Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Demand for commercial properties to rise in Dubai  Join our daily free Newsletter

MENAFN - Khaleej Times - 09/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN -Khaleej Times) Dubai?s high quality infrastructure and geographical location, positions it as one of the best cities in the world to live and do business

International property agency Chesterton stated on Saturday that the demand for offices and commercial properties in Dubai will further grow in 2014, due to the rising confidence in both Dubai’s economy, and the real estate sector.


Simon Gray, managing director, Chesterton Mena said: “We foresee significant growth in the commercial market during 2014 driven by bright economic prospects. Demand for office space will increase as companies move out of older offices to the ones with better quality and amenities. Furthermore, ownership of office space will also increase as rents climb higher.”


“Warehouses and logistics will come back into focus with the expansion of the airport and other logistics projects gaining momentum. Dubai will once again be billed as the ‘crane capital’ of the world with several mega projects in the pipeline. We expect 2014 to be another positive year for real estate sector in the UAE, Dubai in particular,” he predicted.


“We entered 2014 with a lot of optimism and positivity, spurred by last year’s industry performance and Expo 2020 win. Medium term growth forecasts for the economy have improved business confidence as more companies plan expansion activities to take advantage of economic opportunities arising from infrastructure spending over the next five years,” Gray said.


“We expect residential markets to stabilise after a rapid growth over the last year, rentals however, could still see significant growth. Developments located in secondary areas such as Dubailand are expected to see higher growth. An extension of the red line of Dubai Metro could see increases in property values across the railway route,” Gray added.


Gray also explained that Dubai’s high quality infrastructure and geographical location, positions it as one of the best cities in the world to live and do business.


“We believe that the residential property market will also grow at a faster pace over the next five years as more people choose to make Dubai their home.


“The Expo 2020 win has provided just the right boost. Industry stakeholders are now convinced that the downside risks to the sector are over and the upside potential is unlimited. The market has started buzzing after a pause which prevailed before the pre-Expo 2020 win era,” he noted.


“With increased economic activity we expect the office sector to stabilise after a prolonged period of limited activity. We expect an increase in demand for medium to small office units as new  businesses providing ancillary services set up or expand in the Emirate,” said Gray.


Chesterton with its Middle Eastern headquarters in Dubai offers a full range of property services, including residential and commercial sales and leasing. In addition, the company provides professional property valuation services together with the valuation of plant and machinery. Chesterton Mena also has a very active international sales division, based in Dubai, specialising in the sale of prime, central London residential apartments and houses to investors from across the entire Mena region.



 






  MENA News Headlines
 Jul 23 2014 - Death, displacement mar Eid in Sudan's DarfurAFP
(MENAFN - AFP) Shafia Abdullah's Sudanese family is consumed with thoughts of vengeance after militia shot him dead during the Muslim holy month of Ramadan, ending his advocacy for Darfur's displaced ...

 Jul 23 2014 - UN Emergency Fund gives 75 million to boost aid operations in the Sahel and Horn of AfricaMENAFN Press
(MENAFN Press) NEW YORK July 23 2014/African Press Organization (APO)/ -- United Nations humanitarian chief Valerie Amos has allocated US$75 million from the UN Central Emergency Response Fund (CERF) ...

 Jul 23 2014 - Greater efforts needed to protect MPs in Somalia IPU saysMENAFN Press
(MENAFN Press) GENEVA Switzerland July 23 2014/African Press Organization (APO)/ -- The Inter-Parliamentary Union (IPU) has called for greater efforts to protect MPs in Somalia after the ...

 Jul 23 2014 - Orange and Emmas International launch their 5th African mobile telephone recycling facility in AbidjanMENAFN Press
(MENAFN Press) ABIDJAN Côte d'Ivoire July 23 2014/African Press Organization (APO)/ --  as part of its ongoing commitment to encouraging recycling of mobile devices launched in 2005 Orange ...

 Jul 23 2014 - Majid Al Futtaim posts USD3.5b H1 revenuesMENAFN
(MENAFN) Dubai-based shopping mall developer Majid Al Futtaim (MAF) posted a 14 percent growth in the first-half revenues, citing growing earnings across its business units, Emirates 24/7 ...

 Jul 23 2014 - Bahrain's BCFC profit up 13 percent in H1MENAFN
(MENAFN) Bahrain Commercial Facilities Company (BCFC) saw a 13 percent rise in consolidated net profit at USD19.1 million in the first half of the current year compared to USD16.88 million in the ...

 Jul 23 2014 - Africas oil amp gas sector continues to show substantial growth despite regulatory uncertainty and corruption according to PwC ReviewMENAFN Press
(MENAFN Press) JOHANNESBURG South-Africa July 23 2014/African Press Organization (APO)/ -- The challenges facing oil & gas companies operating in Africa continue to be diverse and numerous ...

 Jul 23 2014 - PS McLeod to Announce New Funding for Humanitarian Assistance for Children in the Democratic Republic of the CongoMENAFN Press
(MENAFN Press) OTTAWA Canada July 23 2014/African Press Organization (APO)/ -- Ms. Cathy McLeod Parliamentary Secretary to the Minister of Labour and for Western Economic Diversification will host a ...

 Jul 23 2014 - MP Opitz to Make an Announcement Regarding Humanitarian Assistance in SomaliaMENAFN Press
(MENAFN Press) OTTAWA Canada July 23 2014/African Press Organization (APO)/ -- Ted Opitz Member of Parliament (Etobicoke Centre) on behalf of the Honourable Christian Paradis Minister of ...

 Jul 23 2014 - South Sudan Cholera threatens lives of thousands during harsh rainy seasonMENAFN Press
(MENAFN Press) GENEVA Switzerland July 23 2014/African Press Organization (APO)/ -- With the rainy season nearly at its peak in South Sudan cholera continues to spread in the war-torn country. The ...

more...


 






Google

Live Currency Rates

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help