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UAE denies mass exodus of foreign workers

Labor Minister Saqr Gobash on Monday denied that the country is witnessing a mass departure of foreign workers and that the population is falling due to the financial crisis.

70 percent price-fall looms for UAE real estate

The Swiss banking giant UBS has downgraded the real estate sector in the United Arab Emirates (UAE), the Wall Street Journal reports.

80% of Real Estate & Infrastructure Organizations Plan To Reward High-Performing Employees Despite Slowdown

Hewitt Associates announces results of its Real Estate and Infrastructure Economic Climate survey 2009 in the UAE

The credit crunch and subsequent global recession have taken their toll on the Gulf real estate sector, with local financing from banks no longer available and capital flows into the region on the decline. These factors, together with the resulting negative market sentiment, are the basis of Moody's negative outlook on the region's property sector.

Little chance of property recovery in Dubai this year

A recovery in the property market in Dubai is unlikely this year with some analysts predicting further steep falls in real estate prices.

The crisis has hit the emirate hard, but it is wrong to write it off

THE first glamorous residents have already made a home for themselves at “The World”, an archipelago of 300 artificial islands (pictured above) created off the coast of Dubai by Nakheel, one of the emirate’s big three developers. Pilot fish and parrot fish have colonised the man-made reef surrounding the islands. The reef, built from 34m tonnes of rock, forms a protective ring around the islands—a breakwater that stops the Gulf’s currents from slowly washing The World away.

Fitch sees retail lending risk in Qatar as moderate

Santhosh V Perumal Gulf Times 25.04.2009
70 pct price falls loom for UAE real estate

The Swiss banking giant UBS has downgraded the real estate sector in the United Arab Emirates (UAE), the Wall Street Journal reports.

Fitch sees retail lending risk in Qatar as moderate

Credit rating agency Fitch finds only “moderate” risk potential in retail lending of the Qatari banking sector compared to “high” risk of those in the UAE and Oman.

Swiss-Belhotel's Dubai property on schedule

Matthew Warnock Hotelier Middle East 24.04.2009
Swiss-Belhotel's Dubai property on schedule

Gold Swiss-Belhotel Dubai has confimed that its Dubai property is on schedule for a July opening with structural work 100% complete and finishing touches now being applied to the interiors.

Dubai property prices to 'trough 70% down on peak'

A report on the UAE property sector has concluded that prices for residential property in Dubai may bottom out at between 57% and 70% from the peak levels seen in Q4 2008. The report also downgraded Emaar and Union Properties from a 'Neutral' rating to 'Sell'.


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