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UAE: Developers urged to slow down housing projects

Posted on 13 April 2012

Developers and other real estate investors need to slow down their housing projects to balance the market after supply sharply exceeded demand in some areas, Dubai’s deputy ruler was reported on Wednesday as saying.
Sheikh Hamdan bin Rashid Al Maktoum, the UAE’s Minister of Finance, said the real estate sector in the UAE had been hit by the 2008 global fiscal crisis and a surge in supply in the outskirts in such key cities as Dubai and Abu Dhabi………………………………………..Full Article: Source

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