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Property market may take hit from bank crisis
- Middle East: Tuesday, September 16 - 2008 at 11:53
Gulf investors are worried about the possibility that the recent US and international mortgage and credit risk problems will affect the real estate market in the region, an official at the Arab Administrative Development Organization told Reuters. Rafat Abdelhalim Alfieri, ARADO's director general, said Arab governments should update and issue new transparent laws to regulate property markets to maintain the recent growth pace. need to enact changes to management, mortgage financing and environmental requirements, he said
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Jeff Florian, Senior ReporterTuesday, September 16 - 2008 at 11:53 UAE local time (GMT+4)
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