Dubai Property Recovery 2011 - Jones Lang La Salle

Major real estate firm Jones Lang LaSalle has stated its expectation that the Dubai property market will recover in 2011, following research conducted into the country.

Their report said Dubai's property market has been among the worst-affected in the region and is likely to face worse results than elsewhere, as its economy is closely linked to international markets.

This, along with oversupply problems will see the Dubai property downturn persist until 2011.

The research also forecast that developers will turn to cost-effective housing, as developers focus on functional and affordable developments, rather than the "iconic" projects of the past.

The research also pinpointed potential investment opportunities in middle-income housing, as well as in Abu Dhabi's commercial sector.

Developers will also see benefits from falling construction costs, with rents and land purchase prices also becoming considerably cheaper.