(MENAFN) The Average of residential sales prices across Dubai declined by almost 10 percent last year, while in 2016 the average of prices predicted to decrease further.
Furthermore, Deloitte expected that although some 40,000 units are estimated to get delivered this year, talks with key developers suggest more realistic number will be almost 10,000 units.
However, with other local and global markets, the country has suffered the effects of the international financial crisis, as stated managing director, Deloitte Corporate Finance Limited.
While, the grow in competition amid hotel operators in Dubai made occupancy levels at almost 70 and 75 percent are likely to introduce the "new norm" in Dubai's hospitality market this year.
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