(MENAFN -Khaleej Times) dubai?s real estate prices surged more than 30 per cent last year with further growth expected to come according to a recent report by global real estate firm jll
Real estate sector in dubai is booming again and the trend is expected to continue throughout the year but it’s not good for small and medium enterprises (smes) as it impacts negatively directly or indirectly according to industry specialists.
“bubble chances are significantly less at this time” alan robertson chief executive officer of jones lang lasalle (jll) for the middle east and north africa said during a panel discussion at sme world 2014 in dubai.
The panel members shed lights on the topic: ‘dubai’s real estate sector and its effect on smes’ with key themes — real estate as a critical input for smes the challenge of access to land and growth prospect for smes soaring real estate prices in dubai and their implications on sme sustainability.
Dubai’s real estate prices surged more than 30 per cent last year with further growth expected to come according to a recent report by global real estate firm jll.
Giving examples of measures taken by the uae central bank and dubai government robertson said these steps made it less attractive for short-sellers. he mentioned that rent is rising but as far as businesses are concerned the level of price increase has been much lesser.
“great thing about dubai is that there is very substantial supply.