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Park and run

by Executive Staff

The grim reality of the global financial crisis is biting hard in Dubai, especially for the many living beyond their means. Of late, people have taken to measures such as dumping their cars at the airport and fleeing the country, with police having recently removed 22 cars from Dubai International Airport. The National reported that last year 3,241 cars were reclaimed by banks, a 123 percent increase on 2007. Debt collectors report a boom in business as banks ensure loan defaulters do not get away with their “park and run” attempts. The reports of abandoned cars has created a lot of activity in the blogosphere with many living in Dubai blaming the phenomenon on the ease in which you can buy a car. As one blogger said, “It was so easy to buy cars in the UAE no guarantor required, no down payment, pay a minimum of up to 5

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