Emaar founder predicts balance in Dubai real estate market in 2027
Mohamed Alabbar, founder of developer Emaar Properties, said in Dubai, UAE, that the city’s real estate market could reach a “good balance” in 2027, when a significant volume of new supply enters the market. He said this during the AIM Congress, The National reports.
According to Alabbar, he is preparing for 2027, when many new properties will enter the market. In his view, this could ensure a balanced situation in the city.
Impact of the war
Alabbar estimated a possible correction in Dubai’s real estate sector due to the war between Iran, the United States and Israel at 5–10%. He called the situation exceptional and added that if it is resolved, the pace of market development could increase again.
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The Emaar founder also said that some developers are offering discounts, including at levels of 20% or 50%. At the same time, Emaar, according to him, does not apply discounts because it has substantial cash reserves, good cash flow and low debt.
Emaar projects
According to Alabbar, Emaar has 90,000 properties under construction across 18 markets worldwide. The company has not stopped or slowed its development projects amid regional geopolitical uncertainty. He called the current situation a period of correction rather than a crisis and said the company’s financial position allows it to expand.
In June, Emaar announced its intention to unveil a megaproject in Dubai worth 200 billion dirhams, or $55 billion. According to the company, the project is designed for nearly 150,000 residents, will cover more than 4.5 million square meters and will include residential towers, villas, mansions, Class A offices, shops and hotel infrastructure.
