Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai's real estate sector casts its effects on SMEs  Join our daily free Newsletter

MENAFN - Khaleej Times - 29/03/2014
No. of Ratings : 0
Add to Mixx!



(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.


“in our view real estate market is growing in every sector and it will continue foreseeable future. expo 2020 is further advantage to dubai” he explained.


Building material suppliers know the true and inside picture of real estate market as they feel the impact very quickly in both scenario either its booming or burst.


Danube building material chairman rizwan sajan giving insight during the panel discussion said that it’s back on track.


“dubai has overcome the global financial crisis impact on real estate market during a record time. there is a lot of possessiveness as so many companies restarted stalled projects. we are back as building material companies in the next 5-6 years will be in the same growth path” sajan explained.


Responding a question he said: “the biggest mistake we do when we put all money in real estate. so my advise to smes is that they should keep some capital for running the business instead of putting all cash into property.”


Ahmad anani partner at latham and watkins said: “i think prices are going to go up and rising prices affects smes.” anani appreciated the dubai land department’s initiative to double property registration fees but said property prices jumped by 30 per cent last year.


— abdulbasit?khaleejtimes.com

 


Khaleej Times




  MENA News Headlines
 Dec 26 2014 - Russia hopes to host Syria talks in JanuaryThe Peninsula
(MENAFN - The Peninsula)  -Russia plans to host delegations from the Syrian opposition in late January, possibly followed by a visit by regime representatives that could bring the two sides together ...

 Dec 26 2014 - Lebanon's Hezbollah detains 'Israeli spy' in its ranksThe Peninsula
(MENAFN - The Peninsula)  Lebanon's Hezbollah has detained a senior party official it accused of spying for Israel and "sabotaging security operations" abroad, a source close to the movement said on ...

 Dec 26 2014 - Syrian rebel groups in Aleppo enter allianceThe Peninsula
(MENAFN - The Peninsula)  Rebel groups fighting in Syria's northern Aleppo province have agreed to form an alliance, a group monitoring the country's civil war said on Thursday.A lack of unity among ...

 Dec 26 2014 - Israel approves 243 new settler homes in East JerusalemThe Peninsula
(MENAFN - The Peninsula)  Israel has given preliminary approval for the construction of 243 new homes on West Bank land that Israel annexed to Jerusalem, and advanced plans for another 270 homes in ...

 Dec 26 2014 - Iraq, Turkey pledge to join hands to fight ISIS jihadistsThe Peninsula
(MENAFN - The Peninsula)  Iraq and Turkey on Thursday pledged to join forces to fight Islamic State insurgents who are holding swathes of Iraq and Syria."ISIS threatens not only Iraq's and Turkey's ...

 Dec 26 2014 - Tunisia arrests blogger for 'defaming' army officers: lawyerThe Peninsula
(MENAFN - The Peninsula)  Tunisian authorities have arrested a blogger who has been critical of the party of newly elected president Beji Caid Essebsi, as he returned home from France, his lawyer ...

 Dec 26 2014 - Qatar- Zakat Fund got 575 applications in November for aidThe Peninsula
(MENAFN - The Peninsula)  The Zakat Fund at the Ministry of Awqaf and Islamic Affairs received 575 applications for social assistance in the month of November.Zakat Fund, a charity dedicated to ...

 Dec 26 2014 - Kuwait commissions new gas processing plantThe Peninsula
(MENAFN - The Peninsula)  Kuwait has commissioned a new natural gas plant that will raise the energy-rich state's production capacity to more than 2 billion cubic feet a day, officials said on ...

 Dec 26 2014 - Egyptian pound steady on official and unofficial marketsThe Peninsula
(MENAFN - The Peninsula)  The Egyptian pound held steady at a central bank dollar sale on Thursday and on the black market.The bank offered $40 million and said it had sold $38.2 million at a cut-off ...

 Dec 26 2014 - Saudi lifts spending in 2015 budgetThe Peninsula
(MENAFN - The Peninsula)   Saudi Arabia will lift state spending to a record in its 2015 budget while covering a deficit with its huge fiscal reserves, the government said, providing the first ...

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