World Economy:
April 6th, 2009 in Breaking News
Dark side of the Dubai dream
BBC NEWS | UK | Magazine | Dark side of the Dubai dream.
It is a place in the sun for over a million of us who holiday there every year. It boasts a host of luxury apartments that has celebrities flocking. But behind the glitz and glamour of Dubai often lies a murky world of exploitation and an immigrant work force living on the breadline.
Hit by the credit crunch, Dubai’s economy has taken a turn for the worse reliant as it is on tourism, financial services and real estate. For those labouring to make the Dubai dream a reality, building the homes for the rich and famous, are facing greater pressures than ever.
But despite the slump, the pressure on would-be buyers is still healthy. A Panorama reporter posing as a potential buyer and kitted out with a secret camera, met with a company endorsed by celebrities. Footballer Michael Owen is a paid ambassador along with England cricketer Freddie Flintoff and golfer Sam Torrance.
A sales representatives from The First Group said now was a great time to buy property. She also allayed any concerns about the wellbeing of the company’s construction workers.
Offering a purchase that would see a £438,000 apartment rise to £1.33m in just 10 years, the sales reps also said they believed the workers were happy to be there.
Freepressinternational:
Dark side of the Dubai dream | FREE PRESS INTERNATIONAL
BBC NEWS | UK | Magazine | Dark side of the Dubai dream
April 6th, 2009 in Breaking News
Dark side of the Dubai dream
BBC NEWS | UK | Magazine | Dark side of the Dubai dream.
It is a place in the sun for over a million of us who holiday there every year. It boasts a host of luxury apartments that has celebrities flocking. But behind the glitz and glamour of Dubai often lies a murky world of exploitation and an immigrant work force living on the breadline.
Hit by the credit crunch, Dubai’s economy has taken a turn for the worse reliant as it is on tourism, financial services and real estate. For those labouring to make the Dubai dream a reality, building the homes for the rich and famous, are facing greater pressures than ever.
But despite the slump, the pressure on would-be buyers is still healthy. A Panorama reporter posing as a potential buyer and kitted out with a secret camera, met with a company endorsed by celebrities. Footballer Michael Owen is a paid ambassador along with England cricketer Freddie Flintoff and golfer Sam Torrance.
A sales representatives from The First Group said now was a great time to buy property. She also allayed any concerns about the wellbeing of the company’s construction workers.
Offering a purchase that would see a £438,000 apartment rise to £1.33m in just 10 years, the sales reps also said they believed the workers were happy to be there.
Freepressinternational:
Dark side of the Dubai dream | FREE PRESS INTERNATIONAL
BBC NEWS | UK | Magazine | Dark side of the Dubai dream