Downfall of the World's Premier Real Estate Development Company

An Insult to Our Intelligence | October 29, 2009

Emaar reported $381M (259M Euros) in profit over the last nine months.  The company’s flooded the market with 5 star hotel rooms in a very slow market at the peak of global hotel vacancy rates, not to mention the 50% drop in residential home prices throughout the emirate.  There may be money flowing in, but it’s not from home sales or daily hotel rates.

http://emaar.com/index.aspx?page=press-release-details&id=946

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