The real estate sector in Abu Dhabi is currently in a period of growth and rising prices, after a downturn following the global financial crisis that began in 2008. According to a real estate market overview for the emirate by Jones Lang LaSalle (JLL), the third quarter of 2014 saw all segments simultaneously in recovery for the first time since 2008. The firm reported...
Known as Musanada (meaning “support” or “assistance”), the Abu Dhabi General Services Company is charged with providing assistance and support services for all government departments, agencies and entities, as decided by the Abu Dhabi Executive Council. Established in 2007 to provide a variety of support services, including procurement, to Abu Dhabi government entities,...
The residential segment was the first in Abu Dhabi’s real estate market to experience recovery from the sustained post-2008 downturn. Prices in the segment have been rising since the end of 2012, when, according to Jones Lang LaSalle (JLL) data, asking prices for residential units in investment zones (areas where expatriates are allowed to buy apartments) in the emirate...
The engineering, procurement and construction (EPC) segment in Abu Dhabi is dominated by oil and gas. The largest EPC project currently under way in the emirate is the development of the offshore Upper Zakum oilfield, which was awarded to Petrofac Emirates – a joint venture between Petrofac and Abu Dhabi government investment firm Mubadala Development Company – and its...
As of April 2014, the total value of construction projects under way or in the pipeline in the UAE stood at $727bn, according to estimates from the Middle East Economic Digest (MEED), making the country the second-largest construction market in the GCC. Some 36% of this amount was made up of mixed-use developments, followed by...
Demand for prime residential properties rose in the first half of 2013, as government employees prepared to comply with a new rule requiring that they live within the emirate to qualify for the government housing allowance. Announced in 2012 and effective as of September 2013, the rule applies to Abu Dhabi’s 23,000 government employees, of which...
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