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Nahkeel rides cost increases
- United Arab Emirates: Tuesday, May 02 - 2006 at 08:18
Dubai-based developer Nakheel says construction costs are now 15% higher than two years ago, mainly due to higher prices for steel and cement, which have helped push housing prices up in its developments by 30%, according to Reuters. But the company is expecting a rise in foreign investment after the Dubai government passed a law allowing limited foreign ownership of freehold property.
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James McInerney, News EditorTuesday, May 02 - 2006 at 08:18 UAE local time (GMT+4)
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