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The UAE real estate sector’s strong Q3 performance this year could spell a sustained uptrend through 2014 and even beyond, with the Abu Dhabi and Dubai markets benefitting from industry growth, liquidity, and return on investments.
A detailed market intelligence report for the period issued by Tasweek Real Estate Development and Marketing showed a spike in residential rates in Abu Dhabi – the first since the 2008 market downturn. Dubai, on the other hand, saw its land and property sales soar 67% over the same period in 2012. Reports from Fitch Ratings and Standard Chartered support Tasweek CEO Masood Al Awar’s prediction early this year that Dubai’s prime property sector in particular would enjoy favorable market conditions through 2014.