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- Qatar, Germany discuss mutual investments to strengthen ties
- Al Ahlia wins contract to build largest Merc-Benz facility in Kuwait
- Quarterly earnings announcements, tariff hold support stock market's rise: financial analyst
- Gold rebounds on dip buying despite US-China trade deal hopes
- China says US should revoke unilateral tariffs, denies talks
- Saudi Awwal Bank signs SR2 billion credit facility with Saudi Binladin Group
- World Bank forecasts MENA growth at 2.6% in 2025, 3.7% in 2026
- Oil Updates - crude steadies after 2% drop on potential OPEC+ output increase
- PIF-owned AviLease secures $1.5bn credit facility to boost global expansion
- Saudi Arabia ramps up mining investment as sector outpaces global peers
30/11/2010 00:00 AST
Prince Alwaleed has predicted that Dubai's depressed property prices will take several more years to hit bottom and start a recovery because the market is still oversupplied.
Since 2008 Dubai property rates have been falling drastically. The cost of Dubai apartments have lowered. Dubai real estate prices declined six per cent in the third quarter while the United Arab Emirates' biggest construction firm, Arabtec Holding, reported a 96 per cent drop in profit and Deyaar Development PJSC suffered a loss. Dubai apartments which were sold for high prices now their prices have come down. The investors all over the globe are trying their hand out to get best home in Dubai.
As the rates in Abu Dhabi are high compared to Dubai, investors are interested in Dubai property. The areas that are worst hit by the rental declines are in Dubai Marina, Jumeriah Lake Towers and The Views. Even Dubai's rental real estate market is seeing prices fall as an oversupply sees landlords of new units undercutting market rates. This strategy has seen rents fall by up to 38 per cent in some of the emirate's most popular residential areas. The reason behind this downfall in property rates is because of many new constructions which were under progress have been completed. The reports say that it will take almost 20 months for the property market to get stable.
CPIFINANCIAL
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25/04/2025
Qatar Chamber (QC) hosted a high-level German trade delegation yesterday, led by H E Hendrik Wüst, Minister-President of the State of North Rhine-Westphalia. The delegation was received by Sheikh Kh
The Peninsula
25/04/2025
Al Mulla Automobiles Company, a member of Al Mulla Group, and the sole authorised distributor and exclusive service partner for Mercedes-Benz in Kuwait, has signed up Al Ahlia Contracting Group (ACG)
Trade Arabia
25/04/2025
Saudi-backed AviLease has closed a $1.5 billion unsecured revolving credit facility to support its international expansion and investment in next-generation, fuel-efficient aircraft.
The co
Arab News
25/04/2025
Saudi Arabia's mining sector is emerging as a global standout, supported by regulatory reforms, major investment, and a strong pipeline of domestic projects, a new analysis said.
In a repor
Arab News
25/04/2025
Saudi Arabia's non-oil exports, including re-exports, rose 14.32 percent annually in February to reach SR26.11 billion ($6.96 billion), according to the latest data from the General Authority for Sta
Arab News
Financial Information Co.
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