Dubai vows to keep building despite global crisis – Telegraph

Louise Armitstead reports on Dubai and the Financial Crisis

“Mohammed Ali Alabbar, a member of Dubai’s executive council and chairman of Emaar Properties, said the emirate’s borrowings amounted to $80bn against assets of about $350bn. He insisted: “The government can and will meet all its obligations.”

……..We’ve been seeing a softening in property prices and that may not be bad. The market was overheated and a correction is a sign of a mature economy…..”

Read more of this article @ the [SOURCE: Telegraph.co.uk – Dubai vows to keep building despite global crisis – Telegraph].

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Damian Holmes is the Founder and Editor of World Landscape Architecture (WLA). He is a registered landscape architect (AILA) working in international design practice in Australia. Damian founded WLA in 2007 to provide a website for landscape architects written by landscape architects. Connect on Linkedin at https://www.linkedin.com/in/damianholmes/