Wednesday, June 2, 2010
50% fall is possible if it can happen in dubai in can happen in UK
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 (1018 views)
2 thoughts on “50% fall is possible if it can happen in dubai in can happen in UK”
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miken says:
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
icarus says:
“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.