Outlook: Reasons why Dubai’s real estate will remain slumped until 2021 – ZAWYA

Outlook: Reasons why Dubai’s real estate will remain slumped until 2021 – ZAWYA

Outlook: Reasons why Dubai's real estate will remain slumped until 2021. "It's still at a very nascent stage and these are growing pains the sector is going through". S&P Global Ratings, which in March revised its outlook on Dubai's top developer Emaar Properties to negative and downgraded its rating on Damac Real Estate, is markedly more cautious.. Banks can now increase their exposure to real estate to 30% from 20 percent, while minimum loan-to-value (LTV) ratios for mortgages will rise by 5 percentage points - to 80 percent for foreigners and 85 percent for nationals.. To woo buyers, developers offer incentives such as waiving the 4 percent registration fee for new properties.. "There was a general optimism in the market," said Savills' Pillai. ". "The price per square foot is still relatively low compared to other advanced markets.".