The demand for homes and offices in Dubai will continue to exceed supply in the coming years, a leading UAE-developer said, the latest to dismiss theories of a bubble in the emirate’s real estate market. Mehdi Amjad, president and chief executive of Omniyat Holdings and Omniyat Properties, said the imbalance between supply and demand in Dubai's buoyant real estate market is expected to continue well into the next decade. (Photo by Getty Images)
The small kingdom is among the most economically vulnerable of the GCC states, with high debt levels, low reserves and slow GDP growth. But it has identified jewels in its accelerating non-oil economy that will help it forge a new path for the future.