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Emaar chairman says Dubai’s property market set to rise

Posted on 30 November 2010

From Thenational.ae: Dubai’s property sector has bottomed out and will spend much of the next two years on the rise, says the chairman of the emirate’s biggest developer. Mohamed Alabbar, the chairman of Emaar Properties, said yesterday Dubai was oversupplied but the situation may correct itself within 20 months, a projection analysts called optimistic given an estimated supply overhang of 80,000 units in the next two years.
“In terms of equilibrium between supply and demand, I feel that’s probably optimistic,” said Richard Paul, the head of residential valuations at Cluttons, a property consultancy……………………………………….Full Article: Source

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