Sep 28 2010 |
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UAE: Property sales show warm front
Real estate transactions in Dubai during the first six months of the year totalled $2.62 billion according to the latest data.Dubai Land Department said 1,188 sales had been recorded in a report to the London Stock Exchange.
That is compared to 2,327 sales during the whole of last year.
On Sunday however, Dubai Islamic Bank was granted the right to increase its stake in Tamweel , effectively taking control of the troubled lender. It is hoped this move will boost the recovery in the real estate sector.
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