Dubai property prices could adjust 5-10% as new supply comes by 2027, says Alabbar

Dubai property prices could see a 5 to 10 per cent adjustment as significant new supply enters the market by 2027, an Emirati businessman said, although he expects the market could “pick up really fast” if the current situation settles. Emirati businessman and founder of Emaar and Noon Mohamed Alabbar said he expects a lot of supply to come by 2027, of which he said there will be a “nice balance” in the city. He explained that he expects the adjustment of 5 to 10 per cent because “it's an extraordinary situation,” adding, “But then again, if the situation settles,…