Property in Dubai 'rising in price'

Property in Dubai's Jumeirah Village project has been gradually rising in price since the start of the year, according to one developer.

The latest figures released by Memon Investments reveal that the cost of purchasing a home in the complex has increased by up to 30 per cent compared to January's levels.

Ahmed Shaikhani, managing director of the company, says the finished development will provide residents with the very best in Mediterranean-inspired living, leisure and retail.

"We take pride in bringing to customers a variety of property units that address their requirements in luxury and style," he explains.

Mr Shaikhani adds that the companies working on the project are all committed to delivering each property in Dubai to the best possible standard.

The news comes after Federico Tauber, president of Tameer Holding Investment, said he expects the industry to regroup by the middle of next year, which may interest potential investors.