The real estate sector in Dubai is largely controlled by three big property companies and their multitude of subsidiaries that are "directly or indirectly government owned," according to an August Morgan Stanley report on the Middle East North Africa property market. The report warned that, while long term market prospects looked good, 2009 may bring some negative news for investors. Risks facing the real estate market include falling investor confidence, the possibility of oversupply, and a price correction against sharp rises fed by a speculative market. From 2008 to 2010, the report predicted price increases of 25 percent in Abu Dhabi and 15 percent in Qatar and a 10 percent decline in Dubai.
http://www.nuwireinvestor.com/articles/dubai-real-estate-beset-by-scandals-and-uncertainty-52012.aspx
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