| Kippreport.com

Dubai’s Al Barari villa prices fall by 30 percent

September 2, 2009 2:54 by kippreport

Luxury villas in Dubai’s Al Barari development have dropped by 30 percent in the last one year, according to the developer’s realty agent, reports Emirates Business.

“Prices now range between AED12 million and AED20 million compared to last year’s AED15 million and AED30 million,” Mohanad Alwadiya, director of Harbor Real Estate told Emirates Business, attributing the fall to the downturn in the real estate sector.

However, Mohammed Zaal, Chief Operating Officer of Al Barari told the paper that the company had not suffered losses in the development as the project was sold before the downturn began.

Tags: Al Barari, fall, villa prices