7 Hrs
Source:
الاقتصادية
Alabbar: Cancellations Drop Below Pre-War Levels
The article discussed the recovery of the UAE real estate market. Mohammed Alabbar, the Managing Director of Emaar Properties, confirmed that reservation cancellations have decreased to less than 600 units per month, returning to pre-war levels, after rising to 1,200 units during the regional tensions. He noted that monthly sales are around 4,000 units, and Emaar's outstanding backlog stands at 180 billion dirhams, with a collection rate of 98%, reflecting ongoing client commitments and market stability. He added that providing a safe and stable environment enhances the UAE's attractiveness to investors and families, emphasizing the importance of maintaining financial discipline and preparing for economic changes. He warned that companies that delay adopting artificial intelligence risk falling behind, as AI is expected to improve productivity and reduce costs in the coming months.
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