Dubai’s recent $26bn debt restructuring announcement will not affect the emirate’s real estate market, a leading property developer said on Monday.

'It will have no significance because restructuring is a normal word,' Abdul Majeed Ismail Al Fahim, chairman of Dubai Pearl, told Arabian Business.

Residential property prices in Dubai increased by 7% during the third quarter, the first increase since they started plummeting last year amid the downturn, according to Colliers International