The Dubai real
estate market has certainly got hotter over the last six months with property
prices rising sharply, new mega developments being announced, landlords
increasing their rents overnight and the extra hype surrounding Dubai’s bid on
World Expo 2020, due to be announced within the next few days.
Yet, most analysts say the market
is healthy, driven by strong fundamentals unlike the one in 2008. Investor
confidence is gushing in, more people are buying property, banks are lending
cautiously and more regulation to boost transparency within the industry is
kicking in.
Despite this, the question on most
people’s lips in Dubai is whether or not the emirate is heading towards another
unforeseen downturn. Tapping this potential for bubble talk is
propertyfinder.ae, UAE’s leading property portal, which has gone all out by
wrapping its 40-storey office tower in Dubai Media City with a massive advert
‘Keep Calm There’s No Bubble’.
The advertisement has generated
incredible reaction on social media circles internationally, with some
applauding the creativity and audacity of the message and others labelling the
campaign controversial.
In response to all the chatter
that this single advert has generated, Michael Lahyani, CEO and Founder of
propertyfinder.ae commented, “We don’t have a crystal ball at the
propertyfinder towers offering us a view of the future. We simply want to drive
the bubble debate by delivering an idea in a way that is both humourous and
unexpected to encourage people to stop and share their views.”
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