Middle East Economic Survey

VOL. LII

No 11

16-Mar-2009

UAE

Dubai Property Market Heavily Affected By Global Crisis

The Dubai real estate market is increasingly uncertain and volatile due to the current global recession. According to a report published by the property company Jones Lang LaSalle in February, the combination of economic slowdown, falling employment levels and a severe tightening of credit is causing major distress to the market.

After a booming performance during the first half of...