Dubai’s economy went through several years of expansive growth in the years following the turn of the millennium, with much of this driven by an active and rapidly expanding construction sector. Indeed, such was the pace and scale of activities at the time that a popular claim had it that the emirate was home to around 20% of the world’s cranes at the height of the boom in 2006. Even though...
UAE: Dubai Real Estate Articles & Analysis
Chapter | Construction & Real Estate from The Report: Dubai 2019
Near-term sentiment is on the rise among Dubai’s business leaders, with the IMF forecasting a healthy GDP growth rate of 4.2% in 2019 for the emirate. While not as exposed as some of its regional neighbours to the effects of fluctuating commodities prices in recent times, Dubai nevertheless stands to benefit from the knock-on effects of higher prices over the last year.
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Articles & Analysis | Portal to tomorrow: A new digital platform should reduce real estate market friction from The Report: Dubai 2019
As the global economy becomes increasingly digitised, the Dubai Land Department (DLD) and its legal arm, the Real Estate Regulatory Agency (RERA), have aimed to stay ahead of the curve. In May 2018 they announced that they had begun developing the Real Estate Self Transaction (REST) platform, an online portal that will enable all aspects of real...
Articles & Analysis | Revised blueprint: Legal and structural changes lay the groundwork for recovery from The Report: Dubai 2019
Even as a years-long softening in the rental and sales prices of Dubai’s real estate continued in 2018, industry experts agree that any further market corrections from the highs of 2014 that have not yet played out will not extend beyond 2020. Moreover, amid the decline in average property prices, the sector has grown considerably both in absolute...
Articles & Analysis | Sustainable urbanisation: As urban populations undergo rapid growth around the globe, planners are striving to create efficient spaces from The Report: Dubai 2019
In 2008, for the first time in history, more than half of humanity was living in urban areas. Perhaps the most remarkable observation about this trend is the speed at which it has happened: as recently as 1900 urban areas accounted for 13% of the global population. Towns and cities are seen as the crucibles of opportunity for many rural dwellers....
Articles & Analysis | New ends, new means: The financial market responds to interest in industrial property from The Report: Dubai 2019
The performance of Dubai’s industrial real estate was mixed in 2017. Even as achieved rents for grade-B stock fell significantly in 2017 and the first quarter of 2018, achieved rents of grade-A stock in Jebel Ali Free Zone and Dubai Investments Park grew by 16.7% and 6.7%, respectively, according to the latest issue of Knight Frank’s “UAE Industry...
Articles & Analysis | Keeping apace: Sustaining inward migration depends on new affordable housing from The Report: Dubai 2019
With forecasts suggesting that Dubai’s population will grow from 3m in 2017 to 5m by 2027, affordable housing is set to become an increasingly pressing issue in the emirate. “A lot of the supply in Dubai is mismatched, compared to where the actual demand is,” John Allen, director of valuation and advisory at Asteco, told OBG. “Traditionally, the...
Articles & Analysis | 2020 and beyond: Demographics and tourism should support medium-term growth from The Report: Dubai 2019
Dubai’s economy went through several years of expansive growth in the years following the turn of the millennium, with much of this driven by an active and rapidly expanding construction sector. Indeed, such was the pace and scale of activities at the time that a popular claim had it that the emirate was home to around 20% of the world’s cranes at...