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Aaron Wise

Dubai Real Estate Index Sheds 18.1% After Iran War Starts as Bitcoin Gains 5.4%

Since airstrikes on Iran began at 1:15am New York time on February 28, Dubai’s real estate sector has dropped far more sharply than bitcoin prices. Over the 10 days to Monday, the DFM Real Estate Index slid 18.1% while BTC climbed 5.4%, and flagship developers like Emaar and Aldar also recorded significant declines. The shock has wiped out Dubai property’s year-to-date gains and is pressuring valuations built on an influx of wealthy crypto investors.