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Dubai property prices at “bottom phase,” says Deyaar CEO
The property market will probably see recovery in 2011, according to Markus Giebel, the CEO of Deyaar.
February 22, 2010 4:35 by kippreport
Property prices in Dubai have “reached a bottom phase” and although they may fluctuate up or down by 5 percent in 2010, they won’t post a sharp drop this year, Markus Giebel, the CEO of Dubai-based property developer Deyaar told reporters on Monday. Property prices in Dubai have fallen by around 50 percent over the last year.
Giebel also said that the market will possibly see recovery in 2011, reports the Associated Press.