I would like it to have my story in my words.

Some of you may have heard of me, and some of what you may have heard may not be very positive. Beginning in early 2009, I was accused of a range of professional failings. But none of those accu sations are true. Nevertheless, as a consequence of those accusations, I spent 1 40 days in custody here in Dubai. With the support of my legal counsel, I have since completely cleared my name. I have been found innocent by every court. I first settled in Dubai with my famil y in 2004. Business was booming here and across the globe. It was then that I st arted a property investment company called Dynasty Enterprises. We were very suc cessful. A few years later, we merged our business with the business interests of Hilal A l Zarooni, to become Dynasty Zarooni. Between 2004 and late 2008, Dynasty Zaroon i invested in, marketed and sold residential and commercial property, primarily in high-growth areas of Dubai and Abu Dhabi. The company carried out transaction s during that period worth in excess of 6 billion dollars. Then Lehman Brothers went bust and, like the rest of the world, Dubai was impacted by the global fina ncial downturn. Not long after the start of the global financial crisis, a legal complaint was f iled against me by a small group of investors whose cheques to the company had b ounced. These large-scale investors, who had invested in multiple units, accused me of a range of made-up acts of wrongdoing, including that some of the project s we had sold were non-existent and that we did not have legal title to sell oth ers that did exist. Although the courts have since affirmed that all these claims were bogus, I unde rstand why these investors did what they did. These investors had placed very la rge amounts of leveraged capital in a wide range of projects, including in some projects that we had sold them. After the sudden downturn in the Dubai property sector, these investors were left in an extremely precarious position. They were highly leveraged, highly exposed and probably frightened. They had wri tten very large cheques to Dynasty Zarooni and other companies that they knew were ot going to clear. They understood that the consequences of that could be severe . What they did next was understandable but still wrong: they tried to make me the fall guy. Over the past few years, I have spent a lot of time with my lawyers a nd in the courts. Even though I have been completely exonerated and found innocent of every single c harge made against me there are still times I look back and shake my head in wonde r. I ve concluded that life is a lot like the property market: it s cyclical, and full of ps and downs. Reaching the peak of the cycle can be exhilarating. Hitting bottom can be devastating. If we believe in ourselves and what we are doing, though, we just have to accept that life is cyclical. Despite the challenges I have faced, I continue to inves t in Dubai s real estate sector because I believe there are clear opportunities for success. Kabir Mulchandani CEO Skai Holdings Dubai webmaster@skaiholdings.com