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Overseas Property News
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Sale of Dubai property bonds put on hold
Country: Dubai, United Arab Emirates
30 November 2009 Dubai property developer, Nakheel, part of the Dubai world corporation, which is currently struggling with debt-related problems, has requested that Nasdaq stop trading its bonds, until matters are resolved. Nasdaq has complied by removing the bonds from the Dubai bourse. Markets across all sectors, not just property, in Dubai tumbled this morning with some major securities falling to almost the 10% permitted. The financial markets have been adversely affected by state-owned Dubai World’s request to freeze debt repayments of around £35bn, sparking concerns that the emirate’s economy is in bad health. Dan Nolan, a reporter at Al Jazeera, who broke the story, said: “It has been a bad day here [in Dubai]. The main bourse dropped 5.6% instantly [on opening today, following the Eid al-Adah holidays]. “Analysts said before they opened that anything more than a 3% drop would be a disaster. But others are pleased that it is not ore than the full 10% drop, which was certainly possible. “Selling orders are far outnumbering buying orders and that is of great concern. It is certainly worrying times at the stock market. “There are concerns that there will be another large decrease on the stock market tomorrow. But hopes are that it will increase next week.” Can the same be said for Dubai property prices during these turbulent times?
See Also: Al Jazeera, Dan Nolan, Dubai World, Marc Da-Silva, Nakheel, nasdaq
Some properties in Dubai, United Arab Emirates
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Price: £162,772
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Type: Apartment
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Bedrooms: 1
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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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View details | Enquire further
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Price: £181,616
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Type: Apartment
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Bedrooms: 1
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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.
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Price: £264,880
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Type: Apartment
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Bedrooms: 1,2,3
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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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Bedrooms: 2
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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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View details | Enquire further
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Price: £299,300
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Type: Apartment
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Bedrooms: 1
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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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Type: Apartment
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Bedrooms: 3
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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<
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Price: £731,763
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Type: Apartment
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Bedrooms: 3
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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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View details | Enquire further
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Price: £1,432,557 GBP
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Type: Apartment
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Bedrooms: 1,2,3
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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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Bedrooms: 5
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Developer Deyaar
Penthouse, Top floor
Full lake view
Floor 38
Area: 5,765 sq.ft
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