- Posted June 12, 2014 by
Dubai, United Arab Emirates
Dubai Real Estate observe a project revenue of $123bn
New data published by business intelligence support, MEED, has shown that 744 individual Dubai real estate developments are underway or currently planned in Dubai with a combined budget value of US$123bn. The newest data from MEED's task tracking database, MEED Projects, shows that the combined worth of the best 10 biggest projects in the pipeline or underway in Dubai is US$ 50.5bn.
Many of the individual projects planned or underway form part of master plans that were much bigger. When including the total project masterplans, the evaluation of MEED shows there are 566 real-estate projects with a combined value of near to $464bn. This consists of real-estate developments including countless developments that are standalone, in addition to the Dubai Government's US$7bn Expo 2020 masterplan.
The projects which are planned to be sent between 2030 and now are set-to change Dubai, creating fascinating opportunities but additionally raising new problems for Dubai's government and business community.
As the marketplace restores there is an imperative need for more exact, realtime and authoritative advice on Dubai's real-estate sector to manage the threat of overheating of the sector," stated Edmund O' Sullivan, Chairperson, MEED Events, organizers of Dubai Real Estate 2020.
The event will create a system for Dubai's regulators and real estate that is top institutional traders, consultants, private and authorities’ developers, lenders, advisors and property experts to discuss issues and identify solutions for the emirate to go towards a more mature real estate marketplace. Highlights of the seminar include critical discussions by RERA on regulations and the Dubai Land Department, restricting the Dubai Municipality's presentation outlining the future real-estate, along with high risk purchasing development plans and masterplan, property launch programs and the entire master plan for the city.