Dubai 'will shed property oversupply in 20 months'
Dubai, November 29, 2010
The chairman of Emaar Properties said on Monday Dubai's real estate sector had reached a bottom and expected the market to clear oversupply in a period of 20 months.
Mohammed Alabbar also told a conference in Dubai he saw "great opportunities" in Algeria, without elaborating.
Emaar is the United Arab Emirates' largest listed property firm and the developer behind the world's tallest tower Burj Khalifa. - Reuters
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