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Real estate is the dominant theme for the UAE in the foreign press this morning, with Damac Chairman Hussain Sajwani telling CNBC at the World Economic Forum in Davos that Chinese demand for real estate in the UAE is on the rise, replacing a wave of Russians initially drawn in by the post-pandemic surge.
GO DEEPER- Read our latest Enterprise Explains on Dubai’s soaring property prices on the back of an influx of foreign wealth, including b’naires from Russia and China.
Meanwhile, Dubai getting the world’s tallest residential clock tower is getting ink on CNN.Aeternitas Tower, which will be four times the height of Big Ben, will be built by Dubai real estate development company London Gate and Swiss watchmakers Franck Muller. Residents will be able to move in by 2027.
