Dubai tops in property rental yield
Dubai, March 26, 2014
The gross rental yield in Dubai stands at 6.63 per cent per annum, according to a new report.
The index of Dubai’s residential real estate rose by 13.46 per cent in 2013, against a decline of 1.8 per cent in 2011, stated the authoritative Global Property Guide statistics.
These figures testify the dramatic turnaround of the real-estate sector in Dubai in record time, according to organizers of the International Property Show (IPS) 2014 which will be held from April 8 to 10 at the Dubai International Convention and Exhibition Centre.
"The report further reveals that markets like UK, Singapore and Tokyo saw declines of 3.97 per cent, 2.88 per cent and 1.94 per cent respectively, in sharp contrast to Dubai’s impressive growth," remarked Dawood Al Shezawi, the CEO of Strategic Marketing & Exhibitions, the event organizers.
The double-digit growth in the residential index in Dubai demonstrates the growing global confidence in the emirate’s real-estate sector and its potential, he said.
A leading property show in the region supported by the Dubai Land Department, IPS has expanded by 20 per cent in the number of exhibitors over the past 5 years, stated Al Shezawi.
“The remarkable growth of IPS is an indicator of the accelerating pace of Dubai’s property sector. The 2014 edition of exhibition has generated participation of 80 countries, marking it the biggest to date since inception a decade ago,” he added.
Al Shezawi said the commercial, residential, office and retail segments represented 63 per cent of the overall exhibitors at IPS 2014.
"Exhibitors are upbeat about the growth of the local sector, especially in residential, office and retail segments. Exhibitors look at the IPS as an ideal platform to establish partnerships, expand operations, and adopt latest global practices in the contracting and construction sectors," he added.-TradeArabia News Service