| Dubai, the Persian Gulf business hub where real estate values have fallen for three years, has cancelled 217 property projects in a two-year review of the industry.
Out of more than 450 projects reviewed by the Real Estate Regulatory Agency, 237 will be completed, according to a Dubai government bond prospectus that didn’t name the cancelled developments. The value of property transactions fell to 119.5 billion dirhams ($32.5 billion) in 2010 from 152.9 billion dirhams a year earlier, the document said.............................................Full Article: Source
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