Dubai’s Ruler Makes Decisive Plan To Balance The Dubai Property Market
To mark the Islamic New Year, on Sunday Dubai’s ruler set an agenda for the coming months.
Taking a hands-on approach to issues facing Dubai today, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai listed points focusing on the output of UAE ministers, he stated negative use of social media which harms the legacy of Sheikh Zayed will not be tolerated, how comments from the public should not be ignored and how the aim of Dubai is to find new projects to drive the economy forward.
And one such act is already underway.
HH Sheikh Mohammed has appointed a new director to ensure the property market does not become a burden to the UAE economy and to ensure it continues to add value to the national economy.
He stated it’s important to control the rhythm of the real estate market
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HH Sheikh Maktoum bin Mohammed has been appointed to lead the initiative
The committee aims to achieve a balance between supply and demand to curb an over-supply, avoid duplication of projects in the sector and to develop a comprehensive plan vision for all major real estate projects in Dubai over the next ten years.
