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The Independent UK
The Independent UK
National
Jon Gambrell

Dubai boom sees Russian cash, high rents and reborn projects

AP

Fourteen years after a financial crisis nearly brought Dubai to its knees, several major abandoned real estate projects are finally showing signs of life as part of a new economic boom in the city-state.

As with previous upturns in Dubai, war is a driving force. But this time it’s Russian investors fleeing Moscow’s war on Ukraine, rather than people escaping Mideast battlefields.

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