| From Gulf-times.com: The value of Dubai real estate transactions so far this year has fallen 45% to 14.7bn dirhams ($4bn) from AED26bn in the first two months of 2008 as the emirate’s property sector struggles amid the wider global financial crisis, the land department said yesterday.
“The total value of real estate transactions in the first two months of 2008 was AED26bn. So far this year we’ve seen AED14.7bn,” Mohammed Sultan Thani, assistant director-general of Dubai land department told a press conference. The value of sales in January and February, meanwhile, fell 40% to AED7.6bn from a year earlier, Thani said. .... Full Article: Source
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