Dubai developers racing against time to complete, handover projects
Property developers are racing against time to complete and handover residential projects despite a sustained correction in prices in Dubai this year as they completed record 20,978 units in first half of 2019, says a new report.
According to the ‘Property Finder Trends’ report for January-June 2019, the total number of completed residential units included 14,999 apartments, 1,084 serviced apartments and 4,895 villas and townhomes.
Overall residential stock in Dubai is expected to reach 637,000 units by the end of next year, reflecting an increase of 10 per cent. Experts said a price correction and higher supply will promote Dubai as an affordable market, aside from offering residents and investors an opportunity to bargain a better property deal in one of the most popular and developed cities of the world.