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U.A.E. property prices, rents may drop further 20pct, Arqaam says

Posted on 20 October 2011

Property prices and rents in the United Arab Emirates may drop a further 20 percent this year and next because of excess supply, Arqaam Capital said.
“There is a further leg down to the U.A.E. property market before residential prices and rents recover,” analyst Mohammad Kamal wrote in a report dated yesterday. “We see a further 15 percent to 20 percent in downside to prices and rents in financial year 2011 and 2012.”………………………………………Full Article: Source


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