There was a time when the construction in the emirate seemed to be unending. The sounds of hammers and chisel were omnipresent even in the night. Now this all has come to a halt resulting in unemployment. The property prices have come down. hotel room rentals have also come down.The boom in the real state is over now.

The hotel industry of Dubai was in a state of shock, when the reality sector sank in. the need of the hotels in the Dubai was overestimated. Asia Asia planned to be the world’s largest hotel. The rentals are still high enough for the hotel rooms, which looks expensive even to the westerners. The state will have to make things affordable to save the economy. Otherwise it will be difficult to tide over the situation.

It will take some time before we can hope for Dubai hotel bookings to full capacity. Most of the Dubai hotels have slashed their rates in order to get over the crisis. The intense competition in the hotel industry is becoming a boon for the customers.

The recovery in the economy and hotel industry evidently will depend on many factors like doing business,construction etc. There is a report that the news that rentals for residential property have fallen 38 percent since 2009,with 18 percent decrease in Abu Dhabi.

To be positive, the recent increase in the investing activities is a good sign of recovery.Exess liquidity and easy moneatary measures resulted in the low interest rates. Dollar depreciation led to flow money out of banks into property.

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