What role do you see for NMDC and the wider dredging industry in supporting Abu Dhabi’s economic development?
UAE: Abu Dhabi Real Estate
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Economic update | Affordable off-plan developments offer potential amid a downturn in the wider residential market in Abu Dhabi
26 Mar 2018
Off-plan projects that offer residential buyers attractive incentives and greater affordability could help offset muted demand in Abu Dhabi’s broader real estate market this year, which is still recovering from a slowdown in economic growth in 2017.
The prolonged dip in oil prices and associated government spending cutbacks have continued to weigh on real estate markets, though Abu Dhabi has remained resilient entering 2017.
Wide-ranging reforms aimed at regulating Abu Dhabi’s real estate sector and encouraging best practices look set to lift investor sentiment despite the challenging regional economic climate.
The residential property market in Abu Dhabi is defying the broader trend of declining prices in the UAE, as steady demand and a limited supply of new units drives up rental costs.
Competition is set to heat up for high-end retail space in Abu Dhabi in the coming years as an expanding and affluent population, solid economic growth and increasing tourism drive retail activity.