Friday, 11 November 2011

Alabbar sees Dubai homes market subdued to 2014 - Real Estate - ArabianBusiness.com

Emaar Properties chairman Mohamed Alabbar has said Dubai's real estate will remain a "challenging" environment for two or three years but house prices are beginning to recover.

He also said he saw "optimism in the city" and confidence among consumers and the government, resulting in growth in key sectors of Dubai's economy.

He said in an interview on Bloomberg TV that tourism was experiencing strong growth while spending this year was up, adding that "things were looking good" for the emirate.

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