03.07.2009 - Value of Gulf RE projects under way is $2.39trillion
From Zawya.com: The effects of the global financial crisis on the Middle East property sector have become prominent in the dawn of 2009, when the region started witnessing a decline in unit sales and a distinctively massive correction of prices for residential projects. Amidst all this, continuous activity within the region's real estate sector is still being monitored, as governments strengthen their efforts to soften the impact by ensuring liquidity and supporting major developments. With its repute as one of the top destinations for multibillion dollar luxury residential developments, the Middle East continues to play a role in the growth of the real estate market across the globe..........Full Press Release: Source