Dubai?s real estate prices surged 30% last year

The UAE?s construction industry is in the midst of resurgence. Dubai?s real estate prices surged more than 30% last year? with further growth expected to come ? according to a recent report by global real estate firm Jones Lang LaSalle (JLL).

The global financial services group Citi assessesthe property boom in the country to be much more sustainable and less susceptible to external financial shocks, unlike 2008.

The UAE?s GDP is projected to increase by up to 5% in 2014, while growth will be buoyed in coming years by events such as the World Expo 2020 in Dubai ?it is little surprise that Building Design Magazine, the industry-leading UK publication, emphasises ?Dubai?s re-emergence into the global spotlight? this year. That builds upon an almost 4% rise in GDP across the country last year.

Dewan Architects and Engineers has been recognised for the fifth consecutive year as one of the world?s top architectural firms inBuilding Design?s 2014 World Architecture 100 rankings ? an annual barometer of excellence in the industry.

Notably, as ?the UAE?s burgeoning construction industry is targeted by firms around the globe,? as BD puts it, Dewan is in prime position to take advantage. It was the only company based in the UAE to be recognised in the rankings,described as ?the definitive survey in its field?. Dewan attained the second highest ranking of any firm based in the Middle East, as well as coming in atjoint No. 50 globally.

via Dubai?s real estate prices surged 30% last year |.

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