Lower oil prices seen cooling Abu Dhabi's resurgent property sector

April 21, 2015 1:37 PM

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DUBAI, April 21 (Reuters) - Lower oil prices are likely to cause Abu Dhabi's residential property sector to stabilise in 2015 following a two-year price boom as sentiment weakens and government spending in some areas slows, industry consultants say.

A slew of new residential units was released in 2009-12, just when demand was hit by the global financial crisis, creating oversupply and sending prices tumbling. The sector then rallied in 2013-14 because of broad economic growth and the United Arab Emirates' status as a safe haven in the Middle Ea...

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