Essay: Property Prices in Dubai
With rapid downward property prices, the policy makers at the heart of the emirate have attempted to stem the tide by taking measures to protect the development that had been taking place for a sustained level of time.
This ailment has been coming from Abu Dhabi, one of the richest emirates in the combined United Arab Emirates. Its oil rich resources have allowed it to have massive reserve. Thus Abu Dhabicame to the rescue by purchasing nearly $10 billion in Dubai’s bonds through the UAE’s central bank (DubaiA new world). This has been the impetus that the policy makers were looking for. It has helped restore some level of confidence in the Real Estate business and the dripping cost of insurance is also a testament to the case that it is working to some extent (Pandit).