25.10.2012 - Giant Taj Mahal canít hide Dubaiís weak real estate market
Dubai proclaimed its real estate comeback in the only style it knows: grandiose. A replica of the Taj Mahal about four times bigger than the original, a skyscraper with nine swimming pools and a mile-long canal winding its way around office buildings are among the high-profile projects unveiled in the past few weeks. The plans had been on hold since the financial crisis brought the emirateís property boom to a halt in 2008. The eye-catching developments may be creating a buzz. In reality, the nascent recovery has been limited to a few areas of Dubai, which suffered a slump that caused property values across the emirate to fall by as much as 65 percent...............................................Full Article: Source
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