Tuesday, October 21, 2008

New Comical Ali….? “My feelings – as usual – there will be no HPC”

Property prices 'will not fall' in the UAE

Speaking to Emirates Business, the chairman of Dubai project Falconcity of Wonders, salem Almoosa said the price of property in the emirate 'will never go down' and he disagreed with those who see a correction coming.

Posted by whostolemyendowment @ 04:00 PM (725 views)
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5 thoughts on “New Comical Ali….? “My feelings – as usual – there will be no HPC”

  • I used to live there, and you will find no greater subsidised bubble any where in the world.

    An image from W3Schools:

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  • As an FT article yesterday made clear Dubai doesn’t have much oil and its economy is based on ‘trade’, property and financial services. Oh dear.

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  • Oh yes, and Dubai’s high levels of debt combined with a big property bubble are giving bankers there cause for concern. So this statement that property values in the city will never go down smacks of an attempt to calm nerves – in other words it shows that there is a fear that it will go down. The hope is that Abu Dhabi, which has most of the oil in the UAE, will bail out Dubai if/when things go wrong.

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  • Prices weren’t going to drop in Scotland and NI either, so went the mantra.

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  • This is like the discovery of Iron Pyrites.

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