(MENAFN) MPM Properties said in a new report that despite 2014 being a year of further growth for Dubai real estate market, the last quarter of the year witnessed a decline in values of the deals in some areas in the emirate, Arab News reported.
In the residential sector, sales values increased 15 percent during 2014, while the prices during the October-December increased by 4 percent, rental values, on the other hand, grew 10 percent across Dubai during 2014, but stayed flat during the fourth quarter of 2014.
The report indicated that the increase in the real market deals happened as major private developers, including GiGico, Damac and Danube launched new projects in the emirate, with Dubai witnessing the launch of 50 projects during 2014, which are expected to deliver over 13,000 units to the market, adding that it expects that approximately 700.000 square meter of new office space is due to enter the market by the end of 2015 as well.
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