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...
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...
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 cranes at the height of the boom in 2006. Even though...
Near-term sentiment is on the rise among Dubai’s business leaders, with the IMF forecasting a healthy GDP growth rate of 4.2% in 2019 for the emirate. While not as exposed as some of its regional neighbours to the effects of fluctuating commodities prices in recent times, Dubai nevertheless stands to benefit from the knock-on effects of higher prices over the last year.
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