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AME Info, Abu Dhabi, United Arab Emirates, real estate briefs
Nov 04, 2009 (AME Info - McClatchy-Tribune Information Services via COMTEX) --
DEYAAR TO DEVELOP RETIREMENT COMMUNITIES: Markus Giebel, CEO of Deyaar Development, said the company will allocate a third of its holdings to 'problem-solving' housing such as retirement communities to counter waning demand for real estate in the UAE, Bloomberg has reported. Deyaar will offer the units to elderly foreigners attracted to the region's warm climate, Giebel told reporters in Abu Dhabi.
DUBAI PROPERTY PRICES UP 7 PERCENT IN Q3: A new report by Colliers International has found that Dubai house prices climbed 7 percent in the third quarter, marking their first increase since the downturn in real estate began in 2008. However, property prices in the emirate are still about half of what they were a year ago, and prices could fall even lower as 34,000 residential units are expected to come online in the city in 2010 and 2011, the study warned.
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