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Politics : Formerly About Advanced Micro Devices

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To: Elroy who wrote (326094)	2/16/2007 8:48:16 AM
From: Elroy	Read Replies (3) of 1577375

Inflation? What inflation? Office rents in Dubai will soar up to 40% By Robert Ditcham, Staff Reporter gulfnews.com Dubai: The feared slump in Dubai's residential property market is unlikely to occur while office rents will skyrocket by up to 40 per cent over the next two years, according to a real estate advisory and marketing company. In the residential market, the talk of the city continues to be an anticipated price correction, triggered by a massive supply of new units. According to Dubai-based RichVille Advisory Group, construction delays and a population expected to double in five years means these fears are unfounded. The city's population will hit 2.5 million by 2010, creating demand for an additional 480,000 residential units (based on 2.5 people per unit), the study claims. It adds that expected projects scheduled for completion by 2010 do not exceed 500,000 "residential" units - the rest being office and mixed use developments.

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