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Burj Dubai tower sees 50% drop in property prices
- United Arab Emirates: Wednesday, November 12 - 2008 at 09:45
Real estate prices in Downtown Burj Dubai, Emaar Properties' flagship development, have fallen at least 22%, while prices in the Burj Dubai tower itself have dropped as much as 50%, reported The National. UK-based property consultants Sherwoods said prices in the development, excluding the tower, had fallen from an average of Dhs3,500 ($952) per square foot to Dhs2,700. Brokers said Downtown Burj Dubai had seen some of the biggest price drops in Dubai because prices had previously risen so sharply.
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Jeff Florian, Senior ReporterWednesday, November 12 - 2008 at 09:45 UAE local time (GMT+4)
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This article was updated on Mon Nov 17 2008.
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