The recent chain of events in Dubai could delay the recovery for the United Arab Emirates real estate sector and put renewed downward pressure on property prices and rentals, Goldman Sachs said.
Data for the third quarter of 2009 suggested the UAE real estate sector was showing early signs of recovery, with prices and rentals beginning to stabilize, Goldman said.
"The extent of the impact on the sector will largely be a function of how the restructuring of Dubai World unfolds - which remains unclear at this stage," the brokerage said.
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