Distressed Property - United Arab Emirates

Dubai's real estate will remain a "challenging" environment for two or three years but house prices are beginning to recover.

-Mohammed Alabbar, Emaar Properties Chairman,
November 2011

Since the infamous peak of 2008, real estate residential prices in Dubai and Abu Dhabi have dropped by about 60 per cent and 50 per cent, respectively.

The Institute of International Finance based in Washington reported on data for the first three quarters of 2011 that suggested the UAE property market may have reached its bottom.

This has paved the way for willing investors to take advantage of the all-time low prices and purchase a lifestyle or investment property in the region.

Insight Group PLC has embarked on its own mission to uncover the “best of the bottom” in Dubai and Abu Dhabi and seek exclusivity to bring high-end low-priced properties to our valued clients.

Emaar Properties chairman Mohamed Alabbar has said Dubai's real estate will remain a "challenging" environment for two or three years but house prices are beginning to recover.

He also said he saw "optimism in the city" and confidence among consumers and the government, resulting in growth in key sectors of Dubai's economy.

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