Dubai prime property values approach floor, BofA says

Property prices in centrally located areas in Dubai may be reaching a “floor” after values dropped by 45%, Bank of America Merrill Lynch said. “We see an emerging floor for prime assets, particularly in the retail sector, which has the smallest supply pipeline,” Dubai-based analysts including Karthik Sankaran and Abdelrali El Jattari wrote in a note to investors today. Growth in retail, trade and tourism should resume, helping the real-estate industry, the analysts said.

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3d rendering of a row of luxury townhouses along a street

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