Dubai skyline flamingo
DUBAI: Dubai needs to halt all new home construction for one or two years to avert an economic disaster brought on by continued oversupply, according to one of its biggest builders.
“We’re entering a crossroads now, ” Damac Properties PJSC chairman Hussain Sajwani said in a Bloomberg interview. “Either we fix this problem and we can grow from here or we are going to see a disaster.”
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