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Property Prices to Rise in H2: Study

According to a study conducted by Avanti Holding, the real estate sector will recover within the next six to eight months. “Looking ahead, we are confident of at least a 5 per cent economical growth for 2010, due to the bottoming out of the market, a growing number of customers started to show interest to invest in our projects and others,” Dr Issam told Khalej Times.

“Despite the credit crunch, companies like Avanti have the ability to fund itself rather than rely on banks or other companies,” he said. The study also revels that companies adopting self-funding, particularly those involved in the property market, are less affected by the ongoing global economic crisis.

Such organisations are more capable of venturing into projects with potentially high returns and rapidly adjusting to fluctuating industry conditions.

“There’s huge demand in Dubai despite a significant percentage of construction projects being postponed, meaning that in this part of the world it’s more of apprehension rather than a poor market. I believe that this will be corrected over a period of six to eight months; by then we can expect a slow and steady process of recovery,” the chairman of Avanti Holding said.

A part of Issam Daoud Group of Companies, Avanti Holding is currently working on eight projects and has investments worth Dh2 billion.

He noted that his company is interested in buying waterfront properties in Dubai. “We actively engage with our clients and positively act on their opinions and feelings. This atmosphere of interaction and trust is and will always be above all the core of our successful partnerships,” he said.

aneela@khaleejtimes.com