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Dubai property slowdown due to tighter rules, not oil slump
Analysts say well-balanced supply and demand for properties should keep prices stable
Add BT as a preferred sourcePublished Wed, Aug 26, 2015 · 09:50 PM
Dubai
DUBAI'S tighter property rules aimed at preventing a housing bubble are the main cause of a slowdown in the emirate's real estate sector rather than a sustained drop in oil prices, industry experts said.
Dubai has a low reliance on oil despite hydrocarbons providing three-quarters of the United Arab Emirates' consolidated revenue in 2014, according to credit agency Moody's. Abu Dhabi is home to the bulk of the UAE's energy reserves.
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