CNN focuses on Dubai property market
08 October 2009
CNN, the US-based news channel, will focus on the Dubai property market in its special shows for the Middle East region, starting from October 9.
The news channel is going to broadcast an interview with Mohammed Alabbar, Chairman of Emaar, the region’s largest property developer. In its segment for the region called: Marketplace Middle East, or MME, the channel will cover Cityscape Dubai 2009, the largest property exhibition in the region. The eighth edition of the event is set to conclude today. The property fair serves as a barometer for the Middle East’s property market.
Dubai has been hit hard by the global downturn, with prices here falling by more than 40 per cent, according to analysts. Projects worth billions of dollars are currently on hold due to the credit crisis.
Dubai is home to icons such as The World, The Palm and now the Burj Dubai, likely to open partly by the end of this year. This week MME sits down with Alabbar, the man behind the world’s tallest tower. In an exclusive interview Alabbar discusses delayed projects, Dubai’s debt and the lessons learned from the crisis.
Source: Khaleej Times