Saturday, February 14, 2009
Mid East dark star: Dubai in collapse
Now, like many of the foreign workers who make up 90 percent of the population here, she has been laid off and faces the prospect of being forced to leave this Persian Gulf city — or worse.
It is clear that tens of thousands have left, real estate prices have crashed and scores of Dubai’s major construction projects have been suspended or canceled. One report said 3,000 cars were sitting abandoned at the Dubai Airport. Last month, local newspapers reported that Dubai was canceling 1,500 work visas every day, citing unnamed government officials.
It is clear that tens of thousands have left, real estate prices have crashed and scores of Dubai’s major construction projects have been suspended or canceled. One report said 3,000 cars were sitting abandoned at the Dubai Airport. Last month, local newspapers reported that Dubai was canceling 1,500 work visas every day, citing unnamed government officials.
THIS LINK posted by Joseph Bell : 8:57 AM
