Last month, Dubai sent global markets into a swoon after announcing a standstill to debt payments for its flagship corporation, Dubai World. The group said it would seek to restructure $26 billion in debt, including that at two of its property developers, which have been caught in a real-estate crisis. This week, Abu Dhabi stepped in with a $10 billion bailout for the conglomerate, which has helped ease concerns over Dubai's debt levels.
Though a property-price rebound may be years away, real-estate brokers said the international headlines have triggered a bout of interest by bargain hunters.
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