Dubai's real estate boom will continue: Property Finder CEO

Unlimited land supply, population growth will sustain market, says Michael Lahyani

- BY DHANUSHA GOKULAN Chief Reporter MANJUSHA RADHAKRISHNAN

Dubai's property prices are expected to continue rising for the foreseeable future, as unprecedented population growth outpaces new supply, Michael Lahyani, CEO and founder of Property Finder, told The Hustle podcast by Gulf News.

Property Finder, which recently secured a major investment from global private equity giants Blackstone and Permira — a whopping $525 million for a 'minority' stake in the prop-tech giant, is on a roll, and Lahyani is optimistic.

He addressed one of the most pressing questions for UAE residents: Why aren't rents decreasing despite constant construction?

"The demand that is coming from immigration is always higher, or at least in the last five years has been higher than the supply," he explained.

Dubai has room to grow