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# A Turning Point in Dubai, the Hub of Middle Eastern Wealth......
Dubai's real estate index plummeted 30% in 8 days. On the night missile fragments fell on the Burj Al Arab, half of my friends living in Dubai started booking tickets back home. As soon as the US-Iran conflict erupted, air raid sirens became the daily background noise in Dubai, and US investment banks in DIFC began issuing evacuation notices to employees.
Those who spent tens of millions buying properties in Dubai saw their wealth evaporate by half overnight, and the once-booming luxury real estate market was directly cut in half. No one knows how far the conflict will escalate, and perhaps the Middle East has never been a good safe haven for assets.