Mubasher: Mohamed Alabbar, Chairman of UAE's developer Emaar Properties, said Dubai traces investor sentiment in neighboring countries like Saudi Arabia and Kuwait, which it is not much affected by the decline in oil prices.

Crude oil currently trades at $27.20 per barrel, which is the lowest price in 12 years, while Brent trades at $31.29 per barrel.

Speaking to Alarabiya satellite channel, Alabbar added that Emaar seeks to expand and seize investment opportunities in India.

The chairman also noted that his company posted strong and encouraging financial results in January.

Dubai-listed Emaar reported AED 1.034 billion ($281 million) in the fourth quarter of 2015, compared with AED 1.045 billion ($284 million) in the year-ago period.