Looking to sell your investment property? We specialise in selling tenanted properties to our network of 30,000 investors. For more detailsClick here

Looking to sell your investment property?Click here

RERA Cancels 217 Projects In Dubai Since 2009.

Published: 9th September 2013

A new bond prospectus released by the Dubai Real Estate regualtory Agency (RERA), has announced that 217 of a total of 454 projects were cancelled since 2009. The move, which is a direct response to the considerable decrease in sales of property in Dubai, is seen as part of an ongoing effort to align real estate supply with demand in the emirate.

Since 2009, the value of annual real estate transactions has fallen by over AED30 billion, from AED152 billion in 2009, to AED119.4 billion in 2010. RERA went on to state however that the remaining 237 projects were expected to be completed in due course.

The news is seen as a further blow to the Dubai real estate market, which is still reeling from the after effects of the global economic downturn. With a recent Deutsche Bank AG report stating that home values in the emirate declined in May by 1.2% from the previous month, it seems a recovery in the Dubai property market may still be some way away.

More information on: Holiday rental property in Dubai

Back to News

Need some help? Request a FREE call back today.

Whether you're a seasoned investor or considering your first property investment, our experienced team are here to help. Arrange a FREE call back from one of our team!

Free Call Back

Call our team today on +44 (0) 161 337 3890

Pure Investor - Property Investment