UAE real estate rides on growing confidence, consolidation and transparency to energize market

The UAE’s real estate sector is enjoying a steady uptrend in the first few months of 2013 market characterized by more consistency and consolidation within the primary markets of Dubai and Abu Dhabi, according to Masood Al Awar, CEO of Tasweek Real Estate Marketing and Development which released its latest market intelligence report recently.

Tasweek predicts a sustained rebound within the next months driven by rising confidence in the Dubai market and strong market fundamentals in Abu Dhabi.

More responsive legislation and robust real estate laws are also expected to quell local fluctuations on services and returns across industry. Al Awar notes that there are some concerns that must be addressed in order to sustain organic growth, such as affordable housing and varying financing options for real estate customers.

Abu Dhabi

The past year saw a fluctuating 5 to 12% slide in Abu Dhabi rents due to the entrance of new units all over the emirate. Major initiatives such as new regulations on housing allowances for government employees, the announcement of key government-backed projects and an Dhs330bn local stimulus package are expected to accelerate demand and market growth in Abu Dhabi for 2013, though.

via UAE real estate rides on growing confidence, consolidation and transparency to energize market | Tasweek | AMEinfo.com.

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