ANALYSIS-DUBAI DEVELOPERS BRING CONSTRUCTION IN-HOUSE AS DEMAND SURGES
https://media.zenfs.com/en/reuters.com/f05d3c7227f820f605584d2f2a7ad19d
✍️ Developers in Dubai are setting up in-house contracting firms to increase control over construction timelines, costs, and quality standards, and to maximize profits.
👉 Developers in Dubai are setting up in-house contracting firms to increase control over construction timelines, costs, and quality standards. 👉 Major UAE developers, including Emaar Properties and Samana Developers, have established in-house contracting units in the past two years. 👉 The shift comes as Dubai's real estate market surges, with prices up 70% over four years and a government plan to double the population to 7.8 million by 2040. 👉 Developers are struggling to attract bids from outside contractors, amid stiff competition. 👉 Developers are also tapping debt markets to fund land purchases and operations, as billions of dirhams in buyer payments remain in escrow until handover.
-- #HadeelAlSayegh #LukeTyson #ImranFarooq #MohamedAlabbar #GordonRodger #KhaledbinAlwaleedbinTalalAlSaud #Dubai #UAE #Australia #business
Loading quoted post…
