Dubai Property Market Recover in 2011


The market of the Dubai real estate will recover in 2011 after a fall of the prices this year, senior officer of development PJSC of Deyaar known as. It's may be the condition of Low Prices Dubai Property untill 2011.

Even Dubai and Abu Dhabi The Top City fo the right now, but in 2009 will be the year of the reduction for Dubai Property, Markus Giebel, the President of the real estate company, said in an interview during the annual meeting of the Middle East of the economic forum of the world to the Dead Sea in Jordan. 2010 will be probably a year of stabilization, and in the 2011 we believe that the re-establishment will occur.

King Abdullah II accomodates Ministers for Finance, governors of the central banks and executives of the hundreds of companies to the three day old gathering.

Dubai, the second-biggest of the seven to declare who compose the United Arab Emirates, fact face with a deceleration of its industry of property once bright while the total banks of forces of crisis of credit to be plastered on the loan of mortgage and the speculators are run away. The prices of Dubai residences  tumbled down 41 percent in the first quarter as from December, international of Collars called in a report/ratio of April 28.

The domestic prices in Dubai, the businesses of Persian Gulf and the hub of tourist, were almost reduced by half since their peak in August 2008 and are on the level low since the second quarters of 2007, Colliers indicated. The prices had quadruple survey since 2002 when the government allowed foreigners to buy the property in some parts of the Emirate.

Deyaar, which put a quarter of its projects at Dubai Property on the catch, will announce funds of property of 500 million-dirhams ($136 million) to buy the capital afflicted into two to three weeks following, Giebel said.

Stabilize the prices

It will invest mainly in the properties afflicted with Deyaar which were turned over to them and will help to stabilize prices, it said.

The economy of Dubai will probably increase 0.5 percent this year, privileged PLC standard said. The growth of Dubai was close to 8 percent last year, according to Raed Safadi, principal economist at the department of Dubai for economic development.

The UAE and five other Arab states of Gulf appreciated an economic boom while the oil prices increased and of the governments invested in the real estate and the industrial projects to diversify their economies. The six countries of Gulf, including Saudi Arabia, Qatar and Kuwait, pump almost a quarter of crude oil of the world.

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7 comments:

  1. LeD'z says

    dubai is one of the fast growing place in terms of economic status..they will surely recover..:)
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    adrin says

    Real estate market in Dubai will definitely recover.

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    Patrick says

    It is just so tempting to abandon the real estate business (at least temporarily) right now. However I’ll look into your ideas. Thanks

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    pjeary says

    This sounds really interesting. I haven’t heard about anything like this previously. I have huge interest in real estate. Thanks

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    Patrick says

    Nice real estate blog. I have bookmarked. Thanks

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    find says

    Has anyone done a short sale in Real estate? Let me know what the lenders are looking for. Anyway thanks for this great post.

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    Maz007 says

    The development of new infrastructure goes on and a surplus in real estate is feared, but because of its popularity with investors around the world, buying will continue to rise. For more information on real estate in Dubai visit http://www.flyingcolourrealestate.com/


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