Posts Tagged ‘real estate’

Real Estate – Cityscape 2009

Some of the projects touted in the Dubai property market during the boom years showed that the developers behind the schemes had ‘lost touch with reality, and clearly lost touch with the cost and value aspect of the development’. ‘It got to a point where crazy projects were coming up, and people thought that the only way to keep up was to announce an even crazier one. There was no longer any concept of tracking the cost or sustainability of a development versus the returns…Not every project can be the ‘biggest’ and ‘the best’.’
A new report on the state of Dubai’s property sector as the market enters the fourth quarter of 2009 has found that all facets remained in the downward phase of the cycle, with prices and rentals likely to continue falling over the rest of the year

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