Footballers and film stars caught out as Dubai crash hits new low - Times Online

Footballers and film stars caught out as Dubai crash hits new low - Times Online

Hugh Tomlinson in Dubai

David Beckham and Brad Pitt are believed to be among the celebrities and sportsmen who bought villas in Palm Jumeirah in Dubai, a luxury development that juts out into the Gulf. But when the property bubble burst this year, residents saw the value of their investments collapse. Yesterday their situation worsened as Nakheel, the developer, and its state-owned parent made a request to suspend debt repayments.