Construction companies that aggressively moved to diversify into other countries during the downturn in Dubai property have seen their shares sold heavily due to the political turmoil in the Mena region.
Several UAE developers and builders have expanded into Egypt, Saudi Arabia, Libya, Tunisia and Bahrain in recent years. Diversification was considered a crucial ingredient for companies looking to avoid overexposure to the struggles of the Dubai property market.
Now such diversity is viewed as a negative.
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