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dubai default makes the commercial RE disaster officialy started

Started by marco_m
about 16 years ago
Posts: 2481
Member since: Dec 2008
Discussion about
coming to a RE developer near you soon! 300 Billion is due in 2010 in the US alone. Dubai who actually has assets (oil) was unable to get 5-10 billion refi'd just to get them through 2011 maturities. basically game over for many developers now. banks arent gonna take the losses.
Response by urbandigs
about 16 years ago
Posts: 3629
Member since: Jan 2006

look out to 2013, i think you get to 1.3trln in cre debt that needs to roll over

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Response by patient09
about 16 years ago
Posts: 1571
Member since: Nov 2008

I always thought the Oil was in Abu Dhabi. The amount oil in Dubai is irrelevant.

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Response by cmtsuk
about 16 years ago
Posts: 100
Member since: Nov 2006

Dubai has almost no oil. Abu Dhabi, the emirate next door, has most of the oil.

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Response by inonada
about 16 years ago
Posts: 7952
Member since: Oct 2008

No oil? Didn't Dubai adopt the slogan "fake it 'til you make it" a few years back?

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Response by truthskr10
about 16 years ago
Posts: 4088
Member since: Jul 2009

Think of Dubai as Abu Dhabi's nephew.
Not really their oil, and though it's in the family getting great support and enjoying many amenities, not exactly in the estate planning.

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