JLL: Top Trends for UAE Real Estate in 2011
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The road to home finance has been a long one for the Kingdom, but with its highly anticipated mortgage law edging ever closer to ratification, would-be homeowners and financial institutions are gearing up for a new era of opportunity.
With the announcement this year of a US$66.7 billion initiative to address the demand-supply imbalance in the Kingdom’s housing market, social infrastructure spend is topping the Government agenda as it focuses on building affordable homes for the future.
The South-East Asian island has seen a number of distinctive developments come to fruition over the past few years as the country further establishes itself.
The recent political shifts within MENA reinforce the strategic importance of the United Arab Emirates as a regional hub.
Jones Lang LaSalle's latest report presents its "Top 11 predictions in 2011," highlighting the key trends that will shape the UAE real estate market in the coming year and beyond.
Some of these predictions are:
- Declining rents will make most sectors of the UAE real estate market more favourable to tenants in 2011.
- Dubai has passed the peak in the construction pipeline, with lower levels of supply expected in 2011 than in 2010 in most sectors. In Abu Dhabi, the supply pipeline is still peaking with higher supply expected in 2011 than in the previous year.
- The quality of property and asset management will become an increasingly important factor determining the success and performance of individual real estate projects in both Abu Dhabi and Dubai in 2011.
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