Dubai developer seizes 'second chance'

[DUBAI] Dubai's boom-and-bust real estate market can land you at the wheel of a Rolls-Royce or behind bars. Kabir Mulchandani should know: He's experienced both.

Five years after spending 140 days in jail facing charges of fraud and embezzlement for which he ultimately was cleared, the chairman of developer Skai Holdings stands at a building site watching cranes start work on one of the company's three projects.

They will have a combined value of about six billion dirhams (S$2 billion) when completed.