A view from the UK:
Dubai investment property developers must delay requests for payments from buyers in order to stabilise the region’s real estate market, a consultancy firm has claimed.
RichVille released a fourth quarter report on the emirate’s property market and included a suggested rescue plan to prevent a potential collapse.
Some developers also criticised the government of Dubai for not doing enough to help out the sector.
Officials must work with builders to work out how to stimulate demand, the RichVille report claims.
Tariq Ramadan, chairman of Tharaa Holding, of which RichVille is a member, said;
“It is very interesting to see that while the authorities around the world are taking all possible measures to revive their real estate markets, authorities in Dubai seem to be doing nothing to support the real estate sector.”
2 comments:
I agree, the world knows that there is a financial crisis and if developers pressurizer buyers then it would be a sad situation. Developers must extend time for repayment.
www.dubaipropertyinvestment.info
Money is not there in the market and the problem with Dubai is that it is still quite dependent on oil revenues for running its economy. Now what happens when crude oil touches a high of $147 and then dips to the current level of $36 a barrel. Dubai is facing huge financial constraints.
http://propertyindubai.info
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