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Dubai Speculators Quit as Lending Drought Bursts Desert Bubble
Thursday, 4 Dec, 2008 – 11:46 | One Comment
Dubai Speculators Quit as Lending Drought Bursts Desert Bubble

The classified ads in Dubai read like an obituary for a real-estate market that until a few months ago seemed immune from the global credit crisis.
A Turkish investor, who identified himself as Sebat, took out …

Architect reveals Burj Dubai height
Wednesday, 3 Dec, 2008 – 22:34 | No Comment
Architect reveals Burj Dubai height

Since its conception the final height of the Burj Dubai, the world’s tallest tower, has been the subject of much speculation.
But on Wednesday one of the architects behind the mega-project spoke for the first time …

Sheikh Hasher Al Maktoum and Hamad Al Fardan all out to impress during Grand Racing
Wednesday, 3 Dec, 2008 – 10:03 | No Comment
Sheikh Hasher Al Maktoum and Hamad Al Fardan all out to impress during Grand Racing

3 December 2008: UAE driver Sheikh Hasher Al Maktoum and Bahraini driver Hamad Al Fardan vowed to uphold the region’s honour during their respective races on the Grand Racing weekend at Dubai Autodrome on Friday …

Trump Tower suspended, says Australian contractor
Monday, 1 Dec, 2008 – 12:16 | No Comment
Trump Tower suspended, says Australian contractor

The proposed Trump Tower on the Palm Jumeirah, a Dh2.9 billion (US$800m) project announced earlier this year, has been suspended, says the Australian construction firm contracted to build it, according to The Australian newspaper.

Artists Impression …

Negative equity and mortgage defaults creeping into Dubai property market
Sunday, 30 Nov, 2008 – 17:13 | One Comment
Negative equity and mortgage defaults creeping into Dubai property market

Mortgage defaults, negative equity and repossessions are set to become a reality in Dubai, property professionals are predicting.
High interest rates, banks tightening credit and falling real estate prices have hit buyers of off-plan property hard …

The party’s over in Dubai
Sunday, 30 Nov, 2008 – 17:09 | No Comment
The party’s over in Dubai

Local banks are in trouble and property prices have crashed. Is the bubble about to burst?
Lorna Davidson and her husband Mike gave up Leicester for Dubai this summer looking for a better life. They didn’t …

Nakheel cuts 500 jobs, scales down work
Sunday, 30 Nov, 2008 – 10:16 | No Comment
Nakheel cuts 500 jobs, scales down work

Nakheel, one of the world’s largest privately owned real estate developers, has announced plans to scale back work and cut staff.
Just days after the high profile arrival of the QE2 at its new home in …

Speculators’ ill wind blows well for homebuyers
Thursday, 27 Nov, 2008 – 11:19 | No Comment
Speculators’ ill wind blows well for homebuyers

For months, the question has been the subject of a fierce debate among economists and property executives: to what extent has Dubai’s housing economy been fuelled by speculators trying to make a quick profit?
Now that …

Fiery car crash shocks residents
Thursday, 27 Nov, 2008 – 11:04 | No Comment
Fiery car crash shocks residents

(Picture: Scott Shuey/Gulf News)
At least one man died when the sports car he was driving spun out of control and burst into flames on Shaikh Zayed Road last night, trapping him inside.
The crash and resulting …

The Atlantis is Now Open
Thursday, 20 Nov, 2008 – 23:16 | No Comment
The Atlantis is Now Open

The biggest party in Dubai is over , the invited guests are probably stone cold drunk or partying the night away as I write this, one just hopes there is no new sex on the …