In what may be the most depressing Dubai property story ever -- at least according to Tom Gara over at Beep Beep -- The National's Angela Giuffrida reports that the number of new homes in Dubai is expected to grow by 34,300 over the next two years, despite the fact that the market is already 25 per cent over supplied. Glut city.
And the property market seems to have it in for even those whose
business isn't property. Tawhid Abdullah, the former chief executive of
the Middle East's biggest jeweller, quit Damas after US$165 million
(Dh606m) in unauthorised property transactions were uncovered, The National's Bradley Hope reports.
Morning round-up: Dubai is Glut City
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