|
|
Home >
Overseas Property News
|
Job losses add to Dubai’s woe
Country: Dubai, United Arab Emirates
1 December 2008
Dubai’s residential market slump took a turn for the worst yesterday as Nakheel, the government-owned property developer, announced it was slashing 15% of its workforce and it emerged that Morgan Stanley and Credit Suisse also are cutting regional staff.
Developers across the emirate are altering, reducing and in some cases scrapping residential construction plans, in light of falling Dubai property prices.
Nakheel, which last month held a star-studded opening party for the Atlantis hotel on the reclaimed Palm Jumeirah, said it had made about 500 staff redundant in response to “current easing market conditions”.
Other property firms, such as Emaar and Damac, have also shed staff as the property downturn steepens.
Property agents in Dubai are reporting that home prices in some parts of Dubai have fallen by up to 50% in recent months.
Browse other Dubai property news stories, read articles about investing and buying property in Dubai or view our range of property in Dubai.
Some properties in Dubai, United Arab Emirates
|
|
|
|
Price: £105,038
|
Type: Apartment
|
|
|
|
An ideal investment opportunity, this studio is ideally sized and positioned to achieve excellent rental yields. Studio apartments on the marina are popular amongst business professionals looking for long term lets.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £166,348
|
Type: Apartment
|
Bedrooms: 1
|
|
|
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.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £185,606
|
Type: Apartment
|
Bedrooms: 1
|
|
|
Considered the tallest residential tower in the world, The Princess Tower is being constructed on a 37,410 square feet plot in the Marina area, known to be one of the most exclusive and prestigious areas in Dubai.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £194,936
|
Type: Apartment
|
Bedrooms: 2
|
|
|
A mid-level 2 bedroom apartment, this property has stunning views of the sea and the trunk of the palm. It presents an ideal investment opportunity as 2 bedroom apartments in The Torch are incredibly high in demand
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £264,880
|
Type: Apartment
|
Bedrooms: 1,2,3
|
|
|
DUBAI GATE 2
JUMEIRAH LAKE TOWERS
1 BEDROOM PLUS DINING ROOM
18TH FLOOR FANTASTIC VIEWS
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £277,855
|
Type: Apartment
|
Bedrooms: 2
|
|
|
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.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £286,835
|
Type: Apartment
|
Bedrooms: 3
|
|
|
This property boasts truly spectacular views as its situated towards the top of the worlds tallest residential tower.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £299,300
|
Type: Apartment
|
Bedrooms: 1
|
|
|
· Project: The Fairways
· Developer: EMAAR
· Tower: T1 / West
· Type: 1 BR
· Suite area: 709 Sq ft
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £435,654 GBP
|
Type: Apartment
|
Bedrooms: 3
|
|
|
This luxurious 3 Bedroom apartment is a distress sale and is offered below market price.
Located in one of the prime Towers in the most sought after location in Dubai – O2 Residence in Jumeirah Lake Towers<
|
|
View details | Enquire further
|
|
|
|
|
Prices from: €156,000 Bedrooms: 1, 2, 3, 4 Cohennoz: Great year round location. Mountain lifestyle, easy access to one of the best Alpine skiing areas.
More
Price: €230,000 Bedrooms: 2 Bathrooms 2 Contrada Ulmo, between Martina Franca & Ceglie Messapica. Restored. 1 ha land: DOC vinyard, olive/almond trees.
More
Prices from: Baht 2,790,000 Bedrooms: 1 & 2 Freehold apartments offering brilliant sea view. High quality designed kitchen with imported marble.
More
Price: €185,000 Bedrooms: 4, 2 ensuite showers Private sauna, garden, terrace. Metres from Super Borovets ski gondola & golf course. Surrounded by pine forests.
More
Price: €280,000 Bedrooms: 3 Renovated stone house, hilltop location offering panoramic sea & mountain views. Landscaped garden, private pool.
More
Prices from: €355,000 Bedrooms: 2 Luxury townhouses in the centre of a world class, championship golf course.
More
|
|
|
