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Inflation will not curb property demand
- United Arab Emirates: Tuesday, June 10 - 2008 at 07:15
Emaar Properties Chairman Mohammad Al Abbar said yesterday that soaring inflation in the UAE was unlikely to curb demand for real estate in the country, reported Reuters. Because inflation is a 'global phenomenon', it will not impact demand for real estate in the UAE, Al Abbar said. He added that increases in raw material prices are not a major concern for Emaar as most of its projects are long-term and the company procures raw materials in bulk.
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Jeff Florian, Senior ReporterTuesday, June 10 - 2008 at 07:15 UAE local time (GMT+4)
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