Dubai’s real estate market has made a “hard landing” but lower prices may be a good time for investors looking to buy, according to a major Emirati property developer. “We had a slowdown in the economy, and in the property market since [2018 and 2019], things were already coming down,” said Hussain Sajwani, chairman of […] Read more
Dubai property prices rising again? Depends on where you are looking. According to Lewis Allsop of Allsop & Allsop, selective gains are showing up at The Springs. “We have a 2E that we sold eight months ago for Dh2 million that we have just re-sold for Dh2.07 million. “This may seem a small increment – […] Read more
Dubai property developer Nakheel has cut salaries by as much as half as the pandemic hits Dubai property developers and mall owners. The salary cuts took effect from April 1 and varied according to employee grades the developer said in a statement to Arab News. Earlier Reuters reported the job cuts and the departure of […] Read more
Dubai property magnate Hussain Sajwani has repeated calls for an immediate halt to construction, warning the city faces “disaster” if oversupply continues. “Nothing has changed,” Sajwani told World News Network moderated panel at the Salt Conference in Abu Dhabi on Wednesday. “The glut of supply we have, or we are going to have, will have […] Read more
