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Archive for December 13th, 2008

Is Dubai`s Party over ?

Posted by 7starsdubai on 2008/12/13

original published http://www.newsweek.com/id/172641/page/1

Meanwhile, even the rich are feeling the pinch. christmasdxb

Last week the owner of a Mediterranean-style villa on one of the Palm Jumeirah’s beachy fronds facing the Atlantis dropped his asking price from $4.9 million to $3.6 million and then $3.13 million, and offered to throw in his Bentley as well. “Our client has his money stuck in the markets and he desperately needed it to run his business,” says real estate agent Anthony Jerish. “Still, nobody bought it. Maybe we will sell the Bentley separately. I don’t know.”

No, this isn’t the old Dubai at all.

read more….

http://www.newsweek.com/id/172641/page/1

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