Dubai property developer Nakheel is witnessing a slowdown in the rate of real estate sales but demand in the emirate continues to outpace supply, its chairman said in remarks published on Monday.

"If we look at Nakheel, despite the change in the rate of sales, it is nevertheless continuing to sell at a smaller scale," Sultan bin Sulayem said, according to daily Al-Khaleej.

 "Some think that waiting contributes to the decrease in prices through talk of their being a surplus in the market but reality is totally different ... Even if demand stabilises at its current levels and does not increase, supply does not cover except a small part of that."    
Projects of Dubai World -- holding company of Nakheel and other firms including DP World -- would not be cancelled, bin Sulayem added. - Reuters