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Lootah: Dubai market is stable

UAE - March 17, 2016

The chairman of Nakheel Properties “Ali Rashid Lootah” believes that the real estate market in Dubai is stable and the current downturn in market performance is a good sign and positive trend.

Lootah mentioned during a conference held on the sideline of MIPIM exhibition in Cannes that the decline in properties prices is a positive trend as investors don’t want prices to be too expensive.

He added also saying that the market is currently stable and demand is stable too despite the decline.

In another respect, Lootah mentioned that Nakheel Properties is considering making a number of new real estate investments in three Asian countries.

The projects include a joint venture with a Vietnamese company in Ho Chi Minh city, in addition to other projects in China and Pakistan.

He said that the company is looking for diversifying its resources to get better financial results in the near future.

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