Featured
Dubai Forms Committee to Balance Property Market as Prices Slump

(Bloomberg) — Dubai will set up a committee to balance property supply and demand as a slump in prices weighs on developers in the Middle East’s business hub.
The emirate’s ruler Sheikh Mohammed Bin Rashid Al Maktoum said in a tweet he wanted the committee to ensure that “semi-government real estate companies in Dubai won’t compete with private-sector investors.”
Members of the committee will include companies such as Emaar Properties PJSC, Nakheel PJSC, Dubai Properties Group and Meraas Holding LLC, according to a statement posted on the government’s Media Office website.
Read: Dubai’s ‘Long Decline’ in Property Prices Isn’t Over Yet for S&P
Property prices in the U.A.E., the second-biggest Arab economy, have dropped about 27% since October 2014 amid excess supply and sluggish economic growth. Emaar Properties, the biggest developer in Dubai, last month posted a 4% decline in first-half revenue.
The Dubai Financial Market Real Estate Index has gained about 8.6% this year after tumbling 39% in 2018.
-
Banking & Finance2 months ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
OER Magazines1 month ago
OER, July 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, July 25
-
Education2 months ago
Russia offers diverse tourism and education opportunities: Sofia Malyavina
-
Digital1 month ago
Russia’s Digital Frontier: An Inside Look with Alexey Goreslavsky of IRI
-
News4 weeks ago
OpenAI Strengthens ChatGPT’s Mental Health Safeguards Ahead of GPT-5 Launch
-
Energy2 months ago
Oman Investment Authority launches the Sultanate’s First Energy Transition Fund
-
Business2 months ago
Need to rebuild trust and collaboration says Alexander Stuglev, Chairman & CEO of the Roscongress Foundation
You must be logged in to post a comment Login