Dubai property 'not at risk of crash'

Property in Dubai is not at risk of going the same way as some other markets have in the credit crunch, it has been stated.

Chris O'Donnell, the chief executive of real estate development firm Nakheel, has said that while the market in the emirate will see some change, good developments will always prosper and as a result the overall outlook is still positive.

He stated: "Dubai has certainly entered the next phase of property development whereby the consumers can intelligently and confidently shift through the myriad of property offering."

Insisting that the word "correction" should be used rather than the inaccurate "crash", Mr O'Donnell added that the right attitude towards the UAE market is to be "cautiously optimistic".

One new development that may further boost the UAE property market is the forthcoming launch of a new property-themed TV channel.

Singapore-based Property TV will launch in Dubai next month.
 

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