Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: neolib who wrote (242311)	3/25/2010 10:59:03 PM
From: neolib	Read Replies (1) \| Respond to of 306849

Further down in the Wiki article: An article in the Wall Street Journal in October 2009 reported that Dubai's economy, heavily dependent on real estate where prices have fallen 50% in a year, has been badly hit by the global financial crisis, unlike its wealthier neighboring emirate, Abu Dhabi. Dubai has $50 billion of debt coming due in the next three years, according to Standard & Poors. But its total debts are estimated to exceed $80 billion. In another article in October 2009, Reuters reported that one in four homes is vacant in Dubai and a quarter of office space lies empty due to oversupply, and additional supply coming onto the market will continue to put pressure on prices, Colliers International said on Wednesday.[when?] The property services firm said in a report the emirate will have 340,000 residential units by the end of 2009, with another 34,300 expected to come online in the next two years. Meanwhile, leasable commercial space is expected to double to six million square metres by 2011, Colliers said. “The survey indicates a market beset with falling demand and oversupply evidenced through increasing vacancy levels and falling take up rates”, it said.