One of the owners of the island of Ireland on Dubai’s the World project has taken his own life.  Speculation points to worries over the current economic crisis being the reason John O’Dolan took his life.

John was one of four partners who purchased the “Ireland in the Sun” development in March 2007 for approximately $38.6m.

The partners intended to build a resort with homes, restaurants, retail outlets and leisure facilities on the 225,000 sqft island development.

Mr O’Dolan was found dead in his home in Galway on Friday and leaves a wife and three children.  Commentators have said that O’Dolan was depressed after receivers had been appointed to two of his businesses.   Friends described O’Dolan as “so much fun to be around”, and there has been no confirmation of the depth of distress Mr O’Dolan was under with regard to his financial affairs.

Source: ArabianBusiness.com