Consolidation in Dubai gives buyers hope

The worldwide economic downturn is decimating real estate in the UAE, affecting investors, developers & agents, and the process looks likely to separate the wheat from the chaff. New regulatory processes are being introduced for real estate agencies, and the stronger developers are marrying their businesses to ensure they emerge larger & stronger from these troubling times.

A recent example of this is an act of consolidation over the Lagoons project. Sama Dubai, the developers of the Lagoons property in Dubai, have merged with Dubai Properties & Tatweer. The project itself has somewhat stalled and the consolidation of these companies has resulted in Lagoon investors now being thrown a lifeline & offered alternative property at Jumeirah Beach, previously owned by Dubai Properties.

Such business practises are seen as positive rather than desperate measures which will act to not only create stronger industry entities for the future but will also ensure investor confidence remains high.