The rouaith the smooth

Cityscape Dubai, now in its seventh year had over 20,000 visitors a day.

Around 60,000 real estate professionals from over 120 countries attended. Nearly 75,000 sq m of exhibition space was sold out and opening times on the final day were extended by one hour.

Later in the week regional real estate prices enjoyed huge increases due to the UAE Government's decision to comfort and calm nervous investors by guaranteeing all bank deposits and savings. The move saw Gulf markets rise sharply as investors once again gained confidence due to the Governments decision to take real action.

The global credit crisis, however, continues to cast doubt and concern and the UAE is not entirely protected from this. For now though, the outlook is a little more upbeat and it is once again arguable that the property boom is still a fair way from over.

Kim Latham is the editor of Arabian Property English.

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