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Property price falls 'draw investors to UAE'

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Property price falls 'draw investors to UAE' - Middle East - UAE - investors - falls - price - Property

The credit crunch does not appear to be putting off investors in the Middle East, one company has suggested.

Speaking as one of his firm's subsidiaries Anatara Resorts opened a new property in Liwa, Abu Dhabi, Minor Hotel Group chief operating officer Dilip Rajakarier indicated to Emirates Business 24/7 that the economic downturn is assisting those in the real estate sector.

"Investors are keen to invest in the future while property prices are down," he remarked.

The UAE economy will shrink by 0.8 per cent this year due to the effects of the global recession, according to a collection of forecasts assembled by the National.


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