The Global Financial Crisis And The Future Of Real Estate In Dubai Property

The global financial crisis inflicted significant damage to the functioning of the real estate sector. Many experts believe that 2009 will be difficult and the transition to this sector of the economy. However, the roundtable participants in the dps (Dubai Property Society – Association of real estate in Dubai), believe that the situation in the emirate's real estate market changed in a positive way. Returning to our roots, building quality and affordable housing, change in expectations of investors – is the first necessary steps towards the short-term investments to long-term investment in real estate in uae. According to experts, they will determine the future of real estate sector in Dubai in the next 2-3 years. The meeting Representatives of the real estate industry: control of the company Roya International Ahmed Ramadan, director of the company Jones Lang LSalle Middle East, Blair Hagkull, head of the company Sherwoods Iseeb Rehman, partner firms to provide advice to real estate Cluttons Ronald Hinchey and sales director of construction company Emaar Properties Naaman Atallah. The main issue discussed was the search for ways out of Dubai real estate sector from the current crisis. According to Mr Hagkull, in the coming year, "all will return to the basics, when investors will operate traditional investment instruments, such as direct investment and acquisition of real estate. " The transition period will last the whole year, Next year will gradually change for the better, and in 2011, I expect the sector will stabilize and begin to return investments.