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
 Feb 28 2015 - Abu Dhabi's economy to remain strong in 2015MENAFN
(MENAFN) Abu Dhabi's economy will remain resilient and its fiscal policy will stay prudent and flexible over the next two years despite the depressed oil price scenario, Khaleej Times ...

 Feb 28 2015 - Sudan explores investment opportunities for Saudi investorsMENAFN
(MENAFN) A high-level Sudanese delegation headed by Investment Minister Mustafa arrived to explore investment opportunities for Saudi investors in Sudan, Arab News reported.Trade exchange between the ...

 Feb 28 2015 - Qatar's PPI down 10.6 percent in December 2014MENAFN
(MENAFN) The Qatari Ministry of Development Planning and Statistics (MDPS) said Producer Price Index (PPI) decreased 10.6 percent last December month-on-month, QNA reported.The index decreased 28.9 ...

 Feb 28 2015 - 'Jihadi John' killer from Islamic State beheading videos unmasked as LondonerThe Peninsula
(MENAFN - The Peninsula) The masked "Jihadi John" killer who fronted Islamic State beheading videos has been identified as Mohammed Emwazi, a British computer programming graduate from a well-to-do ...

 Feb 28 2015 - Banksy Goes Undercover To Make Gaza FilmThe Peninsula
(MENAFN - The Peninsula) Banksy has released a video of a satirical travel advert for Gaza after travelling to the area undercover.The film, posted on the elusive artist's website, appears to show ...

 Feb 28 2015 - World champion Cairoli tops Qatar qualifyingThe Peninsula
(MENAFN - The Peninsula) Defending champion Antonio Cairoli brought delight to his KTM camp last night by topping the time charts in the season's first official qualifying session of the 2015 FIM ...

 Feb 28 2015 - Cricket: UAE bat against India in World CupThe Peninsula
(MENAFN - The Peninsula) United Arab Emirates captain Mohammad Tauqir won the toss and decided to bat in the World Cup Pool B game against India at the WACA Ground on Saturday.In announcing his ...

 Feb 28 2015 - Turkey, US to begin training Syria rebels from SundayThe Peninsula
(MENAFN - The Peninsula) The United States and Turkey will begin training and equipping thousands of moderate Syrian rebel forces on Sunday as part of a deal the two NATO allies signed last week, an ...

 Feb 28 2015 - Italian MPs approve Palestinian resolutionThe Peninsula
(MENAFN - The Peninsula) Italian lawmakers yesterday backed a non-binding resolution that encourages the government to recognise Palestine as a state, a move that underlines European frustration over ...

 Feb 28 2015 - Lebanon-born Syrian refugees risk stateless issueThe Peninsula
(MENAFN - The Peninsula) Syrian refugee Yasmine Khalaf lies next to her day-old daughter Israa in a Lebanese hospital, worrying that her tiny newborn risks life without a legal identity. Israa, ...

more...


 






Google

Internatinal Property Show

 
 

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