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 predicted a "nice balance" for Dubai's property market next year, despite the negative impact of the Iran war. Speaking at AIM Congress in Dubai, Alabbar stated, "I'm getting ready for 2027. A lot of supply is coming in, so I think there will be a nice balance in the city." He estimated the Iran war's impact on Dubai's real estate sector to be a 5% to 10% adjustment, assuming the situation settles.
Despite the uncertainty, Emaar, the largest listed developer in the emirate, has not resorted to discounts, focusing on selling quality products and maintaining strong cash flow. The ongoing conflict has affected various sectors, including hospitality, aviation, real estate, and tourism. Alabbar compared the current crisis to others throughout history, emphasizing that businesses with long-term perspectives can weather such challenges.
Emaar, with 90,000 units under production globally in 18 markets, remains committed to expansion, unveiling a Dh200 billion megaproject in Dubai that will house nearly 150,000 people. The developer believes that crises typically have a short lifespan, and he is preparing for the day after.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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