UAE gets Dh1.7tr freehold injection

Dubai: Members of Dubai Property Group (DPG) say Dh1.7 trillion has been injected into UAE freehold market with 30,000 units planned for delivery in 2007, but supply is still lacking for mid-income earners.

The group, which is made up of developers, consultants and real estate agents, also says the enormous growth in the real estate sector should be bolstered with legislation aimed at regulating the market and driving strong future growth

About 14,700 units were planned to be delivered in 2006 and another 30,000 units are expected for 2007.