Middle East developers, brokers predict when real estate might fully recover

Middle East developers, brokers predict when real estate might fully recover

The real-estate market in the Middle East and North Africa (MENA) may start to see moderate recovery over the short term, but it might take up to two years before it recovers completely, industry experts have said.Of the 488 respondents polled recently by Informa Markets, organiser of Cityscape's Real Estate Summit, 74 percent said they anticipate the market to bounce back completely within one to two years. About a third (32 percent) are expecting signs of improvement within the next six to twelve months, while more than half (52.5 percent) agreed that a "speedy recovery“ may be possible.The comprehensive study gathered the feedback of experts in the region such as developers, architects, designers, brokers, private and institutional investors, consultants and market analysts. The results were highlighted in the inaugural "UAE