Abu Dhabi real estate market stable despite spending slowdown

Wednesday, 14 October 2015 07:14

The Abu Dhabi real estate market remains stable, despite a slowdown in government spending, according to property services firm JLL's latest report. The general trend for Q3 and the preceding two quarters of this year has been "stability", the report says. David Dudley, International Director at JLL, says government spending largely declined due to the fall in oil prices. He tells ARN when the slow down is expected to ease.

Listen

Residential prices rose 25% in both 2013 and 2014 before flattening off, JLL says. Meanwhile, rents for apartments rose 7%, while houses went up by 3% over the last 12 months. Sales prices have remained steady over the same period. Dudley adds that demand for property continues to grow but at a slower pace, while supply is well under control as developers remain cautious.

More from Local News

H.H. Sheikh Mohammed opens DEWA's 'largest, smartest net-zero energy' HQ

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has inaugurated Dubai Electricity and Water Authority's headquarters - Al Shera’a (known as sail in Arabic) - in Al Jaddaf.
UAE President discusses boosting trade ties during talks with India's Modi

President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi have explored ways to strengthen cooperation within the framework of the Comprehensive Economic Partnership Agreement (CEPA) during talks in Abu Dhabi.
UAE brokers new round of Russia-Ukraine prisoner exchange

The UAE has successfully mediated another exchange of prisoners of war between Russia and Ukraine, involving 205 captives from each side.
H.H. Sheikh Khaled briefed on West-East oil pipeline project

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has been briefed on the West-East Pipeline oil project that is expected to double ADNOC's export capacity through Fujairah.
Dubai's RTA impounds over 9,000 cars in 2025 for illegal parking

Dubai's Roads and Transport Authority (RTA) on Friday said it impounded a total of 9,753 vehicles in the year 2025 for parking rule violations.
UAE condemns attack on Indian-flagged ship off Oman coast

The UAE has strongly condemned an attack targeting an Indian-flagged commercial ship off the coast of Oman, warning that the incident threatens international maritime security and the stability of critical shipping routes.
UAE, UK ministers discuss regional stability, bilateral ties

A high-level UAE–UK meeting in London has focused on security developments in the Middle East and the repercussions of recent Iranian missile and drone attacks targeting civilian sites in the UAE.
H.H. Sheikh Hamdan reviews operations, developments at Jebel Ali Port

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince and the UAE's Deputy Prime Minister and Defence Minister, has visited Jebel Ali Port to review operations and examine ongoing efforts to strengthen Dubai’s role as a global trade hub.
Drugs hidden inside passenger’s body seized at Abu Dhabi Airport

A drug smuggling attempt involving more than 1.4 kg of cocaine hidden inside a passenger’s body has been foiled at Abu Dhabi's Zayed International Airport.
UAE President, Montenegro PM discuss stronger bilateral cooperation

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has met with Montenegro’s Prime Minister Milojko Spajić, who is on a working visit to the UAE.
Fujairah says pipeline work triggered fire in petroleum industries area

Authorities in Fujairah have clarified that smoke seen in the Emirate's industrial area was caused by an "accidental fire" during routine pipeline maintenance work.
Yas Island announced as location for Sphere Abu Dhabi project

Abu Dhabi's Department of Culture and Tourism and Sphere Entertainment Co. have announced Yas Island as the location for Sphere Abu Dhabi.
Warning issued on dangers of sudden road stops after 1 dead, 19 injured

Dubai Police have issued a warning after a truck crashed into a bus that had broken down on Al Yalayis Street, near Sheikh Zayed bin Hamdan Bridge, leaving one dead and 19 injured.
UAE says reports of Israeli PM Netanyahu's visit 'entirely unfounded'

The UAE has denied reports circulating online claiming Israeli Prime Minister Benjamin Netanyahu visited the country or that an Israeli military delegation had been received in the Emirates.
UAE launches platform to help Emiratis choose 'right academic, career paths'

Authorities in the UAE have unveiled a platform to help Emirati students choose the right academic and career paths, by tracking global trends, analysing skills’ gaps, and finding the right programme and job opportunities.
Dubai Customs foils attempt to smuggle endangered bears through airport

Dubai Customs said on Thursday it stopped an attempt to smuggle rare endangered animals through Dubai International Airport after officers discovered concealed bears inside a passenger’s luggage.
UAE, Syria Presidents discuss cooperation and regional developments

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and his Syrian counterpart Ahmad Al Sharaa have discussed fraternal relations during a phone call.
UAE President, Qatari Emir discuss ties and regional developments

The UAE and Qatar have reaffirmed their commitment to strengthening bilateral cooperation and continuing coordination on regional issues.
UAE reinforces anti-money laundering standards in gold sector

The UAE's Minister of Economy and Tourism, Abdulla bin Touq Al Marri, has carried out an inspection tour of Dubai’s Gold Souq to review compliance with regulations in the gold sector, particularly those related to anti-money laundering and counter-terrorism financing standards.
Eid Al Adha holidays confirmed for Dubai Government entities

The Eid Al Adha holiday for Dubai Government departments and entities will begin on Monday, May 25, and continue until Friday, May 29.

News

H.H. Sheikh Mohammed opens DEWA's 'largest, smartest net-zero energy' HQ
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has inaugurated Dubai Electricity and Water Authority's headquarters - Al Shera’a (known as sail in Arabic) - in Al Jaddaf.
UAE President discusses boosting trade ties during talks with India's Modi
President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi have explored ways to strengthen cooperation within the framework of the Comprehensive Economic Partnership Agreement (CEPA) during talks in Abu Dhabi.
UAE brokers new round of Russia-Ukraine prisoner exchange
The UAE has successfully mediated another exchange of prisoners of war between Russia and Ukraine, involving 205 captives from each side.

Abu Dhabi real estate market stable despite spending slowdown

More from Local News

News

Our Shows

Quick Links

Listen on the Go

Abu Dhabi real estate market stable despite spending slowdown

Share

More from Local News

News

Our Shows

Quick Links

Listen on the Go