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GOD’s priorities

May 26, 2009

Dubai’s housing market has struck the worst collapse worldwide, with properties depreciating at a stunning 50 percent: ‘The sheikhdom was hurt more by the global financial crisis than other property markets because of the construction boom that created thousands of new homes just as demand began to evaporate. Within a year, Dubai went from being the fastest rising of 46 markets monitored in the Knight Frank global house- price index to the second-biggest decliner after Latvia.’

Meanwhile, the ruler of GOD opened a new mall in al Mazhar, the first in a ‘series of malls, which will be constructed within next five years in different districts and quarters of Dubai.’ 

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