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FINANCIAL NEWS
Dubai to add 120,000 residential units in 10 years
13 Jun 2016
(MENAFN) Dubai’s launched projects and those announced for completion within the next 10 years could add a further 120,000 units to the existing supply.
Despite Dubai’s developers spreading out their new off-plan launches, work on their ongoing projects remains steady and will ensure the residential market is oversupplied until 2019.
“The benefit of this potential supply injection is more affordable and stable housing costs, a factor that can stabilize/reduce labor costs and support general business and economic growth Phidar Advisory said.
“Based on active construction projects, the three- and five-year demand CAGR (Compounded Annual Growth Rate) outpaces the supply CAGR, which will bring the market back to equilibrium.”
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