Dubai banks are well buffered against a property correction, says Fitch Ratings
Anton Lopatin, Senior Director at Fitch Ratings explains how cash flows of Dubai developers have improved with the higher prices in the property boom. That's helped to significantly reduce banks' exposure to the sector, and would help them weather a property correction. He adds that investors should focus on Dubai's prime real estate assets as market liquidity shows signs of cooling, noting that some owners are struggling to sell units and are shifting to short-term rentals to sustain yields.
