Dubai's Economy Still In A Slump, Say Some Analysts

Let's face it

Let's face it. The global recession has definitely left its mark on the shores of Dubai, and nowhere is this more evident than in real estate. If the recent advertisements for properties and real estate are anything to go by, the market it seems has certainly hit a slump in recent months. But even today, there are very mixed feelings on what the future hold for this once booming sector of Dubai's economy. While most experts are in agreement that the steep declines that the emirate's real estate market has suffered over the past year are over, some still choose to adopt a cautious attitude. The main questions that remain to be answered are whether a recovery is indeed underway and how much of a rebound is expected in the market One offshoot of this slump in real estate prices has definitely hit rental property values as well as evidenced in advertisements appearing in classifieds dubai. In fact most classifieds sites dubai concerning offers of residential arrangements on full or sharing basis have chosen to shrink their rents in light of the exodus of workers that Dubai has witnessed over the last year or so. The same is in fact true of classifieds sites abu dhabi and indeed over most of the UAE. What is more, the downturn has spilled over to the other sectors as well. For instance, electronics dubai was one sector that was experiencing robust growth, but of late even abu dhabi classifieds sites for this sector show signs of having cooled down. The capital of the UAE is also feeling the effects of the slump in economic growth. Thus if we compare the advertisements in the classifieds abu dhabi or even the electronics abu dhabi , we are likely to see a similar story.

By some estimates, people have even stopped relying on the classifieds websites dubai and the classifieds websites abu dhabi to carry their messages. Advertising on blogs, slips and messages near post offices and other public places seem more common for working individuals. Only companies can afford to use the uae classifieds websites to carry their messages.

There have recently been reports of a shuffle in the higher echelons of the Government agency arm entrusted with the implementation of Dubais development initiatives. Ministers at some key posts have been fired and replaced, as they clearly misread the signs. The point is that no one can effectively predict the future. The emirate of Dubai was recently bailed out of a sticky situation by Abu Dhabi as it struggled to pay off its debt commitments to the tune of 100 billion dollars. Clearly the rulers of Dubai do not want to make any more embarrassing mistakes.

by: Whatley

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