Real estate projects in Dubai will reach $230 billion out of a total of $310 billion in development projects in the emirate over the next decade, an extensive report conducted and released by MEED yesterday revealed. The study suggested that three-quarters of the emirate's planned projects for the next decade will be in the property sector. The study called “The Dubai Real Estate Report 2007” is an essential information tool for any individual or business linked to the emirate's construction, investment and real-estate sectors. Although the supply of residential properties is greater than ever, and 175,000 new units will be available by 2010, demand is set to outstrip this, with an estimated 181,000 units required by the end of the decade. The value of projects either planned or under way in Dubai will total $310 billion over the next decade. Of this, close to $230 billion, the equivalent of almost three-quarters of the total, is planned in the property sector, Arab News quoted the study as disclosing.
