Flow of Capital to Dubai is one of the key factor in slump of realeste sector in pakistan.
Ref to discussion below.
New law "made" in Dubai that if you dont pay your Instalment in 30 days, your Booking will be cancelled and you may get 70% of deposited money after many years after the Project is complete and resold.
This will bring Dubai Property Price to new lows
http://www.arabianbusiness.com/538095-real-estate-defaulters-targeted-by-new-law
Mughal replied on Thursday, November 13, 2008 06:33 AM
This is extremely bad news for Pakistanis who gambled in Dubai. Now they lose 30% right away. |
Jameel replied on Thursday, November 13, 2008 07:33 PM
I think next 10 days are very crucial and realesate sector of DFM may come further low, already 100s of people working in these big companiues are losing jobs, Emmar announced the plan to cut work force. |
