Monday, April 12, 2010

Dubai Will Eventually Fall Back Into The Sea

Dubai’s $330 Billion Deferred Buildings Impose Fees

Those Dubai islands will eventually sink back into the sea. Suckers still lining up for the slaughter.

Silvia Turrin paid two-thirds of the $520,000 purchase price of her Dubai apartment, only to learn that it won’t be finished until 2012, two years late. When she stopped payments to Emaar Properties PJSC, the developer hit her with late fees.

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