The head of a Dubai construction company has said claims the country 's property market is oversupplied “So, it begs the question… are ' false and unreliable ' . Head of Damac Properties , Ziad El Sheikh , said the figures put out by research firms are not accurate , as there wil be a total of 5000 new units supplied to the market in 2010 , rather than the 25,000 suggested by recent market research reports . He added that 160,000 new residents are expected to arrive in Dubai this year , with another 170,000 next yeaar , indicating the growing demand for new housing .
The head of a Dubai construction company has said claims the country 's property market is oversupplied are ' false and unreliable ' . Head of Damac Properties , Ziad El Sheikh , said the figures put out by research firms are not accurate , as there wil be a total of 5000 new units supplied to the market in 2010 , rather than the 25,000 suggested by recent market research reports . He added that 160,000 new residents are expected to arrive in Dubai this year , with another 170,000 next yeaar , indicating the growing demand for new housing .