Luxury Real Estate News 30/11

The big “news” this week is obviously the Dubai situation, although we would hesitate to call it “news,” as the Dubai bubble has been obvious for some time and Dubai’s $80 billion default is just the icing on the cake. The only real surprise (to some) is Abu Dhabi’s seeming unwillingness to bail out their smaller sister. I have sneaking suspicion this is just a game on the part of Abu Dhabi and a rather large sum will be forthcoming – with strings attached. The last bail out from Abu Dhabi came with a lot of strings that has seen the Burj Dubai still unfinished and I gather that there was a requirement or “penalty” to leave it empty for a year.

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