The money dried up, but at least Dubai’s celebrity investors are not left out of pocket - Middle East - World - The Independent:
"Dubai will liquidate many of its building projects and use the money to pay off investors, who are thought to include the Hollywood star Brad Pitt and footballers David Beckham and David James, it has been reported.
The state news agency WAM said ruler Sheikh Mohammed bin Rashid Al Maktoum had ordered a committee to be set up to look at the emirate’s building bubble, which encouraged huge funding but was followed by huge losses when it burst. Many developers withdrew from the city when prices more than halved and a lot of their customers have never received the properties they paid to be built.
Among the projects that remain little more than building sites more than four years after the crash is Dubai World, a complex of islands arranged to resemble the world’s seven continents."
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