Dubai’s Desperate Realtors Told Not to Hound Clients at Showcase - Bloomberg:
Gone are the days of dancing fountains, sky gardens and scuffles for the latest outlandish project. Dubai’s property showcase is a much more subdued affair this year.
As the city’s real estate sector suffers its worst run since the 2009 global crisis, Cityscape Global -- the emirate’s largest annual real estate conference -- is also adjusting to the new reality.
Some of Dubai’s flagship developers such as Emaar Properties PJSC -- builder of the world’s tallest tower -- and Damac Properties that built U.S. President Donald Trump’s golf resort in the emirate -- were notably absent from the event that started Wednesday. Many of those that did show up -- such as Nakheel PJSC, which built the palm-shaped islands and teetered on the brink of default almost a decade ago -- peddled existing developments.
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