We begin today's morning round-up with a plea for storm
photos. The National reports that the weekend's storms blew the roof of
of a warehouse under construction, killing three workers. If you've
seen evidence of the toll on any other buildings, send them to
cranecountry@thenational.ae.
Tamweel's chairman wants the Government to add liquidity to limit the drop in property prices, reports Uta Harnishchfeger of The National. Tamweel and Amlak, the two home lenders once on track to merge, all but stopped new lending in November and are now waiting a decision about their future.
And the Sama Dubai corruption trial inched forward yesterday, with witnesses telling the Dubai Criminal Court that reselling property on behalf of a third party and earning commissions on that sale is a normal and acceptable practice in Dubai's property market, reports The National's Hani M Bathish. Do you agree?
Elsewhere, Arabian Business reports on a March 26 EFG Hermes report finding that the UAE faces two per cent deflation in 2009, driven by a 50 per cent fall in Dubai rents.
But the prize for the grimmest property news this morning goes to Khaleej Times, which reports that Dubai freehold prices have dropped by as much as 70 per cent since last March, according to real estate brokers.