September 2, 2008
The prevailing high prices in Dubai’s real estate sector are not sustainable for long and a slowdown is likely, a top asset management company chief executive said this week
“Prices are bound to stop growing at this maddening scale,” said Shehab Gargash, chief executive officer (CEO) of Daman Investments, on the sidelines of a press conference to announce investment in renewable energy venture. “Will it be a crash? I don’t think so. I doubt we will see a significant long-term bust. But we will see corrections.”