Abu Dhabi real estate market booming

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UAE’s capital is increasingly looking attractive to market investors as residential and housing unit rentals grew by abudhabialmost 15 percent just for the first quarter of 2014.

Global real estate services adviser CBRE announced that residential rentals have grown by 10 percent and housing unit rentals have risen to 14 percent.

An official from Abu Dhabi Finance said on Saturday that changing regulation, removal of rental price caps, and demand outweighing supply are all responsible for the upswing in the property market. He also added that the organization is now benefitting from the boost in Abu Dhabi’s real estate economy.

It was pointed out that although there is rapid increase in big construction, industrial projects and infrastructure in the nation’s capital as part of the Abu Dhabi Vision 2030, it is still important to stabilize them at a sensible level to avoid a surge in short-term speculation and unhealthy levels of inflation.

Abu Dhabi Finance and four other banks will be taking advantage of the attractive market and will be offering property advice and competitive mortgage rates at CityScape Abu Dhabi 2014 which will be held at the Abu Dhabi National Exhibition Centre (Adnec) from April 22-24.

 

Mohamed Dekkak