Emaar Says This Year Better Than Last Amid Housing Cycle - Bloomberg

Emaar Says This Year Better Than Last Amid Housing Cycle - Bloomberg:

"Emaar Properties PJSC is having a better year than in 2015, Chairman Mohamed Alabbar said, even as Dubai struggles to emerge from its most recent property downturn.
“If you ask me about Emaar’s numbers, I don’t see any pull back,” Alabbar told reporters on Sunday after a press conference for the start of a $1 billion skyscraper that will exceed the height of the Burj Khalifa, currently the world’s tallest building. “2016 for us is surprisingly better than 2015 and the balance between supply and demand is very encouraging.”
Dubai’s housing market, the biggest and most volatile in the Middle East, is struggling as falling oil prices, weaker currencies in Europe and Russia and an abundance of properties damp demand. Apartment sale prices dropped 1.9 percent in the first quarter, while villa prices rose 1.6 percent, Phidar Advisory said this month."



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