War Halts UAE Realty Boom; Dubai Projects Delayed
DUBAI: The ongoing conflict in West Asia is projected to hinder handovers in the UAE’s thriving property market, with developers facing delays of six to nine months due to supply chain issues, increased costs, and stricter bank financing. Of the 45,000 units scheduled for delivery in Dubai by 2026, around half are expected to be postponed until 2027 or later, based on data from Anarock Middle East. The overall construction costs have surged by nearly 30%, as per industry estimates. Currently, Dubai’s under-construction market accounts for approximately 70% of total property transactions, fueled by strong foreign investment, increased migration, and…