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Only way for the UAE property market is up now

Posted on 31 October 2011

The real estate market in the UAE appears to have bottomed out, according to the Institute of International Finance (IIF). “The real estate market in the UAE appears to have bottomed out, and significant progress has been made in corporate restructuring and in governance. The main catalyst of the projected solid growth next year is the expected turnaround in the real estate market,” the Washington-based institute said.
Real estate residential prices in Dubai and Abu Dhabi have dropped by about 60 per cent and 50 per cent, respectively, since their peak in 2008, IIF believes that data for the first three quarters of 2011 suggests that the market may have reached its bottom………………………………………..Full Article: Source


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