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Inflation and interest rate hikes around the world have brought about fears of a global economic downturn. The UAE’s forex, the dirham, is pegged into the dollar, indicating it's got adopted lock-stage the hikes imposed by the Federal Reserve. But money nonetheless remains king for Dubai potential buyers, with fourth-fifths of transactions paid out in forex without funding in 2022, claimed Faisal Durrani, the head of Center East research at housing agency Knight Frank.
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Inflation and desire fee hikes throughout the world have brought about fears of a global economic downturn. The get more info UAE’s currency, the dirham, is pegged for the greenback, indicating it has adopted lock-step the hikes imposed from the Federal Reserve.
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Nakheel, the state-owned developer driving the Palm Jebel Ali, has relaunched growth options for it. The developer also unveiled a multibillion-dollar program to develop eighty resorts and motels on the man-created Dubai Islands, though it stays mostly vacant and underneath the flight route of the nearby Dubai Intercontinental Airport, the world’s busiest for Intercontinental journey.
” Dubai also hosts the UAE’s House Middle, that has despatched a probe to Mars and unsuccessfully tried to set a rover to the moon.
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