Dubai forecast to add 127,000 more homes before 2023 - Arabianbusiness:
Dubai Government initiatives, including the formation of a new real estate committee to regulate and control future supply, are expected to support the emirate’s residential sector in 2020, according to new research from CBRE.
Its report also reveals that there is a continued push for residential developments to be completed before the start of Expo 2020, which is set to welcome more than 25 million visitors over a six-month period from October 2020 to April 2021.
CBRE also said developers are introducing a number of schemes to further stimulate the market including rent-to-own initiatives, waived completion fees and new residential “co-living” schemes.
Figures from CBRE demonstrate that existing supply at the end of 2019 stood at 608,500 units in the emirate, with an additional 127,000 units expected to be delivered by 2023.
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