Dubai's ruler issued a directive on Monday that would curb the pace of new real estate construction projects as property prices fall and the sheer scale of developments threatens to outstrip demand.
Dubai's ruler issued a directive on Monday that would curb the pace of new real estate construction projects as property prices fall and the sheer scale of developments threatens to outstrip demand.
Developers, however, continue to build at breakneck speed, and have completed around 21,000 residential units in the first half of the year, according to Property Finder. More than 38,400 additional residential units are scheduled to be completed by the end of the year. Dubai is already home to six mega-sized malls, including the Dubai Mall, which is one of the world's busiest and largest. Another six large malls are currently under construction.
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