Property prices 'to go on rising' in UAE

There is no prospect of property prices falling in the UAE, it has been claimed.

In an interview with Emirates Business, the chairman of Dubai building project Falconcity of Wonders, Salem Almoosa, argued that prices in the United Arab Emirates (UAE) will "never ever go down".

He stated that this would be the case because the UAE has a "visionary leadership" that has planned ahead for the future and also taken steps to minimise risks to the property sector emanating from political or economic factors.

Mr Almoosa went on to argue that because the Middle East's economy is based on oil production rather than industry, it is isolated from the problems affecting the USA and Europe.

In a further move that could boost the property sector in the emirate, Dubai airport recently opened a third terminal.

Set aside for the exclusive use of Emirates airlines, it is initially hosting services that fly in and out of other Middle Eastern destinations and the Americas, but will also serve Africa, Europe, the Far East and Australia as the terminal comes up to capacity.
 

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