DUBAI: 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 yesterday. “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 stabilizes 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.
Investment Dar trading halted
KUWAIT: Kuwait Stock Exchange has halted trading in shares of Investment Dar until the firm discloses its third-quarter financial results, the bourse said in a statement on its website yesterday. The stock market has also halted trading in eight other firms that did not post their third-quarter earnings on time, according to the statement.
