Developers in UAE must ensure supply-demand balance | ZAWYA MENA Edition:
Real estate developers in Abu Dhabi need to be 'careful' not to affect the demand-supply balance otherwise everyone will stand to lose, a top official from Mubadala Investment Company said.
"A developer should ensure a right balance between supply and demand. At the end of day, an oversupply will affect the pricing and all of us will lose. So, we have to coordinate among ourselves on right products that come into the market and complement each other," Ali Eid Al Mheiri, executive director of Real Estate and Infrastructure at Mubadala, said on the sidelines of Cityscape Abu Dhabi. The three-day event will conclude today.
He noted developers in Abu Dhabi have enough work to finish for next 5 to 10 years rather than expanding into newer areas.
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