With real estate a key source of foreign investment, Abu Dhabi’s government has been gradually easing restrictions on foreign ownership to sustain market growth. This imperative has taken on added importance since the drop in global oil prices beginning in late 2014, leading to new public and private initiatives to draw in further overseas...
Activity in Abu Dhabi’s construction sector contracted for the second year in a row in 2017 as the effects of the oil price drop beginning in 2014 were reflected in a narrower project pipeline. With major transport and energy projects approaching completion, the period of reduced investment across the wider UAE could continue to present...
Although it has become a strong contributor to economic diversification, Abu Dhabi’s real estate sector is being put under pressure by slower growth, brought on by low global oil prices that started in 2014. Spending cuts since 2015 have been reflected in capital value, with rental rates declining to their lowest levels since 2013. However, the slowdown has masked encouraging developments in...
Abu Dhabi is the largest of the seven emirates that comprise the UAE, in terms of both its land mass and economy, and home to the majority of the country’s energy production and reserves. While the emirate is home to the world’s sixth-largest proven oil reserves, financial buffers have helped it diversify and yield steady non-oil revenues.
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...
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...
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