Al-‘Abar reports surge in UAE real estate demand

Muhammad Alabbar, the founder of Emaar Properties, confirmed that the real estate market in the UAE has experienced a return to record-breaking buyer demand after a temporary decline during regional tensions. The company's backlog of work has reached approximately 180 billion dirhams. He also explained that the collection rate for dues was 98% last year, and that cancellation of reservations decreased to less than 600 units per month, down from around 1,200 during the period of tensions, reflecting investors' confidence in the strength of the UAE market. He emphasized that the activity in the hospitality sector increased by more than 60% compared to previous periods, underscoring the importance of maintaining financial discipline and building cash reserves to face economic challenges, while focusing on integrating artificial intelligence to enhance competitive efficiency. Additionally, he pointed out that developing integrated residential communities requires long-term planning spanning 10 to 15 years, with a commitment to quality service and ongoing maintenance after sales to foster customer trust.

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