UAE government pays off $544m debt of citizens

Posted by: samar saad Sunday, 4 March 2012 4:31 PM[UAE] - paliestain -----------------lebanon

i hope all arab country to be the best. Good effort.

Posted by: Fadwa Friday, 27 January 2012 2:46 PM[UAE] - UAE

Time for governments of all expats to take care of their own peoples, expats cant ask the GCC countries to take care of them when they have their own governments that should take good care of them, no passing the buck here folks.

Posted by: RaOne Friday, 27 January 2012 2:45 PM[UAE] - UAE

Property investors should put their grievances in the right place...no need to cry here when no one forced you to make the investment that you made.

As for this scheme, this is benevolence for some eyes and wrong policies for others.

But then there are governments in this world (US/Europe) who can simply print money and disburse trillions of dollars literally free money to their banks, pay unemployment benefits, tax rebate, cash for clunkers.

Remember to many in developing world this looks like injustice too, cause they work hard and not get benefits like these.

So it is for individual governments and its citizens - what benefits they want to provide and what not.

the fathers / grandfathers of this generation citizen had seen very very harsh life.....and at that time no one bother. Now that this generation get some (and some) benefits to improve their lifestyle in this other wise desert land, this should not be an issue.

Posted by: Angelika Lancsak Thursday, 26 January 2012 6:03 PM[UAE] - Austria / UAE

Every government has the right to care for its people. Period.

Posted by: 2filsworth Thursday, 26 January 2012 4:55 PM[UAE] - UAE

@Ahmed,

The majority of cases are concerning everyday people that decided to invest in Dubai with a long term viewpoint and not a quick rich approach. The people who paid deposits for multiple floors in projects and then left caused the demise for alot of people.

When there was little or no regulation surrounding the real estate market during this period, no matter how much due diligence was done, people still got burnt. What about people who bought into Nakheel Projects, you would think dealing with a government entity would be secure enough.

The constant events that are popping up throughout the Dubai real estate market especially with Nakheel and DPG is going to have extremely negative effect of the Dubai market and whatever confidence people had, is slowly disapearing.