DUBAI — Deyaar Development , one of Dubai’s largest publicly traded real-estate companies, Sunday posted a 69% decline in second-quarter net profit as the downturn in the emirate’s property market hit sales and project delivery….The company is a victim of the global financial crisis that is taking its toll on Dubai’s once-booming property sector, where prices have been sinking since the fourth quarter of 2008. By some estimates, real-estate prices are down about 40% since then.
By Stefania Bianchi, July 13, 2009, WSJ

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