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Sun 29 Jan 2012 01:22 PM

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Dubai’s skyline on show in aerial tour of glitzy emirate

Despite Gulf emirate’s building bust in late-2008, iconic architecture still lights up skyline

Dubai’s skyline on show in aerial tour of glitzy emirate
Dubai was the Gulf's most active construction market during the five-year oil boom. (Credit: all images courtesy of Bloomberg News)
Dubai’s skyline on show in aerial tour of glitzy emirate
Property prices in Dubai soared after the city opened its real estate sector to foreign investors in 2002. (Credit: all images courtesy of Bloomberg News)
Dubai’s skyline on show in aerial tour of glitzy emirate
From start-2007 to mid-2008, prices rallied almost 80 percent, according to Morgan Stanley. (Credit: all images courtesy of Bloomberg News)
Dubai’s skyline on show in aerial tour of glitzy emirate
Property prices in Dubai had the biggest reversal in the Gulf because of the financial crisis. (Credit: all images courtesy of Bloomberg News)
Dubai’s skyline on show in aerial tour of glitzy emirate
Prices declined 60 percent in the wake of the global economic downturn. (Credit: all images courtesy of Bloomberg News)
Dubai’s skyline on show in aerial tour of glitzy emirate
Property rents in the UAE will hit bottom in 2012 with lease levels showing signs of an uptick in 2013, Jones Lang LaSalle said last week. (Credit: all images courtesy of Bloomberg News)
Dubai’s skyline on show in aerial tour of glitzy emirate
Dubai rents will “peak” in terms of its sliding rents over the next 12 months, said JLS. (Credit: all images courtesy of Bloomberg News)
Dubai’s skyline on show in aerial tour of glitzy emirate
Oil-rich Abu Dhabi will also see property rents steady but is unlikely to see the same price climb as Dubai, said JLS. (Credit: all images courtesy of Bloomberg News)