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The market is already stabilized. You will not see any down fall for sure except the few Areas which are almost dead, like Dubai Land, Water Front, and The Villa Etc.
A good thing that more than 500 Residential project has been cancelled, which were expected to deliver more than 100,000 Units. We are seeing the same case in Ajman. Dubai Economy is getting better than before, Many Mega Projects are expected to launch in September, Reducing the Trade Cap in Biz, Removing the Bank Guarantees for setting up business has brought newcomers from all over the world. It means new jobs are on the way. Dubai Airports has shown the record growth since the crises started, which is around 15%. The Market will not act as fast as it was earlier. But we will see number of overseas investors again to invest in Dubai. I have even heard that Russians / Indians all together are planning to buy almost 60% of the ready properties in Dubai, Targeting Burj Dubai, Palm, and Emirates Hills Only. Dubai Holding, Sama Dubai, Rimram is also expected to be merged in October. PJSC Emaar & Others is in plan to merge later this year. It means they will have 10 times more money to organize the communities & to market their property with No bankruptcy guarantee. An agent having the solid network can again make UN expect Money.
I have this information mixed from Arabian business, business 24 by7, meed, ameinfo, Reuters, nationals business, zawya, eye of Dubai & Dubai biz city guide & many other Media Channels. If you have any more information, please let us help to grown our knowledge.
Research report from international property consultants shows that the level of real estate property business has remained constant in the first half of 2009. The reduction of gap between asking and achieved prices is also indication that the Dubai real estate market is improving.
1570 days ago
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