Mohamed Alabbar, founder of Emaar Properties, predicted that Dubai’s property market will achieve a nice balance by 2027. This forecast hinges on a significant rise in new housing stock, though he acknowledged potential disruptions from geopolitical conflicts such as the Iran war. He noted that these tensions could lead to a sector adjustment of 5 to 10 per cent, describing it as “adjustment time” rather than a crisis.
Emaar’s financial stability underpins its aggressive expansion plans. The company’s second-quarter profit rose by 9 per cent, while third-quarter profit surged 37 per cent, buoyed by higher revenues. With strong cash reserves and low debt, Emaar can sustain growth even as rivals slash prices—some developers now offer discounts as high as 50 per cent to reduce unsold inventory. Unlike competitors, Emaar has maintained its pricing strategy, relying on its brand reputation and product quality to preserve demand.
The developer’s global portfolio includes 90,000 units currently under construction across 18 markets. Central to its Dubai-focused strategy is a Dh200 billion ($55 billion) masterplan covering 4.5 million square metres. This initiative aims to accommodate 150,000 residents and will feature a mix of residential towers, villas, office spaces, retail outlets, luxury hotels, and community amenities.
Alabbar’s optimism reflects Dubai’s proven ability to recover from past downturns. Historical trends show that market crises typically last two to three years, and Emaar is positioning itself to capitalize on the eventual rebound. The megaproject represents a long-term commitment to the emirate’s future, despite ongoing regional instability. Alabbar said that the policies and dynamism of Dubai make it “probably one of the most exciting countries in the world.”
