Mohamed Alabbar, Chairman of Emaar Properties, affirmed that the company is committed to completing its announced urban projects in Dubai, and is keen to deliver residential and commercial units to investors according to the deadlines set for the completion of these projects. .
According to Arabiya Net, Al-Abbar explained that the company closely monitors the real estate market and the developments of supply and demand in it, indicating that the price movement in the real estate market in Dubai is normal, but the market is not I am still in areas of strength.
He explained that Emaar, like most of the major companies, took measures in conjunction with the crisis, indicating that work is moving forward with the company's projects, especially the Dubai Creek project and the Emaar project. Beachfront (Palm Jumeirah) and other projects in Dubai Marina and others.
Moreover, Emaar - the largest real estate developer in Dubai - has temporarily halted work on new projects, amid an abundance of supply, and the Corona pandemic hit the economy, as home prices plummeted About a third of its value over the last six years.
Mohamed Alabbar said, earlier, according to Bloomberg and seen by Al Arabiya.net, we are no longer building, adding: Government agencies decided to stop real estate development projects New for nearly a year, but Corona has definitely curbed development.
