Dubai, UAE - November 3rd, 2008: Landmark Properties, one of the Middle East's leading real estate firms, announced today that its analytics division, Landmark Advisory, expects leasing activity in Dubai to accelerate as sellers adapt to shifting demand patterns that signal the transition of Dubai's real estate scene to an end-user driven buyers' market.
According to Cliff Kelaita, Chairman & CEO of Landmark Properties, Dubai's real estate market is resilient and will withstand the current economic turmoil without experiencing the over-supply problems alluded to in media reports.
Al-Romaihi added, "I am confident that our partnership with Landmark Properties will further enhance the booming property market in Qatar and we look forward to a successful business operation."
Analysts from Landmark Advisory noted that despite dramatic growth in 2008, Dubai's property prices are still below those of comparable markets in cities like New York, London, and Hong Kong.
Kelaita concluded that "even if some projects get delayed or restructured in the short term as developers adapt to current challenges, we are optimistic about the market's strength and growth potential."
In October, Landmark Advisory released an inaugural report that assessed the impact of the global financial crisis on Dubai's property market. The report is available on their website: http://www.landmark-advisory.com
Landmark Advisory is the newly launched research and consultancy division of Landmark Properties. Its mission is to provide high-resolution market intelligence and cutting-edge consulting services that cover the Middle East and North Africa (MENA). This commitment to research excellence will enhance the retail operations at Landmark Properties with innovative analytical products backed by 'best-in-class' due-diligence.