Sunday, February 24, 2013

Cash is king in Dubai's real estate market

Andrew Day’s heart was pounding, his hands sweaty as they grasped a bank cheque writing away the life savings of both he and his wife. Sitting opposite, a real estate agent dangled keys to a three-bedroom apartment on the Palm.

“It was a bit scary,” Day tells Arabian Business.

“We could see the keys in his hand. The money was in mine and it was quite literally [a matter of] swapping the two.

“The land department guy disappeared for half an hour. Forty-five minutes later - purely because of the traffic - we were in our new house; it’s that simple, it’s done.”

Read moreL http://www.arabianbusiness.com/cash-is-king-in-dubai-s-real-estate-market-490438.html

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