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Damac Sees UAE Property Market Recovery In Two Years, Zawya Says

The recovery of the UAE property market to pre-crisis levels could take up to two years, an executive at Dubai-listed developer Damac Properties PJSC said.

The recovery of the real estate market “will be a long one, perhaps 12 to 24 months,” Amira Sajwani, Senior Vice President at Damac, was cited as saying by the Zawya news site. “Property prices have dropped, and we are expecting further declines over the final quarter of 2020 and into 2021.”