Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE realty to remain bullish after 10%-15% price surge  Join our daily free Newsletter

MENAFN - Khaleej Times - 07/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Firm support to come from sector reforms booming economy

Abu dhabi experienced relative stability in rental prices during the first quarter. — kt file photoFollowing a buoyant first quarter that saw selling and lease price increases of between 10 per cent and 15 per cent the overall prospects for the uae real estate market remain bullish on the back of property sector reforms and a booming economy a market intelligence report said.


Abu dhabi’s upbeat market combined with dubai’s re-emergence as a leading global realty hub will sustain the momentum that began in the third quarter of 2013 said masood al awar chief executive officer of tasweek real estate development and marketing.


“the key drivers for enduring growth in the realty sector for this year will be transportation and infrastructure safe returns over various asset classes trustworthiness of the market increased transactions strong and continuous government support and innovative and increasingly ‘smart’ technologies” said al awar.


In the first quarter of 2014 real estate units in the uae recorded average selling and lease price increases of between 10 per cent and 15 per cent. this comes after reported highs of 35 per cent to 40 per cent in the fourth quarter of 2013 the tasweek report said.


“this relative lull in the property sector is attributed to the continuous delivery of new units into the market as well as dramatic rise in prices after dubai successfully won the bid to host world expo 2020” the report said.


“the uae real estate sector has witnessed significant growth in the first quarter particularly in dubai and abu dhabi. this is in terms of asset prices transaction volume and capital availability for refinancing rescheduling and repayments. we have to note that international investor sentiments have improved globally with better returns compared to risk elements” said al awar.


Abu dhabi experienced relative stability in rental prices during the first quarter except in the high-end and freehold properties which continue to command a high percentage of price increase it said.


“in general the abu dhabi realty sector looks forward to the launch of new mega projects announced last year in the city area and the al gharbia region. in the residential segment some areas have seen an increase in rents by almost 50 per cent soon after the abu dhabi government decided to remove the minimum rental cap of five per cent” the report said.


Prices continued to increase in the first quarter however at an average of 15 per cent particularly in luxury one- and two-bedroom apartment units. the selling prices have seen a slowdown in the same period averaging 10 per cent after an increase of 20 per cent in the last quarter of 2013.


Abu dhabi’s office property segment saw a decline of between 10 per cent to 15 per cent per square metre because of more supply of new office units than demand.


In dubai real estate prices immediately leapt by an average of 20 per cent post the expo 2020 win. however growth slowed down in the first quarter of 2014 bringing the property prices to a more realistic level of a 10 per cent to 15 per cent increase. this trend will continue for the year as businesses wait for the government to announce projects related to the world expo according to tasweek.


“while dubai’s residential property market has been on a boom the leasing prices for office spaces on the contrary have been slower with a growth noted only in properties located in prime areas such as shaikh zayed road that has seen the highest increase in leasing prices.


“the best deals for residential rental properties can be found in international city dubai silicon oasis discovery gardens and tecom while international city dubai silicon oasis dubai investments park tecom and dubailand offer good buying propositions. in the office category the best deals for buying as well as renting are available at dubai investments park jumeirah lake towers and dubai silicon oasis” the report said.


Abu dhabi experienced relative stability in rental prices during the first quarter. — kt file photoAbu dhabi experienced relative stability in rental prices during the first quarter. — kt file photo



 


Khaleej Times




  MENA News Headlines
 May 6 2016 - Omani new rail-network to surge exports considerablyMENAFN
(MENAFN) As the aspiring Omani national rail network currently under development connects prodigious mining sites with the Sultanate's maritime gateways, gypsum exports along other minerals will ...

 May 6 2016 - Air strikes on Syria displaced c killing 28 as Aleppo truce holdsThe Peninsula
(MENAFN - The Peninsula) Syrians carry a giant pre-Baath Syrian flag as they shout slogans during an anti-regime protest in the rebel-held Bustan al-Qasr district in eastern Aleppo on May 5 2016. The ...

 May 5 2016 - Qatar- Ronaldo hails Zidane as Real reach Chions League finalThe Peninsula
(MENAFN - The Peninsula) Real Madrid's Portuguese forward Cristiano Ronaldo controls the ball during the UEFA Champions League semi-final second leg football match Real Madrid CF vs Manchester City ...

 May 5 2016 - Qatar could host Summer Olympics says CoeThe Peninsula
(MENAFN - The Peninsula) President of the International Association of Athletics Federation (IAAF) Sebastian Coe (L) and Presdient of the Qatar Athletics Federation (QAF) Dahlan Al Hamad (R) speak ...

 May 5 2016 - Qatar Aquabike chionship to begin on FridayThe Peninsula
(MENAFN - The Peninsula) DOHA: The third round competitions of Qatar’s Local Aquabike Championship 2016 organized by the Qatar Sailing and Marine Sports Federation (QSMF) will get underway ...

 May 5 2016 - Gulf Air's FalconFlyer and Europcar in dealThe Peninsula
(MENAFN - The Peninsula) Gulf Air and Europcar officials signing the agreement. Manama: Gulf Air the Kingdom of Bahrain’s national carrier yesterday announced a partnership between the ...

 May 5 2016 - Visitors from Qatar to Dubai increase by 26 in Q1 2016The Peninsula
(MENAFN - The Peninsula) Doha: Dubai welcomed 4.1 million overnight visitors in the first three months of 2016 a 5.1% increase over the same period last year backed by strong double digit ...

 May 5 2016 - Joyalukkas wins Best Service Performance Brand awardThe Peninsula
(MENAFN - The Peninsula) Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum honouring Joy Alukkas Chairman Joyalukkas at a function in Dubai. Dubai: The eponymous Joyalukkas Jewellery received ...

 May 5 2016 - Qatar- Real estate deals at QR580.6m in last week of AprilThe Peninsula
(MENAFN - The Peninsula) DOHA: The combined value of Qatar’s real estate transactions during the fourth week of April (from 24-28) amounted to QR580.6m showing over 57 percent growth compared ...

 May 5 2016 - Qatar- SP affirms QIB's long-term ratingThe Peninsula
(MENAFN - The Peninsula) DOHA: S&P Global Ratings has affirmed Qatar Islamic Bank’s (QIB) “A-/A-2” long and short term counterparty credit ratings. QIB’s rating reflects ...

 May 5 2016 - Qatar bourse and Goldman Sachs launch London roadshowThe Peninsula
(MENAFN - The Peninsula) DOHA: Qatar Exchange (QSE) in coordination with Goldman Sachs yesterday commenced in London a roadshow that aims to promote investment in the Qatari companies listed on QSE ...

 May 5 2016 - Vodafone Qatar unveils Connect Plans schemeThe Peninsula
(MENAFN - The Peninsula) Vodafone officials at the launch of the company’s ‘Connect Plans’ scheme at the Four Seasons Hotel in Doha yesterday. Pic: Baher A / The Peninsula ...

 May 5 2016 - Qatar for joint efforts to rejuvenate global economyThe Peninsula
(MENAFN - The Peninsula) Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani with Chairman of the Presidential Council of the Republic of Bosnia and Herzegovina Bakir ...

 May 5 2016 - Philippines' leading airline Cebu Pacific boosts direct service to DohaThe Peninsula
(MENAFN - The Peninsula) DOHA: The Philippines’ leading airline Cebu Pacific (CEB) will add a frequency between Manila and Doha beginning July 9. The only Philippine carrier flying non-stop ...

 May 5 2016 - Qatar Today announces second edition of business excellence awardsThe Peninsula
(MENAFN - The Peninsula) DOHA: Qatar Today has announced the second edition of its Business Excellence Awards. The event being held under the auspices of Qatar Stock Exchange will identify ...

 May 5 2016 - Qatar Chamber participates in food security meetThe Peninsula
(MENAFN - The Peninsula) Sheikh Khalifa bin Jassem bin Mohammed Al Thani (left) Chairman Qatar Chamber at the Food Security Conference held in Fujairah. DOHA: Qatar Chamber (QC) participated ...

 May 5 2016 - KidzMondo set to open at Mall of QatarThe Peninsula
(MENAFN - The Peninsula) Ali Kazma (left) KidzMondo Founder and Nabil Barakat General Manager during a press conference and groundbreaking event of KidzMondo Doha at Hilton Hotel yesterday. Pic: ...

 May 5 2016 - Four wounded after rockets hit Turkey's KilisThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) >Four people including a police officer were wounded after rockets fired from Islamic State of Iraq and the Levant (ISIL)-controlled territory hit the ...

 May 5 2016 - Turkey- Delegation from Turkish opposition party detained in IsraelThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) >A delegation from Turkey’s far-right Great Unity Party (BBP) was detained at Israel’s Tel Aviv airport early on May 5 the party and CNN Türk ...

 May 5 2016 - ISIL must be pushed back in northern Syria: Turkish ministerThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Islamic State of Iraq and the Levant (ISIL) must immediately be pushed back from the Turkish border said Turkish Foreign Minister Mevlüt ...

more...


 






Google

 
 

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