Headlines have been screaming about the loss of profits, the job losses and the lack of money in the system as projects are put on hold and even cancelled.
But industry professionals are pointing out that behind the scenes a lot is being done to keep the property sector going even although expansion is a rare entity these days.
An overhaul of payment schemes making it easier for people to buy new homes is being explored by Abu Dhabi's second largest property developer, Sorouh Real Estate.
The company said plans could include a 'rent to own' financing scheme, which would see rental contributions going towards the cost of the down payment for the apartment.
'We are making sure we are structured to handle the market as it changes,' said Simon Cunningham the company's new executive director of sales and marketing. 'The market is shifting from speculators to investors to home owners. The big emphasis is helping customers find financing,' he added.
The announcement comes after other UAE real estate companies announced changes to their financing plans to encourage people to buy amid a downturn in sales, due to the global financial crisis that has led banks to stop lending.
Emaar Properties has also started helping would be owners with down payments and offering rent to own plans.
Also the Deyaar Easy Payment Programme was launched earlier this month. Under the scheme owners who cannot afford the 10% down payment on their respective properties can pay four tranches worth 2.5% each.
Meanwhile, Dubai based Union Properties is the latest developer to report a downturn in profits. The company made a fourth quarter loss of AED37.6 million ($10.32 million) due to lower land sales, it said.
And Kuwait's Abyaar Real Estate Development has signed an initial deal for loans worth 45m dinars ($153 million) from Global Investment House in a debt rescheduling plan.
Abyaar's Vice-President Marzouk Al Rashdan said the firm signed a memorandum of understanding with Global, Kuwait's biggest investment bank, to reschedule short-term debt worth in return for mortgaging some real estate projects.