19.04.2013 - Dubai housing market is seen bouncing back
Another 40,000 new homes will enter Dubaiís property market over the next two years as developers revive projects stalled after the collapse of the emirateís real estate market, a report said. The new properties to be built between 2013 and 2015 will represent 11 percent of the current stock of 357,000 units, consultants Jones Lang LaSalle said in a report on Dubaiís real estate market for the first quarter of 2013. It said that a total of 28,000 dwellings are expected to be completed in 2013. Around 2,200 residential units, mostly apartments, have already been handed over in Q1 of the year, which include the Spirit Tower in Dubai Sports City, Lakeside Tower in JLT, Bay Central in Dubai Marina, as well as the Al-Furjan Villas by developer Nakheel.............................................Full Article: Source
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