Thailand's direct exposure to the Dubai market crash has been very limited, but a greater impact could come from deteriorating global sentiment if the situation worsens, says international property consultant Colliers International Thailand.
Dubai World, the emirate's largest corporate entity, announced on Nov 25, 2009, that it would seek a "standstill" agreement on its US$80 billion in debts.
The news sent shockwaves through the global financial community and questions were raised in relation to Thailand's exposure to firm and its offshoots.
The first Islamic bond payment of US$3.59 billion for its real estate arm Nakheel, due on Dec 15, was covered by the Dubai government thanks to a $10-billion loan from Abu Dhabi.
