Posted by Neil King
Real estate is set to be one of the first sectors in Dubai to recover from the economic downturn, it has been claimed.
Ali Rashid Lootah, chairman of Nakheel, said the sector has reacted more positively than most other industries following the crisis that hit a number of industries in the Gulf region, according to Emirates24-7.
The expert told the news provider that real estate in Dubai is currently experiencing a certain degree of stability.
He said that rental and property prices are being maintained, making the sector a more attractive proposition for many investors.
The developments in Dubai's real estate sector over the past two years have played a key role in restructuring the market," he told the website.
"Our internal data shows that the property market in Dubai has a lot of strong pillars that allow it to be on top of the markets that will start their gradual recovery … these elements include the emirate's advanced infrastructure and investment environment."