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Dubai property on red alert

Posted on 07 October 2008

From FT: The Dubai government likes to use the annual Cityscape real estate exhibition to build confidence in the emirate and build interest in its property market. Massive schemes are announced and ever-more ambitious plans are hatched.

But this year’s exhibition has come amid falling local stock markets - Saudi Arabia fell 10 per cent on Monday - and growing concerns that the international financial crisis will bring about a correction to what is widely viewed as a frothy market….. Full Article: Source


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