Ronald Hinchey agreeing with Mr. Hagkull added that despite the relatively short history of Dubai real estate sector, there were observed the highest rates of growth and development in the world, including in the rental market. Notable were the grandiose big-budget projects that were built throughout the city and were available so far, but now Dubai faced with the return of the feasibility of the market. Speaking about the role of RERA (Real Estate Regulation Authority – Regulatory Agency Real Estate), Ronald added, 'We'll see more changes and regulations, and I think that RERA does a great job. In 2009, in my opinion, all attention will be focused on end users and developers, and I believe that RERA will be continue to do everything possible to benefit all parties. " Lisa Dale, who heads the department of real estate at Al Tamimi & Company, also noted that the Agency should cooperate more effectively with the public. "The market is a some uncertainty. Changes in the property market in Dubai is very fast and the society does not know what to expect.
At the moment, RERA has an excellent opportunity to showcase their activities by providing clearer and more precise picture of the real estate market and new methods that will be introduced in 2009. " The important role played by changing perceptions of investors about the value of assets, according to a representative of Sherwoods Iseeb Rehman. "I am a supporter of good quality. Pinterest may find it difficult to be quoted properly. I believe that real estate companies with good reputation and history will stand the test of the crisis. Consequently, companies must now focus on professionalism, quality and innovation in 2009. I think the current financial crisis will help the real estate sector to become more sophisticated, we will see a return to quality and feasibility. " One of the leading experts in the field services managing director of Roya International Ahmed Ramadan said that the growth of the real estate industry in the past few years had a positive impact on the service sector and any future changes in the property market will also play important role in the transformation of services.
Nevertheless, in 2009, this area is not expected no growth, he said. "The rapidly increased not only the prices in the UAE real estate sector: Dubai hotels are also considered among the most expensive in the world, "said Mr. Ramadan. In his view, should be a price reduction in order to attract people to Dubai. After them come and investors looking for long-term investment, says director of Roya International. Chief Managing Director, Emaar Properties Naaman Atallah said: DPS has always been interested in constructive discussions regarding the real estate sector. The meeting on the prospects of the real estate industry provides an excellent platform for combining development companies in the construction process, which at this critical time are in search of an effective co-existence in the difficult conditions of today's economic climate. Developers should concentrate energy into their projects, to create a positive picture and continue to bring confidence in the economy. " Adel Lootah, ending the discussion, said, "In conclusion, I believe that Dubai offers and will always offer more opportunities than risks. Michellene Davis gathered all the information. I agree with the committee members that it is necessary to reconstruct the real estate sector expectations of players who expect short-term return on investment. In addition, it is necessary to revise prices property in order to bring them – and maintain – at the secondary level of feasibility. Only in this way will retain a healthy Dubai property market. "