FINANCIAL NEWS

Dubai residential market remains stable in H1

03 Feb 2017

(MENAFN) The residential market in Dubai continued to soften last year, at a slower rate, while sale prices in the mainstream market fell 5 percent in 2016 compared to 7pct in 2015.

In the coming five years, the country prepares to host the Expo 2020; further government spending is projected to enhance the market.

Moreover, global corporate are projected to increase their commercial activity, using Dubai as a local hub.

However, there has been a slowdown in demand on the back of job cuts and corporate restructuring, sale prices remained flat given the availability of investment grade quality product.

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MENAFN0302201700450000ID1095233943

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