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Property profit may slow in some areas of Dubai
- United Arab Emirates: Thursday, September 25 - 2008 at 11:03
The director-general of Dubai's Lands Department said yesterday that profits in the emirate's real estate sector could slow and sales may ease in certain areas, but the overall outlook remains positive, reported Khaleej Times. Sultan Butti bin Mijrin said buyers had become very selective in property investments in the wake of the global credit crisis, but the outlook for the sector remains positive with registered property sales so far this year reaching Dhs200bn ($545bn). He explained that a correction may be felt in some areas of Dubai but it is not likely to occur across the entire emirate.
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Jeff Florian, Senior ReporterThursday, September 25 - 2008 at 11:03 UAE local time (GMT+4)
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