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Emaar's Alabbar predicts 'nice balance' for Dubai property market amid supply boost and easing prices

thenationalnews.com · 7d · first reportShare

The property market in Dubai is set for a “nice balance” next year despite softening due to the Iran war, as the sector goes through a period of adjustment, Emaar Properties founder Mohamed Alabbar has said. “I'm getting ready for 2027,” Mr Alabbar told delegates at AIM Congress in Dubai on Monday. “A lot of supply is coming in, so I think there'll be a nice balance in the city.” When asked to predict the impact of the continuing Iran war on Dubai’s broader real estate sector, Mr Alabbar said: “I would say that an adjustment of 5 per cent to 10 per cent because it's an extraordinary situation. “But then again, you know if the situation settles, God knows what could happen in this market. It could become pretty fast [paced],” he added. No discounting Emaar, the biggest listed developer in the emirate, however, is weathering the wave of uncertainty on the fundamental strength of its business. “It depends on which real estate company you talk about,” he said. “Right now, we have developer