Thursday, October 17, 2013

Dubai renewed boom spurs calls to remember the crisis

Dubai property sector comeback stirs fears of new bubble
Some residential property has bounced by about 20 percent, said Alan Robertson, chief executive officer for the Middle East-North Africa region at Jones Lang LaSalle property consultancy.

"We think prices will continue to grow quite quickly over the next 12 months, but over the next 24 months we will see the rate of growth slow down," he told AFP, adding that prices were still 20 to 30 percent below their 2008 peak.

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