The new development strategy and the postponed construction due to the ongoing pandemic are having an impact on the slowdown in the UAE.
By the end of the quarter, 3,700 residential properties were commissioned in Dubai: 100 villas and 3,600 apartments. By the end of the year, another 9,300 housing units will be put into operation from the Azizi Developments "Riviera" project.
Some projects will be completed in 2022.
The indicators of this quarter are significantly lower than the previous one. Asteco, UAE’s leading management company, has published this information.
There will be a continuing demand for villas with large living space. This segment leads in growth rates among other offers. The market is also recovering quickly, but there will be no oversupply.
According to Knight Frank, the UAE, one of the leading real estate markets, is not under threat of creating price bubbles. However, the risks are gradually growing, following the global trend.
The price boom, according to Asteco, is expected to continue until the end of 2021 and in 2022, at least soon.