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Dubai to get boost in property supply
- United Arab Emirates: Wednesday, July 09 - 2008 at 10:33
Real estate supply in Dubai may catch up with demand as early as next year, but any dip prices is likely to be moderate, according to a new report by ratings agency Fitch. New homes coming on to the market will reach record highs in 2009-2010, the report says, adding that a glut of office space could also emerge in the same period. However, with government-related entities controlling an estimated 50% of Dubai's upcoming property stock, it is unlikely that these companies will flood the market.
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Jeff Florian, Senior ReporterWednesday, July 09 - 2008 at 10:33 UAE local time (GMT+4)
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This article was updated on Wed Jul 16 2008.
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