Dubai's real estate slump to last until 2020- S&P | ZAWYA MENA Edition:
"Dubai real estate prices could decline by 10 to 15 percent over the next two years, hit by new supply, geopolitical risks and the introduction of value added-tax in the United Arab Emirates, S&P Global Ratings' analysts said on Tuesday. The grim prediction came after Dubai residential prices fell by 5 to 10 percent in 2017, and the weak property market has also begun to hurt earnings of the emirate's top property developers. "We believe this correction will continue at least for this year and next, before prices stabilise in 2020 at the earliest," said Sapna Jagtiani, S&P's credit analyst for corporate and real estate ratings."
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