The developer “is probably calculating they can wipe the slate clean and start over with new investors, but this shows that the old system is still very much there despite all the effort to present a fairer one to protect investors’ rights,” said Ryan Bohl, an analyst at risk intelligence consultancy Rane Network. “If you put money into the Emirates or any Gulf country, except Kuwait, you have to be prepared to take a loss because investors’ rights are always going to be at the pleasure of the ruler.”

Read the full Bloomberg article here.