Abu Dhabi to rescue Dubai real estate crises

The announcement was made last week that Abu Dhabi would pledge some funds to rescue Dubai from going bust. Story of Dubai is an example where the personal preferences for mind-less luxury without any future, were implemented. Experts are scratching their heads to see where they went wrong. Was it bad planning on the parts of the planners and the spenders? And the worst is the part of lenders. Why these wise old lenders failed to see the reason that investment in Dubai is not leading anywhere. And if something happens to financial interests there, there is no guarantee of any type because Dubai does not have an elected responsible government. Dubai seems to be doing its business on the basis of goodwill and promises. These two entities hold very less value when a crisis of size of Dubai hits the ground. So is the case of Dubai. An empire built on the goodwill and promises still require money to run it and that’s the hard fact.

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