Only a few days ago there were many articles informing people that the UAE was immune to the ravages of the global financial crisis.
While the UAE economy may possess greater buoyancy than other countries, the articles are being written with increasing frequency indicating that the property market in the Emirates is suffering.
Here are some headlines and links from the last few hours:
Dubai Property Boom Halts as Prices Fall, Jobs Go, Reuters, 13 November.
Dubai Faces Hit as Property Boom Fades, WSJ, 13 November 2008.
Dubai Property Boom Gets Hit by Financial Crisis, IHT, 13 November 2008.
Emaar Says Reviewing Jobs, The National, 13 November 2008.
Dubai Tightens Rules for Property Buyers, AMEInfo, 13 November 2008.
Bye Bye, You Don’t Work With Us Anymore, Kippreport, 12 November 2008.
Developers Say They Will Scale Back Activity, The National, 13 November 2008.
Dr Geoff Pound
Image: Clouds over the Fairmont Hotel, Dubai.
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