Dubai investments shown to be built on sand

Landlords who have been watching the property miracle in Dubai unfold with amazement and bewilderment as I have may be unsurprised at the latest developments in the tiny Gulf state.

I know I'm only a simple landlord, but I do understand that to have a successful property investment you need tenants. This was the bit I never quite understood from the Dubai proposition. It seemed to me that the only occupants to the shiny new builds were the workers building the buildings that would then one day find occupants.

Unfortunately, when the building stops and the builders and tenant go home- it's the emperors new clothes syndrome. Actually there are no tenants and no occupiers - just lots of lovely shiny buildings in a desert!

I'm glad that I stuck with my gut instincts on this one!

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