From Real Estate to Aviation, It's Been a Tough Week for Dubai - Bloomberg:
It’s a week Dubai companies would like to forget.
The biggest of them, in real estate and aviation -- industries underpinning the economy of the Middle East business hub -- posted lower profits.
The bad news started pouring in Wednesday morning with Damac Properties PJSC reporting a 68 percent drop in third-quarter net income. That was soon followed by lower profit at state-owned Nakheel PJSC, which built Dubai’s iconic palm-shaped islands, and Emaar Properties PJSC, the developer of the world’s tallest tower.
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