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Steady rates and growth in the industrial property market that are being driven by an improved economic climate and bolstered by the success of Expo 2020 and launch of Al Maktoum airport indicate a positive outlook for the UAE industrial sector, according to Cluttons international real estate company.
Drawing on the latest industrial research of Cluttons, the UAE industrial property market is forecast to be robust with healthy growth rates in the pipeline.
Steve Morgan, Head of Cluttons Middle East, said: ?Exiting times are ahead for both Abu Dhabi and Dubai having established a stable industrial sector that is predicted to hold for the foreseeable future. Exceptional growth following the win of Expo 2020 is inevitable with a rise in demand for space surrounding the exhibition area and a general shift in developing infrastructure towards the south of Dubai, as many logistics and distribution companies seek to establish an early presence.?
Expo 2020 is also set to play an integral role in the well-developed infrastructure and rapid growth of the aviation industry that is hugely beneficial for the industrial sector.
Not only is Dubai International Airport holding the title for the second busiest airport by passenger traffic with aggressive expansion plans, but also the launch of Al Maktoum International Airport has increased the attraction of industrial areas close to the airport, positioning itself as an integrated logistics platform.