In Dubai, a city known for some of the world’s most luxurious hotels and penthouses, developer Union Properties PJSC is looking to tap demand from people who want to visit the sheikhdom without breaking the bank.
Residential and commercial rents in Abu Dhabi are expected to drop further as homes and offices are built four years after the credit crisis roiled the United Arab Emirates’ real estate market, according to CBRE Group Inc.
U.S. House Speaker John Boehner rarely casts floor votes, following his office’s tradition. When the Ohio Republican has voted this year, Arizona Democrat Ron Barber sided with him more often than not, while Republican Walter Jones of North Carolina usually didn’t.
Dubai, the Persian Gulf sheikhdom with the tallest building and biggest shopping mall, plans to build a Ferris wheel that would beat New York’s attempt to set the world height record with a Staten Island attraction.
Nakheel PJSC, Dubai’s biggest developer by assets, told creditors it wrote down its real estate by 78.6 billion dirhams ($21 billion) after property values in the Persian Gulf emirate fell by more than half.