Dubai pursues property wonders despite signs of slowdown
A complex of theme parks that includes the region’s first Legoland is rising in the Dubai desert. A canal that will boost the amount of sellable waterfront property is being dug under the city’s main artery, in view of the world’s tallest building. The planet’s biggest Ferris wheel is going up, too.
But there are signs that Dubai’s heady boom-bust-boom property sector is once again cooling.
A ranking of house prices released by London-based property consultancy Knight Frank ahead of the annual Cityscape Global real estate extravaganza, which began Tuesday, found Dubai was the worst performer among 56 global markets.