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05-01-14

Economists warn bubble forming in Dubai's economy

(MENAFN) Economists have raised caution of a bubble forming after a year of rapid growth in much of the emirate"s economy, according to the National AE. Property market has registered its fastest pace in growth of about 12 percent in the last half, while Dubai"s stock market index was the world"s second-best performer in 2013. Sachin Mohindra, the portfolio manager of the GCC fund at Invest AD, an independent asset manager, said: "Winning the bid for Expo 2020 adds extra zest. "The only concern is that another bubble may be forming, particularly in real estate, but at least now everyone is talking about this as a concern."