In 2008, for the first time in history, more than half of humanity was living in urban areas. Perhaps the most remarkable observation about this trend is the speed at which it has happened: as recently as 1900 urban areas accounted for 13% of the global population. Towns and cities are seen as the crucibles of opportunity for many rural...
As the global economy becomes increasingly digitised, the Dubai Land Department (DLD) and its legal arm, the Real Estate Regulatory Agency (RERA), have aimed to stay ahead of the curve. In May 2018 they announced that they had begun developing the Real Estate Self Transaction (REST) platform, an online portal that will enable all aspects of...
Even as a years-long softening in the rental and sales prices of Dubai’s real estate continued in 2018, industry experts agree that any further market corrections from the highs of 2014 that have not yet played out will not extend beyond 2020. Moreover, amid the decline in average property prices, the sector has grown considerably both in...
The performance of Dubai’s industrial real estate was mixed in 2017. Even as achieved rents for grade-B stock fell significantly in 2017 and the first quarter of 2018, achieved rents of grade-A stock in Jebel Ali Free Zone and Dubai Investments Park grew by 16.7% and 6.7%, respectively, according to the latest issue of Knight Frank’s “UAE...
With forecasts suggesting that Dubai’s population will grow from 3m in 2017 to 5m by 2027, affordable housing is set to become an increasingly pressing issue in the emirate. “A lot of the supply in Dubai is mismatched, compared to where the actual demand is,” John Allen, director of valuation and advisory at Asteco, told OBG. “Traditionally,...
Dubai’s economy went through several years of expansive growth in the years following the turn of the millennium, with much of this driven by an active and rapidly expanding construction sector. Indeed, such was the pace and scale of activities at the time that a popular claim had it that the emirate was home to around 20% of the world’s...
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