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Dubai’s ruler has announced the creation of a new panel to achieve balance between demand and supply in the emirate’s real estate sector.
In an announcement on Twitter, Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, said the body will ensure that semi-government real estate companies do not compete with private developers and that the projects add value to the economy.
The committee will be headed by Sheikh Mohammed’s son and deputy, Maktoum bin Mohammed, and include representatives of top property developers in Dubai.
Sheikh Mohammed added that the panel will develop a comprehensive strategic plan and vision for all major real estate projects in the emirate for the next 10 years and aim to avoid a duplication of projects.
The announcement comes after Sheikh Mohammed published an open letter a few days ago elaborating on six main guidelines for governments employees and UAE officials covering government work, social media and Emiratisation.
“Real estate projects need to be paced right to bring added value to the national economy so as not to become a burden and a source of imbalance in our economic process,” he said.
Cavendish Maxwell is the MENA region’s leading firm of property consultants and chartered surveyors. If you are looking for professional real estate consultation or advice on property related matters, please view our services.
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BA (Hons) DipM
Head of Marketing
Sarah-Jane joined Cavendish Maxwell in January 2020 as Head of Marketing and is responsible for the development of the marketing strategy and execution across the Middle East region. An energetic and results driven marketer, Sarah-Jane possesses a wealth of multi-channel marketing experience, within both B2B and B2C environments which she has gained over a 25 year career. Prior to joining Cavendish Maxwell, Sarah-Jane held senior marketing positions for major developers in Dubai including Emaar, Dubai Properties and Dubai Sports City. She also worked for IWG as the Regional Marketing Director responsible for the MEA and APAC regions. Before relocating to the UAE in 2005, Sarah-Jane held various management roles in public and private sector companies in the UK including ten years at Royal Mail and seven years at the Bank of America.
Sarah-Jane is a member of the Chartered Institute of Marketing and has a BA(Hons) Degree in Business and Marketing