future projects: Dubai's real estate sector is a bellwether for its economy, according to The Japan Times. It not only caters to the emirate's residents, but also attracts wealthy investors from around the world seeking a safe place to put their money. Sheikh Mohammed bin Rashid Al Maktoum ordered the creation of a committee to study the needs of the real estate market, evaluate all future projects and control the pace of projects, a statement by Dubai's Media Office said. ; The move comes amid a slowdown in Dubai's economy and a slump in real estate prices. Property values, however, have been steadily dipping. Developers, however, continue to build at breakneck speed, and have completed around 21,000 residential units in the first half of the year, according to Property Finder. A report by UAE-based Property Finder found that Dubai apartment and villa sale prices for the first half of 2019 were down around 12 percent compared to two years ago.
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Tagged under future projects, estate sector topics.