UAE: Nakheel to cut 500 jobs

%3cdiv%3e%3cspan style%3d%22font-size%3a 10pt%3b%22%3eNakheel%2c Dubai’s state-owned property group is to set to make up to 500 redundancies now that The emirate%27s %22Cityscape Dubai 2009%22 show is over.%3cbr /%3e %3cbr /%3e %3c/span%3e%3c/div%3e %3cdiv%3e%3cspan style%3d%22font-size%3a 10pt%3b%22%3eThe developer responsible for the iconic artificial island%2c Palm Jumeirah is expected to make an official announcement in the next few days according The Independent. Commenting on the move%2c a spokesman for Nakheel said “Nakheel continues to evaluate its projects and commitments against market conditions and opportunities. In doing so%2c the company also evaluates its cost base and efficiencies.%22%3cbr /%3e %3cbr /%3e %3c/span%3e%3c/div%3e %3cdiv%3e%3cspan style%3d%22font-size%3a 10pt%3b%22%3eReal estate prices in the emirate have fallen nearly 50%25 over the past 12 months and %3ca href%3d%22http%3a//www.globaledge.co.uk/news/dubai-experts-disagree-on-market-future-35365%2520%22%3eexperts disagree on future direction of the market%3c/a%3e%3cbr /%3e %3c/span%3e%3cbr /%3e Full story on %3ca href%3d%22http%3a//www.independent.co.uk/news/business/news/job-losses-on-the-horizon-for-palm-firm-1801428.html %22%3eThe Independant%3c/a%3e%3cbr /%3e %3cbr /%3e %3ch3%3eRelated Links%3c/h3%3e %3c/div%3e %3cul%3e %3cli%3e%3ca href%3d%22http%3a//www.globaledge.co.uk/real-estate-news/uae/1074%22%3eLatest UAE Property News%26nbsp%3b%3c/a%3e%3c/li%3e %3cli%3e%3ca href%3d%22http%3a//www.globaledge.co.uk/developments/uae/1074%22%3e UAE property development deals %3cbr /%3e %3c/a%3e%3c/li%3e %3cli%3e%3ca href%3d%22http%3a//www.globaledge.co.uk/advertiser/details/15517%22%3e%26%23163%3b100 free UAE sales leads%3c/a%3e%3c/li%3e %3cli%3e%3ca href%3d%22http%3a//www.globaledge.co.uk/real-estate-partners/uae/real-estate-agents/1074-10954%22%3e Find UAE agent partners %3c/a%3e %3c/li%3e %3c/ul%3e %3cp%3e %3c/p%3e

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