Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Residential real estate in Abu Dhabi rebounds  Join our daily free Newsletter

MENAFN - The Peninsula - 27/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Abu Dhabi's residential real estate market rebounded strongly last year from a slump, helped by government intervention, a report by a real estate advisory firm said yesterday



Prime residential sales prices jumped 25 percent in 2014, with an increase of six percent in the fourth quarter alone, Jones Lang LaSalle said.



Rents in prime residential projects increased 17 percent, with a rise of eight percent in the fourth quarter, driven partly by the creation of new jobs in Abu Dhabi and the removal of a five percent cap on rent rises, it said



Abu Dhabi's real estate market slumped about 50 percent from its peak in 2008 after the global financial crisis triggered a crash. The Jones Lang LaSalle reports suggests Abu Dhabi may now be recovering roughly as fast as neighbouring Dubai



The capital of the United Arab Emirates has been making attempts to boost its residential market through new rules for the last couple of years.



In 2012, Abu Dhabi pressed public sector employees who reside outside the emirate to relocate within its borders, which analysts said aimed to address heavy oversupply in its real estate market. Many employees commuted daily from Dubai



Last November, Abu Dhabi scrapped a five percent cap on annual rent increases. The cap had been imposed in Janury 2008 after surging demand drove rents and inflation higher




"A sustainable recovery is dependent on the government continuing to implement further supply controls to ensure a balanced real estate market going forward," said David Dudley, regional director and head of the Abu Dhabi office of Jones Lang LaSalle



Kuwait works to get two refineries back to full flo



KUWAIT: Kuwait hopes to get its Mina Abdullah oil refinery back to full production today but the Shuaiba refinery is expected to take longer to return to normal after a power cut last week, the operator said yesterday



The 270,000-barrels per day (bpd) Mina Abdullah refinery was running at about 60 percent of capacity yesterday, a spokesman for state-run Kuwait National Petroleum Company (KNPC) said



The 200,000-bpd Shuaiba refinery was running at just over 70 percent of capacity on Sunday. But it will take longer to return to full output because Shuaiba is an old plant, he said



The Opec member state has been using fuels held in storage to maintain exports while the three refineries that were shut down by the power fault return to full flow



The January 22 power outage shut down all three of Kuwait's refineries. KNPC returned the 460,000 bpd Mina Ahmadi refinery back to full production early on Friday

 


The Peninsula




  MENA News Headlines
 Feb 8 2016 - Genel and DNO receive US21.5mln for Tawke in January Proactiveinvestors UKProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) Oil producer Genel Energy (LON:GENL) has received notification from partner DNO that US$18mln has been paid for oil from the Tawke field in Iraq ro January. A ...

 Feb 8 2016 - Newspaper Briefing: January sales spurt provides relief for retailersProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) Proactive Investors Fri The Times January sales spurt provides relief for retailers: The souring economic mood failed to dampen the spirits of consumers who ...

 Feb 8 2016 - SP Angel Morning Oil Gas Genel Energy Union Jack Oil Petroceltic InternationalProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) SP Angel 09:53 Headlines Union Jack Oil* (LON:UJO0.12p)Keddington-5 Extension: Today's news of Keddington-5 is good for the Company as you have to make a ...

 Feb 8 2016 - Yemen's army advances towards Sanaa, officers saySaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Rabi'II 28, 1437, February 07, 2016, SPA - After having tightening its grip over Ghailama region, located in Mahali valley, the Yemeni army, assisted by the ...

 Feb 8 2016 - A fire flares up at Riyadh-based Al-Hammadi hospital efficiently contained by Red Crescent squadsSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Rabi'II 29, 1437, February 08, 2016, SPA - Red Crescent fire extinguishing squads have efficiently put out a fire that flared up at Riyadh-based Al-Hammadi ...

 Feb 8 2016 - Almost 90 of people in southern Syria live in extreme poverty ReportThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) At least 88 percent of families in the southern Syrian provinces of Daraa and Qunaitra are living in extreme poverty due to the ongoing civil war in the ...

 Feb 8 2016 - Citing betrayal some Syrian rebels withdraw from frontThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Syrian rebels in northern Syria have come under an intense week-long bombing campaign by Russian warplanes. The insurgents who also have been trying to hold ...

 Feb 8 2016 - Middle East is Zika-free zone, WHO saysSaudi Press Agency
(MENAFN - Saudi Press Agency) Cairo, Rabi'II 29, 1437, February 08, 2016, SPA - The Middle East office of the World Health Organization (WHO) today announced that the region is considered Zika-free ...

 Feb 8 2016 - Genel and DNO receive US21.5mln for Tawke in JanuaryProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) Oil producer Genel Energy (LON:GENL) has received notification from partner DNO that US$18mln has been paid for oil from the Tawke field in Iraq ro January. A ...

 Feb 8 2016 - Saudi PressSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Rabi'II 29, 1437, Feb 8, 2016, SPA - Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help