Dubai mega-projects are back but laced with realism | GulfNews.com:
"A number of us who have been in the region over the past decade associate the UAE and, more specifically Dubai, with mega-projects, some really successful and some not. Development activity has returned to the UAE over the past 18 months initially starting with Dubai, then Abu Dhabi and, more recently, in the northern emirates.
A number of real estate industry experts, including JLL, had raised the issue of unsustainable price rises and irrational exuberance during the latter part of 2013 and first quarter of 2014. Thankfully, measures taken by the authorities have resulted in some cooling down of the market with reduced growth in sale and rental values, as per JLL’s recent Dubai Q2 Market Report. (Albeit, rental growth in Abu Dhabi continues after the removal of the rent cap.)
It is interesting to note some of the differences between large-scale projects before and after the financial crisis. Based on our involvement in several high-profile projects, it is clear that lessons have been learnt."
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