Dubai developers told to think ahead

Dubai developers are being urged to think ahead and be "agile" to navigate an unpredictable market.

The emirate's real estate, which rocketed back from a crash in recent years, has since found itself buffeted by falling oil prices, while cooling measures have also helped to lower property prices around 15 per cent.

Developers should be "more agile to sustain their businesses and survive the tough period ahead," advises Hesham Al Qassim, chief executive of the state’s Wasl Asset Management and vice chairman of Dubai’s largest lender, Emirates NBD. "Those who are mindful of the reality around them will manage, but those who stretch themselves with billions worth of projects won’t."

The National