Sunday, November 9, 2008

DAMAC Downsizes - Rumour Confirmed

You heard it here first folks, confirmation in from Arabian Business News that DAMAC Properties CEO Peter Riddoch has stated that "right sizing" is going on.

To see the article in full, go to At least 100 jobs go at property giant Damac.

We will be bringing more news about DAMAC and other "Investment Property" Developers around the world as we have it, and wherever possible we'll have it here before anyone else!

To see our prediction of this event last week, go to our post "Brazil Boom and an end to the Emirates" To give you an idea of things to come from the region, the laughable interview with Falcon City Of Wonders CEO Saleem Almoosa, take a look at "Blind to Recession - Or Just Sand in the Eyes?" Almoosa clearly highlighting that there is a severe lack of understanding of what is actually happening in the real world!

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