| 30.01.2009 - Abu Dhabi Developers report steepest profit drop as boom slows |
| From Bloomberg: Abu Dhabi’s largest property developers posted their steepest profit declines since listing in 2005 as the real-estate boom in the United Arab Emirates, the second-largest economy in the Persian Gulf, slowed amid the global credit crisis. Sorouh Real Estate PJSC, the biggest developer by market value, had a 91 percent drop in fourth-quarter net income, while Aldar Properties PJSC, the No. 2 in the emirate, recorded an 84 percent plunge in profit. .... Full Article: Source |