The market is maturing and as a result, responding to the needs of home-owners not speculators, says Emaar Chairman Mohamed Alabbar. With an increased focus on the preferences of home-owners, Dubai's real estate market will see a shift towards affordable housing, says Mohamed Alabbar, chairman of Emaar.
In his exclusive 2015 Gulf Business Power Letter, Alabbar stressed that the emirate’s property market was seeing interest from a different set of investors.
“With growth powered by the massive preparations to host the World Expo 2020 and the positive performance of Dubai’s diversified business sectors, demand for owned homes to live in, from a larger segment of the population, will gain traction,” he wrote. “Dubai’s real estate market will thus be driven by homeowners, and not by speculators as in the past, and this is a great sign of a maturing market.”