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Real Estate Bubble and Financial Crisis in Dubai: Dynamics and Policy Responses

Real Estate Bubble and Financial Crisis in Dubai: Dynamics and Policy Responses Dubai experienced one of the world's most massive real estate bubbles in 2003-2008. This paper examines the dynamics of this bubble. There are several key questions. What were the multiple drivers of Dubai's bubble? What was the impact of the global financial and economic crisis of 2007-2009 on Dubai's economy during the bust? Why has the restructuring of Dubai World's debt and of its real estate companies been a core strategic component of Dubai long-term recovery? Drawing on past international experiences, what are the public and private actions needed to restructure Dubai's real estate sector? How effective have these measures been so far? What are the prospects for rebalancing Dubai's economy away from real estate? http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Real Estate Literature Taylor & Francis

Real Estate Bubble and Financial Crisis in Dubai: Dynamics and Policy Responses

Journal of Real Estate Literature , Volume 20 (1): 27 – Jan 1, 2012

Real Estate Bubble and Financial Crisis in Dubai: Dynamics and Policy Responses

Journal of Real Estate Literature , Volume 20 (1): 27 – Jan 1, 2012

Abstract

Dubai experienced one of the world's most massive real estate bubbles in 2003-2008. This paper examines the dynamics of this bubble. There are several key questions. What were the multiple drivers of Dubai's bubble? What was the impact of the global financial and economic crisis of 2007-2009 on Dubai's economy during the bust? Why has the restructuring of Dubai World's debt and of its real estate companies been a core strategic component of Dubai long-term recovery? Drawing on past international experiences, what are the public and private actions needed to restructure Dubai's real estate sector? How effective have these measures been so far? What are the prospects for rebalancing Dubai's economy away from real estate?

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References (3)

Publisher
Taylor & Francis
Copyright
© 2012 American Real Estate Society
ISSN
1573-8809
DOI
10.1080/10835547.2012.12090313
Publisher site
See Article on Publisher Site

Abstract

Dubai experienced one of the world's most massive real estate bubbles in 2003-2008. This paper examines the dynamics of this bubble. There are several key questions. What were the multiple drivers of Dubai's bubble? What was the impact of the global financial and economic crisis of 2007-2009 on Dubai's economy during the bust? Why has the restructuring of Dubai World's debt and of its real estate companies been a core strategic component of Dubai long-term recovery? Drawing on past international experiences, what are the public and private actions needed to restructure Dubai's real estate sector? How effective have these measures been so far? What are the prospects for rebalancing Dubai's economy away from real estate?

Journal

Journal of Real Estate LiteratureTaylor & Francis

Published: Jan 1, 2012

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