Pearl CEO: Dubai property to recover by end 2011

Santhosh Joseph, CEO of Dubai Pearl has said Dubai's property market will recover by the end of 2011, as mortgages become easier to obtain and more people move to the city, Bloomberg has reported. "Banks can't stay away for long," Joseph told the news service. "They have to lend and, historically, most of this region's lending goes into property...We're not expecting to sell substantially in 2010 and 2011. We are a zero-debt company but we may look into leveraging at a later date," he said.