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HK architects hit by Dubai debt

2009-12-03 13:35 BJT

Special Report: Dubai Debt Crisis |

Hollywood and sporting stars are bearing the brunt of unpaid debt at state-owned Dubai World. But here at home, the real estate sector in the Hong Kong Special Administrative Region are also having to cope with new challenges.

Construction on one office block costing more than 4 billion US dollars has ground to a halt, and it's not the only one to suffer. With the future now uncertain for 4 out of 5 projects in Dubai, Hong Kong architects who designed these buildings are now out of a job.

Authorities in the Special Administrative Region say some may find positions elsewhere in the Middle East, but that will be difficult because they may not find as many projects on offer. And that means just under a hundred architects are expected to return to Hong Kong, where they can expect a significant drop in their salaries.

Editor: Xiong Qu | Source: