Fitch upbeat on Dubai property supply

Dubai’s booming real estate sector faces the prospect of supply catching up with demand as early as next year, but project delays and market management should lead to “an orderly moderation in rents and property prices”, according to a new report by ratings agency Fitch. The report, published on Wednesday, says new homes coming on to the market will reach record highs in 2009-2010. A glut of office space could also emerge in the same period, it adds, noting that Dubai has as much commercial property under construction as Shanghai, which has 13 times as many... [read full story]