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Overseas Property News
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Dubai property sector could get state help
Country: Dubai, United Arab Emirates
17 February 2009
The Dubai property market may get state assistance in order to help it through the existing economic slump, a member of a Dubai committee formed to challenge the fallout of the global financial crisis said yesterday.
“Everyone is facing challenging times,” Omar Bin Sulaiman, who is also deputy chairman of the United Arab Emirates Central Bank, told Reuters. “You have already seen some help and I am sure you will see some more."
Property prices in Dubai are currently plummeting at an alarming rate, with billions of pounds worth of housing projects already scrapped, as the emirate comes to terms with the economic crisis.
The UAE finance ministry and central bank have together already launched £22.9bn of funding facilities to help banks cope with the crisis.
Meanwhile, the government is currently looking at ways to help troubled Dubai mortgage financers Amlak Finance and Tamweel, including a possible amalgamation.
See Also: Dubai
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DUBAI GATE 2
JUMEIRAH LAKE TOWERS
1 BEDROOM PLUS DINING ROOM
18TH FLOOR FANTASTIC VIEWS
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Price: £271,881
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Type: Apartment
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Elite Residence is destined to become one of the most exclusive and sought-after addresses in the Middle East, it is ideally located at the core of Dubai Marina, near significant city landmarks like Palm Jumeirah and the Mall of the Emirates.
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Price: £299,300
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Type: Apartment
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· Project: The Fairways
· Developer: EMAAR
· Tower: T1 / West
· Type: 1 BR
· Suite area: 709 Sq ft
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Price: £435,654 GBP
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This luxurious 3 Bedroom apartment is a distress sale and is offered below market price.
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Price: £731,763
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Elite Residence is destined to become one of the most exclusive and sought-after addresses in the Middle East, it is ideally located at the core of Dubai Marina, near significant city landmarks like Palm Jumeirah and the Mall of the Emirates.
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Price: £1,432,557 GBP
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The Mansion at Burj Dubai is an architectural masterpiece, its unique value proposition is that all homes within the 60-storey tower open to direct views of Burj Dubai, the world's tallest building, and the magnificent fountain on Burj Dubai Lake.220
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Price: £1,864,970 GBP
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Type: Penthouse
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Developer Deyaar
Penthouse, Top floor
Full lake view
Floor 38
Area: 5,765 sq.ft
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