Mohammed Alabbar, founder of Emaar, expressed optimism about the Dubai real estate market in 2027, stating that the current situation in the region cannot continue; as major economies like India and China are also under pressure from rising costs and energy prices.

He predicted that after the regional conflicts end, it would take about 6 to 7 months for life to return to normal.

Alabbar, referring to the rising costs of food and fuel for Indian families, said: "This situation is unsustainable." He expressed hope that wise individuals could lead the region to better conditions.

The Creek Tower tender is currently on hold.
Regarding the Creek Tower in Dubai Creek Harbor, Alabbar mentioned that they are currently waiting for the situation between Iran and the United States to stabilize before possibly putting the project out to tender. No specific timeline for this action was announced.

These statements were made on the sidelines of the announcement of the $20 billion Eagle Hills project in the Maldives.

Source: Gulf Times