Dubai real estate market to see 18,000 new homes by end of year

Property consultancy Jones Lang Lasalle has said Dubai's real estate market will see another 18,000 homes by the end of the year, adding to the emirate's oversupply woes and pushing prices further down, Reuters has reported. Some 2,000 homes were completed in the emirate in the second quarter, and another 18,000 will be ready for occupancy by the fourth quarter, JLL said in a report, adding that total current residential stock will rise to around 322,000 homes.

Source: AMEinfo.com