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UAE builders face Catch 22 on regional diversification

UAE builders that aggressively moved to diversify outside of Dubai during the global downturn now face exposure to the political turmoil in the region, and investors are getting nervous.

Dubai-based developer Emaar, best known for building the Burj Khalifa, has Dh4.2 billion worth of projects in Egypt, about 15 per cent of its book value. UAE developers and construction companies also moved into Libya, Tunisia, Saudi Arabia and Bahrain in recent years as they tried to move away from the struggles of the Dubai property market.

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