When the Checks Stop Coming In: Dubai is in Debt By More than 50 Billion

- By Bossip Staff

Once looked at as the premier hotspot for celebrities to vacay at, Dubai is now under financial scrutiny for a massive amount of debt.  More details under the hood.

Dubai World, the corporate arm of Dubai, which has led many of its most ambitious real estate projects is now struggling under the burden of $59 billion in liabilities.

The conglomerate, which also owns Dubai’s huge port operations and has taken stakes in glamorous overseas properties like Barneys and MGM Mirage in Las Vegas, has billions of dollars of payments due in the upcoming months.

The government has asked its creditors for a six-month reprieve from debt payments.

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  • KeepNit2Real

    and this was the spot my wifey wanted us to relocate to after I told her Dubai was only in it for a short ride…

    instincts on my side as usual. Dubai can kiss mi ra..

  • Rihanna's sharp n witchy finger to the oath

    an oasis in the desert is usually a facade…

  • Certain

    Who didn’t see this coming? I mean, every time I’d hear something about Dubai there was some new ridiculous waste of money monstrosity being built. It’s like they knew it was coming but just didn’t care.

    I bet they want people to be there shopping and spending money now. I bet hotel rooms are cheap as hell.

  • Peptostreptococcus

    The US is in trillions of dollars in debt!!! Who can fathom the numbers???

  • melb2009

    sad, sad, sad. if they would have had careful spending, instead of trying to floss for the white mofo’s they wouldn’t have this prob now. I saw them on 60 minutes & they really had it going on, wonder what they gonna do to get out of this hold.

  • Andromaches

    Well one of the world’s true power players will step probably step in and invest now. China or Russia most likely. Just like China lends the U.S. money to fund our many no-win commitments. China owns us. We’re headed for third world status.

  • Jay

    Sigh the worse part is what will they do when people stop needing there oil. LOL.

  • Nena

    I will never forget the fact that during the opening of the Atlantis in Dubai they paid Kylie Minogue a million dollars for one song, to only sing ONE SONG, one damn song! And they have my people, all people from 3th world countries are my people, do all the dirty work for a minimum wage and with no roof over their heads, because the money they make is just enough to send back home making them live like animals with no secure place.

    Muslims? Muslims? Ha! Someone please smack those ”people” in the face with the real definition of a Muslim!

  • miss confused

    @ Nena
    I couldn’t say that better u soo right i can’t stand them is a shame that they say they are muslim. huh muslim they dont even know what muslim is! just wondering what they do or say on judgement day 😐

  • Almighty Dollar

    don’t you know nothing is more important than money? “For the love of money people will steal from their mother” I think there’s enough money to bail ’em if they think it’s worth it.

  • 6 Figgaz

    This morning I read in a newspaper source much more reliable than B*ssip that the figure is actually $80 billion, and that they’re asking for a reprieve on $59 billion. Either way, SMDH.

  • Okayyyy!!!!

    Isn’t this the country were people own, platinum and gold bullet proof mercedes/BMW or something like that????

  • white male

    Dang I saw its says on the news that stocks have plummeted, I’m scared to check my stuff.


    Just a bunch of HILLBILLIES with money.(um…not anymore !)The emirates started building like crazy during the last run-up in oil prices to show the world that they too were capable of sophistication.MASSIVE FAIL ON ALL LEVELS.(*evil laugh*) No one in the rest of the business world really want’s to do business with Arab nations for any reason other than oil…or because they can fleece you to fund their own grandiose ambitions somewhere else on the planet.(LAS VEGAS)BTW-thanx for throwing the BILLIONS @ CITY CENTER & making sure the project gets finished.People might actually visit that place…which is more than I can say for Dubai.(*second evil laugh*)

  • Jay the Real One

    They building and spending at an insane rate, like they were printing the money.

  • WhatAWorld

    Wow so much for my Dubai trip and I told somebody that they were going to crash because everybody can not afford those ridicules prices for hotel suites and they buy gifts and give celeb money just flash them a smile or sing like some screeching cat!

  • http://bossip lulu

    i know swizz broke,he was hanging out there


    dear god,
    puh lease stop all these bad credit naggas from coming in here giving out financial advice like they the CFO of Edward Jones, In case none of you knew as long as Dubai has a populace it can incur more and more debt, like the united states, because its the populace that pays debt, not the city state

  • Dajournalist

    SOunds like an excuse for the IS to swoop in and save it, buy it and turn it into and exclusive, AMerican cracker playground

  • Dajournalist

    SOunds like an excuse for the U.S. to swoop in and save it, buy it and turn it into and exclusive, AMerican cracker playground

  • nywoman23


  • I really don't care

    GOOD…..Let that place burn in hell and go down in flames! As someone mentioned earlier….Dubai is nothing but an Oasis in the desert. lmfao

  • memchee

    Not surprised 1 iotta.

    the amount of $ poured into that place was ridiculous.

  • On the real...

    It was projected that Dubai would be a celebrity get away but all the celebs wanted to be comp’d so no money collected.

    I knew that was’t going to last long.

    Now what?

  • Huh?

    welcome to the club…

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