Member Options
Login Register Why Register ? Forgot Password Activate Account

Property Search

Type All Apartment Penthouse Duplex Triplex Loft apartment Condo Town houses Villa Farm house Beach house Shop Office Unit Office Floor Retail Unit Restaurant Plot Bedroom All Nill Studio 1 2 3 4 5 6 7 8 8+ Area All Less than 500 Sq.Ft 500 to 1000 Sq.Ft 1000 to 1500 Sq.Ft 1500 to 2000 Sq.Ft 2000 to 2500 Sq.Ft 2500 to 3000 Sq.Ft 3000 to 3500 Sq.Ft 3500 to 4000 Sq.Ft 4000 to 4500 Sq.Ft 4500 to 5000 Sq.Ft More than 5000 Sq.Ft Price All Less than 500K AED 500K to 1000K AED 1000K to 1500K AED 1500K to 2000K AED 2000K to 2500K AED 2500K to 3000K AED 3000K to 3500K AED 3500K to 4000K AED 4000K to 4500K AED 4500K to 5000K AED More than 5000K AED

Real Estate News
Qatar’s property market maturing well AFP’s project under highly accelerated construction plan Realty Capital announces completion of 5th podium of i-Rise Property developers adjusting pricing and payment schemes Cityscape Abu Dhabi to tackle debate on global challenge

Property prices expected to fall about 20%

- February 5, 2009, 11:46 am

Property prices in Dubai could fall about 20% on average, the chairman of the emirate’s largest developer, Emaar Properties, said in an interview published last week. He did not give a timeframe.

Mohammad Al Abbar also said Emaar’s financial position was strong but the firm had no intention to buy back shares; however, it might consider delaying some projects if market conditions indicated a need to postpone putting new units for sale.

Asked about views that real estate prices could fall as much as 60%, Al Abbar told a UAE-based newspaper that the possibility of a decline of that size would be “illogical”.
“Prices in some areas will fall 10%, in others the decline would reach 30%, on average I expect the decline to reach 20% even if there were some units being sold cheaper because their owners are in dire need for cash,” he said.

Earlier this month, he predicted that demand for real estate in Dubai is likely to outweigh supply this year despite the fallout of the global financial downturn.
Al Abbar also heads an Advisory Council established by the Dubai Government to respond to the global financial crisis, which caused an downturn in the Gulf region. Property prices in the emirate dropped 23% in the last quarter of 2008, according to a HSBC report published last week.

Al Abbar said Emaar Properties has laid off 100 employees after the downturn but was not in financial trouble.

Meanwhile, Abu Dhabi announced plans to inject more liquidity through the banking system into the market to ease the effects of the global financial crisis, said Shaikh Sultan Bin Khalifa Al Nahyan, member of the Abu Dhabi Executive Council.
“There are plans to pump more liquidity into the market through the banks,” he told reporters after inaugurating the Abu Dhabi Real Estate and Investment Show, according to a Gulf News report.

Source - GulfNews

Related News

Emaar launches a ready-to-live-in ‘Open Home’

Emaar records annual net operating profits of Dhs5.578bn

Emaar Pakistan hosting roadshow in Dubai on July 16

Emaar unveils Standpoint residences on Burj Dubai Boulevard

Gulf real estate projects jump 59 per cent to USD143b

Latest News

Tameer announces ground breaking of Platinum Towers

Baniyas Investments awards contract to Saunders Global

ARRA sets deadline for the developer’s registration

Omniyat Properties current CEO to step down

Damac announces Completion of enabling works at Lincoln Park

News Archive

Currency Converter
From : U.A.E. Dirham Euro Pound Sterling U.S. Dollar To : U.A.E. Dirham Euro Pound Sterling U.S. Dollar