Dubai Rides Boom With an Eye on Bubble - WSJ.com:
"Last year, when Emaar Properties put a new Dubai residential project on the market, demand was so intense that police eventually had to intervene to control the chaos outside the company's offices.
There has been similar demand for shares of Emaar, which are publicly traded on the main Dubai exchange. The stock of the company—Dubai's largest developer best known for the world's tallest building, the Burj Khalifa—has nearly doubled in value in the past year as investors have looked for a way to participate in Dubai's latest real-estate boom.
The big question now: Will history repeat itself, sending both Dubai and Emaar into another nose dive?
Some already are voicing concern over signs that another Dubai real-estate bubble is in the making. The country's property market famously blew up in 2009, driving some developers out of business. Emaar's shares fell by 90% between early 2008 and the beginning of 2009."
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