Arqaam Capital: UAE real estate sector to recover by year end
09 June 2009
Arqaam Capital, investment bank in Middle East, stated that the recovery in UAE real estate stocks signals a recovery in Dubai property prices later this year. The bank predicted that Dubai real estate would bottom out in the second quarter of 2009.
Ali Khan, MD, Arqaam Capital, said, "I am pretty confident that by the end of the year, house prices will be higher than they are today.
Khan had predicted in December last year that Dubai real estate prices would reach their bottom in three to four months' time. Recent research suggests that he boss was right.