Dubai sets up committee to balance real estate market

Dubai has set up a real estate committee that has been tasked with balancing supply and demand in the sector, Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai said in a tweet on Monday.

The higher committee would be headed by Maktoum bin Mohammed and will include major developers, he added.

In another tweet, Sheikh Mohammed said Sheikh Maktoum will ensure semi-governmental real estate companies do not compete with the private sector and that a strategic comprehensive plan is developed for all property projects in Dubai for the coming ten years.