Property developers in Dubai are finding it difficult to find credit after a slump in prices. Some have been forced to rely on international investors, as local banks have cut funding.
Throughout the city state there is fear about what the current crisis will mean for businesses and jobs.
State-backed Dubai World owes $25bn in bonds and bank loans and wants to freeze repayments for six months.
Dubai World's creditors have started to organise together, to consider its request for a standstill on its debt repayments.
Jeremy Howell reports.
One-Minute World News 
Bookmark with:
What are these?
E-mail this to a friend