Confidence is returning to UAE market as developers listen to consumer demand

Middle Eastern investors will be pleased by news that confidence is beginning to return to the property market in the UAE.

Developers in the region have announced that they are planning on reacting more efficiently to consumer demand with their new projects in an attempt to lower costs and tempt potential purchasers back to the market.

"You have to provide a service and a product that people want. It's no longer a 'build and they will take it' market," explained Ian Albert, regional director of Colliers International.

However, despite the positive signs in some areas of the UAE, other regions will take longer to return to normal.

According to the latest report from Jones Lang LaSalle, the real estate market in Dubai is not poised to begin recovery until at least 2011, because of the large number of unoccupied properties and low demand in the emirate.

The UAE is currently top of the global property registration index, Business 24-7 has reported.

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