Executive sat with Hasni to discuss the repercussions of the Dubai debt crisis on the emirate’s real estate market. E When Dubai World made the debt standstill announcement, what was the immediate effect on the market? Concern about Dubai has been there for the last year or so…[but] this came as a surprise to a lot of people due to the big impact on global financial markets: for example, the share prices in the Far East dropped a good percentage. The news became worse than the reality and that created a negative image of the Dubai market. Questions were raised by potential investors and people who dealt in the real estate market or were planning to participate in the Dubai market. They are more cautious now; they want to see how this is going to turn out. E Will Abu Dhabi’s bailout of Dubai restore confidence in the real estate
