Fast Market Research recommends "United Arab Emirates Real Estate Report Q2 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 06/05/2013 -- The UAE Real Estate report examines the commercial office, retail, industrial and construction segments in the context of an increasingly positive macroeconomic climate, which may well see the tide turning on a market that has spent the last few years suffering from over-supply and the legacy of the property bubble.
With a focus on the three principal emirates of Dubai, Abu Dhabi and Sharjah, the report covers market performance in terms of rental rates and yields. It also examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of the government-led growth on a market already characterised by oversupply and historically low rates. The key potential growth areas driven by increasing activity on the part of international investors and the potential of the domestic consumer market are also explored, with corporate growth strategies looking to the emirates for expansionary opportunities.
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Nevertheless, Saudi Arabia's various real estate sectors are developing in different directions and at varying rates. The commercial market in general suffers from oversupply and is forecast to undergo limited growth in the short term; however, BMI believes the market reached its nadir in 2012 and that positive sentiment growing around the sector (as evidenced by our data) will see its first few shoots rise above the surface, providing positive economic fundamentals remain on course. The troubles in the office sector will be the hardest to shake.
- Deleveraging will remain a prominent theme well into 2013, as corporates continue to focus on repairing their balance sheets. This will limit activity in the non-hydrocarbon economy.
- Abu Dhabi will outperform Dubai over the coming years, given its large-scale investment plans targeting the infrastructure sector and ongoing concerns surrounding Dubai's lingering debt repayment schedule. A further tightening in international sanctions on Iran bodes poorly for Dubai's outlook, given its trade linkages with the Islamic Republic.
- Our 2013 construction real growth forecast of 4.5% is reinforced by the 2011 numbers coming in right on the dot and the 2012 data being on track. Furthermore, an improved business environment, increased foreign investment and an upswing in property prices support our cautiously positive long-term outlook, with annual average growth of 5.3% anticipated between 2013 and 2022. However, we continue to highlight the risks of a too early, too optimistic forecast on the back of misguiding base effects, significant oversupply and a return, rather of Dubai's large expat community that sustains a lot of the demand for residential and non-residential.
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