Taking the pulse of Dubai reveals a number of salient facts.
Property prices are down 60 per cent since their peak in late 2008. The market capitalisation of the Dubai Financial Market has fallen 70 per cent since its peak in early 2008, and broader investor confidence remains shaken primarily because of the emirate’s solvency concerns. However, construction has not halted completely and, though painful, the restructuring of Dubai Inc is progressing.
So how bad are things, and how far is Dubai from a return to the glory days?
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