Jet,
It's all about ones opinion and finding value. As stated, the other option is to invest outside of Dubai; just because your job is here, doesn't mean you must invest in the place.
If you are with EK, with prices where they are now, you're much better to stay in company provided accomodation than stretch yourself in these market conditions. If you got in early, good for you, you've reduced a lot of the downside risk.
For now, just ask around and hear what is going on. Most of my friends are in the market and have done well, but as transactions almost halted, an adjustment of price is upon us. Let's just hope it's minor and doesn't wipe out those who are severely leveraged in this market.