Dubai tipped to bounce back

Article Date : 31 December 2009

Dubai is in a strong position to bounce back from its economic worries in the past year, it has been suggested.

Speaking at a seminar in the UAE set up to discuss how to learn the lessons of the world economic slump, the director general of Dubai's department of finance Abdul Rahman Al Saleh argued that the emirate has reasons to be optimistic.

He stated: "Dubai is working through its unique challenges, but it is worth reminding ourselves that the fundamentals of Dubai are very sound and position us well to emerge from the crisis stronger."

Such a recovery could be good news for those investing in the UAE, as a Dubai that has undergone correction and learned from past errors may be able to provide a stable investment prospect.

Elsewhere in the country, Abu Dhabi-based estate agency Landmark Advisory has said in its latest report on the location that the outlook is solid and stable, with prices set to rise for properties due for completion in 2010.

Dubai tipped to bounce back

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