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Dubai: the plentiful supply of high quality new office space has not created property loan problems yet |
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On the surface, prospects for the United Arab Emirates’ financial sector look good. The banks are delivering healthy profits and are well capitalized, the local economy continues to thrive on the back of higher oil prices and the financial system has recovered from the shock of seeing an expatriate Indian businessman flee Sharjah last year with outstanding debts of more than $245 million.
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