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Worst over for Dubai property: Nakheel chairman

Lootah says buyers returning and the emirate offers an alternative to investors worried about UK's Brexit vote
Monday, October 24, 2016 - 05:50

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Since Dubai's 2008 property collapse forced state-controlled Nakheel to restructure debt, the company has rebounded from losses by boosting recurring revenue from hotels and retail outlets as well as developments on its Palm Jumeirah island and other projects.

Singapore

DUBAI'S property market is bottoming out as buyers return to the market and the emirate offers an alternative to investors worried about the UK's Brexit vote, according to Nakheel PJSC chairman Ali Rashid Lootah.

"I think the worst is over," he said in an interview in

sentifi.com

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