Sales are up !

[Wannaberich]

ARABIAN BUSINESS:

'EFG-Hermes said anecdotal evidence showed sales and the number of deals made at last week's Cityscape real estate exhibition were down on previous years, given the more cautious approach from some investors and uncertainty in the markets.

However preliminary transaction figures provide a less gloomy picture, with deals registered with the Dubai Land Department during Cityscape totaling nearly 2.5 billion dirhams ($681 million) in 2008, up from 2.05 billion dirhams last year and 657 million dirhams in 2006, EFG-Hermes said'

Sales were actually up.So not all bad news despite the credit crunch.

 

[monsi]

At the moment there are very few places people want to store their money.

Dubai must seem like the best show in town. The stock market fluctuation in the Middle East can be ignored, that was just a temporary infection from the Western banks that are under-capitalised.