Supply of new homes 'to moderate' in Dubai

Union Properties CEO says market will self-regulate over the next two years

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The chief executive officer of Dubai's Union Properties PJSC expects surging construction and land costs to put the brakes on the supply of new homes in the emirate's booming real-estate market.

"The market is going to regulate itself over the coming two years, just by the inflation and construction costs and inflation in land value," said Amer Khansaheb, the CEO of Union Properties, publicly traded developer in the emirate that has seen its stock surge over the past two years.

"This should be good for investors because as supply comes down a bit, it will regulate the demand."