Jones Lang LaSalle released a global market perspective report today that is cracking a hesitant smile for most of the world's property market and nearly grinning when it comes to the Middle East. <br/><br/>"The Middle East remains one of the few global regions where positive economic growth is forecast for 2009, with the IMF forecasting growth of 2.5 per cent in its April Global Economic Update," the report states. "After regional declines in the past six months, initial signs of stabilization have begun to emerge."<br/><br/>In the property sector, the report notes two pieces of good news. First, "plans for new office and residential supply in the Dubai market between 2009 and 2012 have been cut in half since mid-2008." And second, "almost $520 million of mostly residential real estate sales were recorded in Dubai in February, more than double the previous month."<br/><br/>But before you declare that the bottom is in sight, remember: "While the region's property markets have adjusted much more quickly than other regions, 2009 will be a year of correction. Markets will stabilize in 2010 ahead of a recovery of prices in 2011."<br/><br/>View the report here: <br/>