Emaar's Alabbar predicts 'nice balance' for Dubai property market amid supply boost and easing prices
The property market in Dubai is set for a “nice balance” next year despite softening due to the Iran war, as the sector goes through a period of adjustment, Emaar Properties founder Mohamed Alabbar has said. “I'm getting ready for 2027,” Mr Alabbar told delegates at AIM Congress in Dubai on Monday. “A lot of supply is coming in, so I think there'll be a nice balance in the city.” When asked to…
Emaar Properties founder Mohamed Alabbar has declared that Dubai's property market will strike a "nice balance" in the coming year, despite the effects of the ongoing Iran war. The developer stated that the sector is undergoing a period of adjustment as a significant amount of supply is entering the market. Mr. Alabbar explained that an adjustment of 5 to 10 percent is expected due to the extraordinary situation, but acknowledged that if the situation stabilizes, the market could experience rapid growth.
Despite the uncertainty, Emaar, the largest listed developer in the emirate, has not resorted to discounting its properties to counteract the impact of the conflict. The company boasts strong cash flow and a substantial financial position. Mr. Alabbar emphasized that the current geopolitical crisis is not unique and that businesses with a long-term perspective have successfully navigated similar challenges throughout history.
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