Further slump in Dubai property prices expected after true extent of emirate's debt is revealed

[Nicholas Wallwork]

Property prices in Dubai which had been recovering in recent weeks could fall another 20 to 30% as*a result of the Emirate's massive debt problems.

Confidence in Dubai's property market has been seriously dented by the revelation that the state*owned Dubai World, parent company of master developer Nakheel, has debts of $59 billion and is*urgently restructuring.

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