The Chief Executive of Deyaar, Saeed Al Qatami, Development assured that Dubai property market is still robust despite the negative speculations in addition to the steep drop in prices and transactions value.
Al Qatami added that it’s hard to forecast the future of real estate, like in 2008, nobody expected that a financial crisis lies three months ahead.
He pledged also to complete 90% of Deyaar’s residential project “Midtown” which comprises from 2,500 units by the end of 2020.
In another respect a wave of new projects have been launched during the first half of this year despite that properties prices declined by 10%.
A report issued by Cluttons about UAE property market mentioned that 41,000 off-plan units have been announced so far this year. Half of these units are located at Nashama’s Town Square project.