Billion Pound Dubai Property Scandal, Who’s to Blame?

Conservative estimates put the amount of money hanging in the balance in Dubai’s property scandal at around one billion pounds. This is the figure that investors have already allegedly committed to property schemes and ventures that have yet to come to fruition, with one fifth of this sum already having been paid out to potentially less than scrupulous developers.

But in terms of the billion pound Dubai property scandal, who is actually to blame? Was it the greedy speculators who bought and flipped and pushed the value of property through the roof, was it the over ambitious developers, or perhaps we should actually be blaming the government for failing to put adequate controls in place to prevent the boom and subsequent bust?

In this report into the billion pound property scandal we look at who’s to blame in the latest disaster story emerging from Dubai…