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IMF suggests Dubai consider more steps to curb property speculation
May 6, 2014 / 6:26 AM / 3 years ago

IMF suggests Dubai consider more steps to curb property speculation

DUBAI, May 6 (Reuters) - Dubai should consider stronger measures to dampen what could be speculative real estate transactions in the emirate, a senior International Monetary Fund (IMF) official said on Tuesday.

“We welcomed when in the fall the government of Dubai and the central bank took measures to try to dampen what can become a speculative increase. Our own view is that these measures are good ... but it’s time to consider stronger measures,” Masood Ahmed, director of the IMF’s Middle East and Central Asia department, told a presentation of the regional economic outlook. (Reporting by Martin Dokoupil; writing by Rania El Gamal, Editing by William Maclean)

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