Relevant:
- Dubai Set for Property Domination
- Tamweel Wins Right to Repossess Five Dubai Homes as Owners Leave Country
- Dubai Property Regulator Canceled 217 Projects in 2 Years Amid Price Slump
- Dubai Third-Quarter House Prices Fall 6% on Reduced Lending, Colliers Says
- Dubai Project Dreams Evoke 2008 Crash at Banks: Mortgages
2010-04-12 — bloomberg.com
"Developers in Dubai are demanding that buyers like Turrin keep paying for homes that in some cases haven’t even been started. Builders in the emirate have delayed or canceled projects worth about $330 billion, Dubai-based market researcher Proleads estimates. The best performing real estate market in the world collapsed in 2008 after credit dried up, sparking defaults and forcing writedowns of land and property values."
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