Rebound in Dubai house prices unlikely as supply pipeline grows | ZAWYA MENA Edition:
"Dubai's residential market "shows few signs of bouncing back quickly" from what is now a three-year downturn, according to note published by the National Bank of Kuwait (NBK). Citing numerous data sources, the note states that there is only 'moderate' demand for residential property in Dubai, but supply continues to rise as new developments hit the market. Supply “is expected to grow over coming quarters," it said, citing figures from real estate consultancy firm JLL, which forecast a 9 percent increase in supply this year. The NBK note said that within the first few months of this year, some 17,000 new homes are due to complete including the New Dubai Gate project at Jumeirah Lakes Towers, The Pad at Business Bay and Eagle Heights in Dubai Sports City, among others. Although delivery numbers are likely to slow in the second half, supply is expected to increase by a further 8 percent in 2019, it added."
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