Wednesday, Jun 02, 2010
50% fall is possible if it can happen in dubai in can happen in UK
Times: DCOG loses £4.3bn in property slump
The group merged its three struggling property companies — Dubai Properties, Sama Dubai and Tatweer Dubai — in an effort to mitigate a 50 per cent fall in prices in the past 18 months.
Posted by mark @ 10:44 AM (633 views) Add Comment
2 Comments
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1. miken said...
What a shame.
B.T.W I thought 'The Times' were going to start charging for access to their site from start of June...
http://www.dailymail.co.uk/money/article-1260836/Times-Sunday-Times-Online-charge-1-day-June.html
2. icarus said...
"There is no need to restructure outstanding debt,” the CEO of DCOG said. On the other hand they are rolling over maturing loans and the holding company of which DCOG is a part has requested a 3-month extension on debt repayments to give it time "to put forward a comprehensive proposal extending the maturity of other loans" So that's alright then.