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Jones Lang LaSalle, the world's leading real estate investment and advisory firm has today released its ‘Top Trends for 2011’ shaping UAE real estate in the coming year and beyond.
Craig Plumb, Head of Research, Jones Lang LaSalle MENA said: “The UAE is a continuously evolving and maturing real estate market. It is increasingly reverting to its core strengths such as services, trade, tourism, transport and logistics. In terms of capital values and rental trends, we continue to observe the unfolding of two tier markets across different sectors. Good quality product remains attractive particularly in the logistics and residential markets. With continued commitment to developing infrastructure, the UAE will remain attractive to investors around the region.”
The key predictions are:
Jesse Downs, Director of Management Consulting at Jones Lang LaSalle MENA concluded: “Within the Abu Dhabi and Dubai property markets, development and management trends as well as the overall supply and demand dynamics are driving bifurcation of prices based on asset quality.”
“Greater integration between the emirates will lead to economic stability, job growth and ultimately benefit real estate markets across the UAE. While the industry generally remains on the road to recovery, new demand drivers such as the improvement of transportation connectivity and infrastructure projects will substantially increase the attractiveness of the UAE.”
She concluded: “This is compounded by the regional political situation elsewhere within the MENA region where real estate markets are currently facing challenges. The UAE’s relative stability demonstrates its strong long term fundamentals and has consequently solidified its role as a strategic regional hub.”
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