30.12.2009 - UAE: ‘Annus Horribilis’ for real estate
From Albawaba.com: 2009 has been an ‘Annus Horribilis’ (Latin for horrible year) for most of the global property and real estate world including the UAE, but 2010 will see confidence-boosting consolidation with growth returning by 2011, according to a leading United Arab Emirates developer. “With the onset of the financial crisis at the close of 2008, many of us in the property and real estate world expected 2009 to be one of the most challenging of modern times. It was certainly that - and then some!” said Mohammed Nimer, CEO of MAG Group Property Development, which is involved in AED3 billion of developments in the UAE..........................................Full Article: Source
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