Dubai realty market on strong recovery path, albeit at slow pace

After four years of having faced the impact of worst ever global economic crisis in September 2008, which led to halting of most of the development activities, the real estate market in the UAE is now showing signs of recovery.

With support of structured cash injection, careful re-engineering of major development companies, and re-scheduling of projects and debts, the sector is likely to rebound, although at a slow pace, experts said.

According to the latest report by Jones Lang LaSalle (JLL), leading real estate consultant, the overall residential market indicates a positive trend, with villa market continuing to outperform the apartment sector during the second quarter of 2012.

The real estate sector has begun to show signs of improved investor confidence with increase in demand for quality properties in ideal locations, and income producing assets. Such prime residential buildings in established locations are seeing improved performance, although secondary locations are suffering from rental and pricing declines.

via Dubai realty market on strong recovery path, albeit at slow pace.

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