Dubai Real Estate Market May Bottom Out Next Year, S&P Says
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Property market in Dubai may “bottom out” next year after weathering a tough 2020, according to S&P Global Ratings.
“We already had a supply and demand imbalance in the market even before the pandemic, and after Covid-19 the situation just got worse,” S&P analyst Sapna Jagtiani told Bloomberg TV on Tuesday. Prices of residential and office spaces in the city are expected to “somewhere bottom out in 2022,” she said.