In Pictures
This week sees the birthday of Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE. Kipp doesn’t know if he plans a party, but he’d be hard pushed to top these.
Arabic News View
Kipp takes a look at some editorials from the Arabic press. This week: Change looms over the energy industry; Rescue from Damascus; Change in the Middle East; Silencing Syria.
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US intelligence network is so massive and so secretive that nobody knows how much it costs.
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Indrani Dasgupta
Indrani Dasgupta
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Homepage | Middle East Business News | Middle East | Dubai’s property prices may fall by another 30 percent
Dubai’s property prices may fall by another 30 percent
House prices in Dubai could drop by another 30 percent and could take at least 10 years to recover, according to a report issued by financial services firm UBS. The report blamed the slow recovery on oversupply in the market and Dubai’s shrinking population.
The city’s residential property market may be 25 percent oversupplied by the end of next year, UBS analyst Saud Masud said in a statement. Meanwhile the city’s population may fall 8 percent this year and another 2 percent in 2010, he added.
Royal Jordanian swings to H1 loss on operating costs
H1 net loss 7.2 mln dinars vs H1 2009 net profit 7.75 mln.
H1 net loss 7.2 mln dinars vs H1 2009 net profit 7.75 mln.
Tags: Dubai, fall, property prices.
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