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COMMENTARY Dubai Debt Crises May Hit Property Sector

Category: Real estate, Posted:01 Dec 2009 | 13:25 pm

In the here today, gone tomorrow world of breaking news the current Dubai credit crises is without a doubt stirring up the worlds financial markets. With many Middle Eastern powerful SWF (sovereign wealth funds) not intervening such as Abu Dhabi, Qater or the Emirates there remains much nervousness in Asia which has considerable exposure both in trade with Dubai and investments.
Property prices in Dubai has taken a serious hit and in many cases devaluations seen in the region of 40-50%. It's unclear if the crunch will be seen in isolation or create ripples abroad. Interestingly Spain which has an oversupply of 1 million residential units with many of these being holiday or vacation homes yet the impact was not seen on these shores.
Perhaps the most non tangible effect will be in pushing luxury and resort grade property purchasers to the sidelines who worry about not the property markets themselves but a lack of clarity on the impact to the global financial area. As seen from the GFC (global financial crises) sentiment can play often play a larger factor then reality and a small whisper on the continent next door can create a lion's roar on your very own doorstep.

Other News

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The C9 Sessions – The Growth of Branded Residences in the Philippines

Category: Real estate, Posted:23 Jan 2025 | 11:33 am Branded residences and mixed-use projects are becoming a significant player in Philippines’s hospitality space. As property developers, real estate investors and property buyers are learning, this is a complex space that requires well-structured projects. Join us for a unique 90-minute learning session about all the moving parts in this rising marketplace. The session will feature […]
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Video Sessions From Thailand Tourism Forum 2025

Category: Hotels|Real estate|Tourism, Posted:22 Jan 2025 | 08:18 am In case you missed the Thailand Tourism Forum 2025 in Bangkok last week or did attend, and want to rewatch some sessions please find video links to all below. The event drew over 1,000 attendees and was the 14th year for TTF. We look forward to returning in 2026, but for now please enjoy the […]
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Gamechanger: Phuket’s 80-Meter Development Height Restriction Repealed

Category: Hotels|Real estate, Posted:31 Dec 2024 | 11:19 am One of the most significant changes to Phuket’s real estate sector this year is the repeal of the 80-meter development height limit. In a recent Government Gazette, the Thai Cabinet approved a re-zoning proposal by the Minister of Natural Resources and Environment, which now allows development in Zone 6 of Phuket to extend up to […]
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