An aerial view shows the landmark Burj Al-Arab Hotel (R) and the Burj Dubai (rear C), the world's tallest tower built by Emaar property developer, in the Gulf emirate of Dubai on December 17, 2009. AFP PHOTO/MARWAN NAAMANI
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Emaar Properties PJSC is offering hundreds of new luxury homes in Dubai that could sell for as much as 3.8 million dirhams ($1 million) each just as the city's residential real estate market posted the world's biggest price decline.Home prices dropped by 12.2 percent in the 12 months through June, the biggest decline among 56 residential markets tracked by broker Knight Frank.One-bedroom apartments in Creekside 18 may sell for about 1.3 million dirhams, two-bedrooms for between 1.5 million and 2 million dirhams, while three-bedroom units could sell for as much as 3.8 million dirhams, according to two property brokers who asked not to be identified because Emaar hasn't officially announced prices yet.
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