Many new Dubai homes won’t be delivered on time in 2016, JLL says | The National:
"The number of residential properties completed in Dubai last year was just 7,800 — considerably below the 25,000 units that had been forecasted by developers at the start of 2015, says JLL.
The property consultancy said in its annual UAE real estate market review that materialisation rates — ie the number of homes scheduled to be delivered that actually completed — has stood at just 30-50 per cent in recent years. As a result, it expects that much of the 26,000 units forecasted to be handed over this year will also not complete on time.
Sales of residential property across the UAE remained ‘subdued’ in 2015, JLL said, affected by the lower oil price, the strong dollar (to which the dirham is pegged) and geopolitical unrest."
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