Renewed brand identity centres around the belief that “Food is a Blessing”
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Real estate prices have fallen by around 40 per cent in
“
“At the same time it is seeing an increased output. We think the net result of that is lower occupancy rates, going down to the 80 per cent level which will mean a correction in the rents.”
Dubai’s population was likely to fall 5 per cent in 2009 on job losses, while the population of the UAE would ease 1 to 1.3 per cent, Shuaa said.
Rental rates for apartments and villas have been levelling off throughout 2008, with an average growth rate of 4 per cent and 8 per cent respectively, property services firm Asteco said in a report last week.
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