There is nothing unique about Dubai property. Yes, the emirate experienced a property bubble, but so did more mature markets in the US, Europe and Asia. Dubai's property-related industries will smart over the short term, but in the long term, the market is likely to emerge leaner, meaner and stronger.
As if to spite the downturn, Dubai's skyline remains speckled with cranes. The slender Burj Dubai, rising at least 629 meters into the sky -- it will top out at around 818 metres when complete -- sits amid the construction site that is Emaar's Downtown Burj Dubai development. At other grade-A office centres throughout the emirate the noise of hammers still interrupts three-hour lunches....
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