Dubai Properties for Sale - Elysian Real Estate

by Property InDubai Sell Property In Dubai

Dubai to ask for suspension of the operation of a mortgage payment

Dubai's State-owned investment company Dubai World has requested a six-month moratorium on repayment of its loans against his creditors. The company has also asked the company to a large international audit Deloittelta help their balance.

The company behind Dubai's rapid economic growth is less than a 40-billion-euro debt. Dubai World requested a deferral until May of next year, is sokeerannut, according to the experts, the financial markets, because in the last few months has been that the company is able to pay their debts.

The international economic recession hit Dubai Real Estate World and at the same time, Dubai-heavily. The six preceding years were in the country at the time, but the rapid economic growth in the second half of 2008, Dubai's economy began a downward spiral. For example, real estate prices have turned a sharp decline.

According to experts, the Dubai Government is paying the price now for the hard mahtailevasta economic model, which is based on the foreign currency and through construction projects. Dubai is believed to turn into the drive to Abu Dhabi's more conservative sector of the economic difficulties in the economy.

Dubai and Abu Dhabi are autonomous emiraattikuntia, who together with five other Emirate make up the United Arab Emirates.