Dubai property sector remains optimistic
A media outlet has noted the prevailing sense of confidence at this week's Cityscape conference in Dubai.
The event attracts many of the biggest investors, designers, property developers and contractors in the emirate.
According to the Wall Street Journal, these groups are apparently optimistic about the market's future prospects.
This is despite the fact that many of the world's biggest economies are dealing with a crisis in the banking sector, which has forced some governments to bail out financial institutions.
"After spending a few hours at Cityscape, you just might forget about the financial crisis gripping much of the rest of the world," the Wall Street Journal said.
The publication added that in the last few years, house prices in Dubai have "rocketed".
Meanwhile, financial services group Nexus has encouraged owners of property in the region to make sure they are insured.
The firm's Michael Walton told the conference that insurance cover plays an important part in protecting a person's biggest assets.
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