Posted by Neil King
Dubai will deliver an impressive 26,650 apartments and villas this year, a market forecaster has said.
Shuaa Capita said that this would be the highest number of deliveries since the property boom took-off, Emirates Business 24/7 reported.
The company said that while it had previously assumed that 2010 would see fewer deliveries than 2009, the economic shock in late 2008 and at the beginning of 2009 caused some leading developers to delay a higher number of 2009 projects than it had initially anticipated.
In addition, Shuaa said that the second part of last year saw renewed optimism as most developers picked up the pace on projects already at an advanced stage, pushing more units across to 2010.
The forecast put the focus for this growth on the central cluster of Downtown Burj Khalifa, Business Bay, DIFC and Sheikh Zayed Road where almost 7,000 units are expected to be delivered over the coming 12 months.
A house price index by the global real estate consultancy Colliers International showed this week that house prices in Dubai stabilised during the fourth quarter of 2009 following growth in the previous three months.