The real estate prices in Dubai are unlikely to stabilize during the next five years, in case the rent-cap is not lifted, and if the government does not take initiative to implement measures that could contribute in improving the supply market, say experts.

Abu Dhabi is planning to create a legal framework to protect the emirate's property investors to support the current property boom, said senior government officials.

Nakheel, the Dubai-based largest and most innovative real estate developers in the world, has awarded the first building contract for residences at Waterfront to Mammut Group, an UAE-based building and construction enterprise.

The office rents in Dubai, and Doha are likely to go up by 20% next year, as the demand surpasses supply, and due to the expansion of international business in the Gulf region, revealed the property services company, CB Richard Ellis.