Thursday, January 15, 2009
Population fall on job losses
Population fall on job losses: "Population may fall on job losses
Dubai’s population could shrink by up to eight per cent this year on job cuts in real estate and construction, according to a report by UBS.
The report estimates that over half of Dubai’s population is employed in the real estate and construction industries, which are suffering from a lack of financing.
“Anecdotal evidence suggests that 30 to 40 per cent of new infrastructure project launches in the UAE have been either delayed or cancelled with strict project and resource rationalisation underway,” the report said."
Dubai’s population could shrink by up to eight per cent this year on job cuts in real estate and construction, according to a report by UBS.
The report estimates that over half of Dubai’s population is employed in the real estate and construction industries, which are suffering from a lack of financing.
“Anecdotal evidence suggests that 30 to 40 per cent of new infrastructure project launches in the UAE have been either delayed or cancelled with strict project and resource rationalisation underway,” the report said."
