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As Dubai property market collapses, Britons lose savings


The global economic meltdown, which has adversely affected the once booming real estate market of Dubai, has brought some bad news for the Britons who invested hundreds of thousands of pounds in unbuilt property during Dubai's flourishing years as they now seem to be losing all their money following the rapid correction in the market.

For 800-strong group of investors, hundreds of millions of pounds are at risk. These individuals had put deposits on holiday flats to property brokers.

Petrofac witnesses good start to the year

Petrofac witnesses good start to the year

It has been revealed by Petrofac Limited in its Interim Management statement for the period from 1 January 2009 to 15 May 2009 that a good start has been made by the company for the year.

Furthermore, the company is confident that 2009 will be another year of strong growth.

£250,000 paid by Sheikh for Household Cavalry to fly to Abu Dhabi

Sheikh for Household Cavalry

30 members of the Household Cavalry along with their horses seem to have landed safely in UAE. At a cost of A£250,000, a group of billionaire Arab sheiks have offered to pay for them to fly to Abu Dhabi and perform for him.

The Musical Ride that will stay at one of the country's top hotels, at his expense, would travel on business-class flights.

ATM Kicks Off Today

The importance of the Middle East in reviving the global travel and tourism industry beset by a global economic turmoil is underscored by a stronger-than-expected exhibitor presence at the Arabian Travel Market, which opens today at the Dubai International Exhibition & Convention Centre.

Dubai Anniversary Bash Thrills ‘Emirates Putturians’

Dubai Anniversary Bash Thrills ‘Emirates Putturians’

On Friday, 10th October, "Emirates Putturians's" eighth anniversary was celebrated at Mirch Club, Hotel Ramee Royal. The party was a grand success, with Sweet Melodies band constituted by Arun Carlo, Sheela Carlo, Canute Roshan Carlo, and Vijay fascinating the listeners through their favorite Konkani, Hindi, and English hits that kept the get-together on the dance floor for hours.

New abras with better safety measures to be launched by RTA

New abras with better safety measures to be launched by RTAWith the aim to enhance the marine transport capacity on Dubai Creek and achieve better levels of security and safety, a new generation of abras is being unveiled by transport chiefs.

Kylie Minogue to perform at private Dubai gig

Kylie Minogue will be performing in a flashy private party on the manmade Palm Jumeirah Island off Dubai for 2 million.

This will be Kylie’s first ever performance in the Middle East and it will be in front of local celebrities including Dubai royal family.

Her 90 minute long performance on official launch of Atlantis Hotel will be the main show of the party.

Kylie is all set to hit South America with her 2008 X tour and it starts from November 1 in Bogota, Columbia.

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