Mohamed Alabbar Says “No Concerns” Over UAE Property Market Outlook

Dubai, UAE - Speaking to CNBC, Alabbar said that while there may be a “cooldown,” the market will not face any major disruptions.

"I'm not concerned at all, we've been growing 70%, 40%, 30% a year, and in a situation like this there could be a bit of cool down but I don't see any issues, plus remember our real estate business is not built on bank borrowing, which is very restrictive in this market. Consumer confidence will be shaken a little bit but as I said, the policies of this country bring your confidence back so fast." Alabbar said.

Further commenting on capital and market dynamics, Alabbar said that investors with “true capital” will “double down” on their investments.

Alabbar added, "let's be honest that it is an interesting and challenging situation, smart capital understands that a country like this with all these principles and stable leadership and the safety that is has shown that it can deliver; that even a person like me, I don't know much about our military services but I am over the moon with these capabilities and I am so happy for the safety of everybody but I'm also so grateful for a leadership, that for you to be this safe you need to plan way ahead and I think people with true capital, they understand this, they appreciate this and they will double down on investing in the UAE."

"If you think that we have good education system and good healthcare system, now you know that we are really a safe country." Alaabar said.