No wonder it’s quiet in Hollywood. JANET JACKSON, JERMAINE DUPRI, MICHAEL JORDAN, CHRIS TUCKER and WESELY SNIPES (huh? I thought he had to surrender his passport) were just some of the celebs to join Lindsay Lohan, Samn Ronson, Mary-Kate Olsen and more for the grand opening of the Atlantis Palm Resort in Dubai.
More after the cut…
The Palm is a 1,539 room Ocean-themed destination resort. the $1.5 Billion venture is a owned by the government funded, Istithmar.
“It’s a big difference now, investors are quickly reducing prices,” adds Imran Aslam, agent at Dubai-based property broker AAA. “They are also finding they have too many properties, so they want to sell. At the moment, there are no stable prices in the market.”
hi
Overall it’s an informative post and i do agree what has been said over here. But i believe that signs of a market slowdown has been there since the beginning of the summer 2008. Also many fears that it is primarily due to liquidity crunch in the market as well as the Dubai property investors sentiment being low due to global economic slowdown. But you know that i consider it as temporary halt in the real estate investment activity and will recover from it, as the fundamentals of Dubai property market are quite strong then other global property markets.
I have stayed in Dubai for 2 years and the place is fantastic, it is really growing as a premium business center of Asia and in the coming days Dubai has a bright future.
Thanks
dubaipalmisland