| From Thenational.ae: The two biggest property developers in Abu Dhabi, Sorouh Real Estate and Aldar Properties, have seen profits decline notably in the fourth quarter, underscoring that the effects of the global credit crisis have begun to impact on real estate in the emirate.
Since the end of summer, layoffs and delays have become the industry standard in the Dubai property sector, but Abu Dhabi was seen as largely protected from the turmoil. Now, with sales slowing to a near standstill and property prices declining, developers are taking a closer look at their plans and focusing on construction..... Full Article: Source
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