Major projects to aid recovery in Dubai real estate market, says study

16/05/2011 - Dubai Investment News Posted by Bob Brunskill
Major projects to aid recovery in Dubai real estate market, says study
A new study has suggested that the major infrastructure projects and investments in the transport sector will accelerate the recovery in the Dubai real estate sector.The creation of more demand for Dubai real estate has, in part, been stimulated by the completion of world-class infrastructure and a business-friendly environment, the research found.According to the study by the Dubai Chamber of Commerce, transport infrastructure investments such as Dubai Metro Green Line will increase the attractiveness of the emirate."Dubai's real estate sector will gradually recover with a lag to the recovery in the domestic and global economy, even though it is unlikely to return to pre-crisis sales or rental growth rates in the foreseeable future," the study reads.Thierry Loue, chief executive officer of Jones Lang Lasalle, insisted real estate in Dubai will rebound soon, saying: "Dubai as a destination is highly recognised and it will emerge strongly with the positive developments in the economy."