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3000 Abandoned Cars at Dubai Airport as Economy Turns Down

Juan Cole 01/17/2009

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Airport police in Dubai have found some 3,000 abandoned automobiles during the past 4 months, as Indian and other South Asians in the real estate industry lost their jobs and fled the country. They appear to have suddenly found themselves unable to afford their monthly payments on the car loan (“equated monthly installment”) and knew the car would be repossessed anyway. A lot of the former owners appear to have been fleeing in such panic because they were deeply in debt at that time they lost their positions.


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About the Author

Juan Cole is the founder and chief editor of Informed Comment. He is Richard P. Mitchell Professor of History at the University of Michigan He is author of, among many other books, Muhammad: Prophet of Peace amid the Clash of Empires and The Rubaiyat of Omar Khayyam. Follow him on Twitter at @jricole or the Informed Comment Facebook Page

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