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JLL, the world's leading real estate investment and advisory firm, has released its fourth quarter (Q4 2014) Dubai Real Estate Market Overview report, which provides the consultancy's perspective on the latest trends in the office, residential, retail and hotel sectors.
Commenting on the report, Craig Plumb, Head of Research at JLL MENA, said:
"Dubai's real estate sector ended the year on a quiet note as nearly all segments of the market witnessed subdued growth levels in Q4. Average prices and rentals in the residential sector appear to have stabilized over recent months, with some locations registering marginal declines.
While cheaper oil prices are likely to dampen investment sentiment in the short term, Dubai's success at diversifying its economy and expanding its global reach makes it less vulnerable to oil price fluctuations. With the government's 2015 budget announcement, which saw planned spending and revenues increase 9% and 11% respectively, the next 12 months are expected to see a boost in business activity. We will unveil our 2015 market forecast at our Annual Top Trends event next week."
Sector summary highlights, Dubai Market Overview, Q4 2014:
Dubai prime rental clock
This diagram illustrates where JLL estimate each prime market is within its individual rental cycle as at the end of the relevant quarter.
Head of Research, MENA
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