The sales of residential properties in Dubai, UAE, are likely to slide by one to five per cent in the first half, before stabilizing in the second half of the year, said a report.

However, the retail property sales in Dubai will continue to rise through out the year, stated leading consultancy Deloitte in its recent financial advisory.

The super prime malls will experience further growth in tourist numbers whilst residents will drive demand for convenience retail and non-mall retail concepts, it added.

Hafeez Abdullah, the chairman of The H Holding Enterprise said: "For many new comers, the real-estate industry has been giving excellent returns. Dubai's property market has experienced another year of change, with a leveling off in capital growth, in certain areas, towards the end of the calendar year."

Dubai, he stated, was engaged in upgrading the city’s infrastructure ahead of Expo 2020, which promises to be the best in the event's history.

"This is being done through infrastructure spending and encouraging foreign investments in various sectors, which will provide market support over the next five years," he added.

According to Abdullah, the property is yielding the highest returns. "We are satisfied with the current scenario in the construction market in Dubai. We have established businesses in various property-related segments, including facilities management," he noted.

H Holding is aiming to grow its portfolio to Dh500 million ($136 million) by the end of 2015 and is confident of achieving this target, he added.

Deloitte experts believe that residential transactions have slowed to more sustainable levels, reflecting a longer term trend, and predict this level of transactions to continue for the rest of the year.

Abdullah said tourism played a key role in shaping the industry, with many big-time developers starting to shift their focus to international tourist footfall.

"The world now knows Dubai as a dream vacation destination. This naturally boosts the demand for hospitality and residential units," he noted.

"Experts believe that factors like central location centrally with good access to public transport, ease of car parking, high quality specifications and wide range of amenities trigger high occupancies and attracting pricing," he added.-TradeArabia News Service