In brief

• The economic events of 2008 sent shock waves around the world and even Dubai was not immune to the effects of the resulting financial turmoil.

• Dubai has the necessary political and legal framework to enable it to safeguard businesses in adverse economic climates.

• Such protection as offered to businesses seems to be lacking for individual investors, and many would argue, offering investors commercial solutions that are comparable to those offered to banks and trade creditors would be viewed as a huge step in the right direction.

Dubai enjoyed a prolonged boom before eventually succumbing to global events during the second half of 2008. This boom period earned Dubai global recognition as a ‘new international business hub' and ‘the city of dreams'. During this period, many people invested their savings in a very popular segment of the city of dreams, namely high end real estate developments.