Could It Do A Dubai?

摘要

Sustainable market than Dubai. Its construction will be funded by oil money and it has built up a big cash surplus. In many ways, its banking system is a model for credit-crunched countries - banks are only allowed to lend up to 85% of their deposits and there is very little toxic debt in the system.rnNearly all the projects are for the indigenous population - not expats -so the market is unlikely to go sour for lack of demand. The boom in Dubai and Abu Dhabi has been fuelled by the speculative buying and selling of properties, which can't happen in Saudi Arabia. For a start, foreigners are allowed to own only one home and it takes so long to buy and sell property that bubbles are unlikely to form.