Real Estate & Construction

The real estate sector in Abu Dhabi is currently in a period of growth and rising prices, following the global financial crisis that began in 2008. As of the third quarter of 2014, all segments of the market were in simultaneous recovery for the first time since the downturn. The government is set to continue promoting market stability, maintaining its high level of involvement in real estate investment development while growing demand, coupled with tight supply in some areas, suggests that overall prices will continue to rise across most market segments in 2015. Meanwhile the emirate’s construction industry appears to be entering a period of renewed growth, with the total value of construction projects under way or in the pipeline standing at $727bn as of April 2014, making the UAE the second-largest construction market in the GCC.

This chapter contains interviews with Saeed Al Ghafli, Chairman, Department of Municipal Affairs; and Mohammed Al Mubarak, CEO, Aldar.