Arab Today, arab today dubai real estate market delivers positive performance in q2 2014
Last Updated : GMT 10:48:56
Arab Today, arab today
Arab Today, arab today

Dubai real estate market delivers positive performance in Q2 2014

Arab Today, arab today

Arab Today, arab today Dubai real estate market delivers positive performance in Q2 2014

Dubai real estate market
Dubai - WAM

The Dubai real estate market maintained its positive performance in Q2 2014, according to Dubai Real Estate Overview issued by JLL, the world's leading real estate investment and advisory firm.
The second quarter (Q2 2014) report provides the consultancy's perspective on the latest trends in the office, residential, retail and hotel sectors in the Dubai market.
Commenting on the report, Craig Plumb, Head of Research at JLL MENA, said: "The Dubai real estate market maintained its positive performance in Q2 2014. Although the residential sector saw prices and rents increase across most areas, there are signs that the rate of growth is slowing down as Q2 experienced a marked slowdown in the volume of residential sales, particularly in respect of existing villas. While the retail and hotel sectors continue to experience growth, recovery in the office sector remains patchy with the large level of supply and high vacancy rates placing pressure on overall rental values. The major news about the proposed Mall of the World in the Umm Sequeim area reflects confidence for both the retail and hotel sectors." Residential: Although the residential sector saw prices and rents increase across most areas, the rate of growth has started to slow from that seen earlier in the year. Average sale prices grew by 6% in Q2, down from 10% in the previous quarter. With signs of reduced sales activity (particularly in the secondary villa market), it is likely that asking prices in this sector will decline further in coming months. Sales volumes have declined in all sectors recently, with data from the Dubai Land Department showing villa sales in May 2014 down by almost 50% on the same month in 2013.
Office: While continued economic growth has improved sentiment and generated demand for commercial space, the high level of both current vacancy and future supply continue to constrain the market. The Dubai office market operates as a number of quite different submarkets, based upon location, tenure (strata or single ownership), licence structure (free zone / onshore) and quality. While overall market vacancies remain high (25%), there are pockets of shortage that have resulted in major occupiers seeking to have new space built for their requirements rather than occupy sub optimal space in existing buildings.
Retail: With limited additions to stock and continued interest from retailers, rents in the best performing super regional malls have increased by as much as 12% over Q2. Increases have been more modest in smaller centres and secondary malls but the retail sector has benefitted from higher spending from both tourists and local residents. Confidence in the retail market is reflected in the announcement of the Mall of the World (a planned new mall around twice the size of the Dubai Mall, on Sheik Zayed Road immediately opposite the existing Mall of the Emirates.Hotel: Despite the completion of around 1,500 additional rooms in Q2, the Dubai market continues to grow, recording the highest Rev-PAR levels since 2008. Average occupancies remained relatively stable at around 85% during the year to May 2014, with room rates increasing by 3% to USD276 making Dubai one of the strongest performing hotel markets globally.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai real estate market delivers positive performance in q2 2014 Arab Today, arab today dubai real estate market delivers positive performance in q2 2014

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai real estate market delivers positive performance in q2 2014 Arab Today, arab today dubai real estate market delivers positive performance in q2 2014

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday