Dubai rents may be bottoming out as ‘green shoots’ appear

Dubai rents may be bottoming out as ‘green shoots’ appear

But supply issues continue to represent the biggest challenge facing the market, with 45,000 new units completed in 2019 and that expected to double this year.. Gulf carriers fly over Iraq, Iran after military action deters others /node/1615481/business-economy. Gulf carriers have grown into major airlines even as regional tensions in recent decades erupted into conflict.. Dubai-based Emirates and sister carrier flydubai together serve 10 cities in Iran and Iraq, and have continued to use the airspace of both countries for other flights.. Other international carriers have rerouted flights to avoid Iraq and Iran, including Lufthansa, Air France, Singapore Airlines and Qantas.. Bahrain's Gulf Air has redirected European flights away from Iraqi airspace and now flies longer, more fuel consuming routes over Saudi Arabia and Egypt.. "Gulf carriers face a big challenge but that doesn't mean that risks can be taken - even if that inflicts damage on the business model," independent aviation consultant John Strickland said..