World Strategically Defaults http://www.squarefeetblog.com/commercial-real-estate-blog/2009/11/27/dubai-world-strategically-defaults/ Commercial Real Estate Blog Thu, 11 Mar 2010 07:29:09 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Bobby http://www.squarefeetblog.com/commercial-real-estate-blog/2009/11/27/dubai-world-strategically-defaults/comment-page-1/#comment-3586 Bobby Mon, 30 Nov 2009 18:13:08 +0000 http://www.squarefeetblog.com/?p=3707#comment-3586 No wonder Dubai's Palm Island is vacant. No wonder Dubai's Palm Island is vacant.

]]> By: Joshua http://www.squarefeetblog.com/commercial-real-estate-blog/2009/11/27/dubai-world-strategically-defaults/comment-page-1/#comment-3561 Joshua Fri, 27 Nov 2009 22:53:14 +0000 http://www.squarefeetblog.com/?p=3707#comment-3561 this isnt actually a "default" yet. they are asking for a deference/extension for 6 months. if they dont receive it, then theyll likely default. whats amazing is that it took a couple days for this to make shockwaves (since they said it monday) and that the markets last night were imploding - dow down 250, gold off over 50, dollar up 2 points, it looked like the market was going to retrace hard today. but then the the american markets brought us back from the brink as we invest on the "best black friday in years"!! dubais housing market is off close to 70% (worst in the world) and it shouldnt surprise anyone with they way they just built shit to build it. theyre crazy over there. what i find all the more amazing (not surprising in the least, though) is that while a common man or expat will end up in debtors prison for years over a small credit card balance, the royal faily can default on 50, 60, 80 billion in loans with no recourse. so much for strict islamic law, eh? this isnt actually a "default" yet. they are asking for a deference/extension for 6 months. if they dont receive it, then theyll likely default. whats amazing is that it took a couple days for this to make shockwaves (since they said it monday) and that the markets last night were imploding – dow down 250, gold off over 50, dollar up 2 points, it looked like the market was going to retrace hard today. but then the the american markets brought us back from the brink as we invest on the "best black friday in years"!!

dubais housing market is off close to 70% (worst in the world) and it shouldnt surprise anyone with they way they just built shit to build it. theyre crazy over there. what i find all the more amazing (not surprising in the least, though) is that while a common man or expat will end up in debtors prison for years over a small credit card balance, the royal faily can default on 50, 60, 80 billion in loans with no recourse. so much for strict islamic law, eh?

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