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Dubai has been experiencing a real estate boom in the past few years. The surge in real estate construction is not an issue unique to Dubai. Globally, investment in real estate, real estate investment trusts and developers has soared.
Can this new capacity be absorbed? Mr. Zok had a clear answer, 'Yes, the Dubai market has a dynamic of its own. The way the Government is creating new knowledge-based cities is creating the demand for this supply.
'In the hospitality sector Dubai has been in the same phase of the business cycle - the growth phase - for the past 10 years, and I do not see that changing'. |
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Last Updated ( Tuesday, 07 June 2005 )
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