Moody’s: Negative Outlook For Arabian Gulf Property Driven By Supply-Demand Imbalance

Posted by property | Posted in Real Estate | Posted on 25-05-2010-05-2008

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Moody’s: Negative Outlook For Arabian Gulf Property Driven By Supply-Demand Imbalance
DIFC, May 24, 2010 — The supply-demand imbalance remains a key driver of the continued negative outlook for the property industry in the Arabian Gulf, says Moody’s Investors Service in a new Industry Outlook report.
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Property drops 2M
As a result of the “devastating impact of the Great Recession,” the county assessor plans to reduce the value of Gilroy’s properties by 2 million, for a cumulative reduction of 5 million. However, the city, which has about .6 billion in property value, anticipated this decline, and administrators said the city budget will not be radically affected by these plans. In total, 4,939 Gilroy …
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