Property prices in Dubai are unlikely to decline by 2010, as against predicted in the recent reports, but, there will be a correction in profits, revealed the top officials at Dubai Land Department (DLD).

Although several reports and analysts are predicting a dim future for Dubai's property sector, optimists are still of the opinion that it is just the beginning of success for Dubai.
According to CEO of RERA(Real Estate Regulatory Authority), Marwan Bin Ghalita, there will be correction in few places, but only in profit. Instead of making a profit of 20 percent, may be, several investors will make a profit of 5 percent, but they are not losing anything.
A 10 percent decline in Dubai property prices is likely towards 2010, said a recent Morgan Stanley report.
Even the investment Bank, EFG Hermes, in their report mentioned that a 20 percent decline in property prices is likely towards 2011.