Tuesday 8 October 2013

Developers pour fuel on Dubai’s overheating property market - FT.com

Developers pour fuel on Dubai’s overheating property market - FT.com:

"Dubai is pressing ahead with tens of billions of dollars worth of property launches, fuelling a property boom even as its regulator seeks to stem speculative buying and cool the market.
State and private developers are planning dozens of schemes, as Arabs seeking an investment bolt-hole from strife in Syria and Egypt, joined by South Asian and Russian buyers hoping to minimise their tax bills, ramp up the market.
They include an artificial extension of the city’s creek to the beach, as well as new towers with penthouse apartments with a price tag of $250m."

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