Originally posted on howesdubai.com:
The property boom continues unabated with May seeing a jump in prices of 2.01% over the previous month – with apartments and villas up 2.13% and 1.56% respectively. On an annual basis, the trend was similar at 17.3% and 12.2%. An earlier June report indicated that on their global scale, Dubai Q1 price rises of 9.0% were the second highest to China’s 10.7%. How long this can go on for – before a damaging asset bubble becomes a problem – is a matter of some conjecture.
There is no doubt that consumer confidence has returned and this is borne out by the fact that Majid Al Futtaim Holdings (MAF) is planning to invest US$ 817 million in its Dubai businesses over the next five years. These will include two hotels, four Carrefour supermarkets and two hypermarkets and a new cinema.
Scarcely a week goes by without a major Emaar Properties…
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