UAE property sector stays vibrant in summer
Dubai, August 16, 2014
Property sector across the UAE remained vibrant during this summer with Dubai, in particular, witnessing impressive growth levels across different master developments, said a leading property agency.
Both Dubai and Abu Dhabi will witness a buoyant market through the last quarter of 2014 due to a range of commercial and residential property options that are available at a globally competitive price range, said Chestertons, the international property agency.
Chestertons with its Middle Eastern headquarters in Dubai offers a full range of property services, including residential and commercial sales and leasing. The company also provides professional property valuation services.
Matthew White, director, sales and leasing, Chestertons Mena said: “We have seen a rapid growth in demand for properties based in Dubai and Abu Dhabi during the last few months. There is a high level of interest from local, GCC based and international investors.
"As per reports Dubai has over 700 projects worth $123 billion in various stages of planning and construction. On the other hand, UAE has also taken measures to discourage speculative demand which is a very healthy and positive sign for the industry. As a result more end-users are now looking to capitalise on the country’s growth potential and enjoy the tax-free safe haven status,” he said.
“At the moment the supply and demand ratio in Dubai is well balanced to safeguard the increase in growth and returns. This further convinces the investors to make Dubai their home or corporate headquarters. During this summer we also received an encouraging response from international tourists who were interested in knowing more about the city’s property marketplace,” added Matthew. - TradeArabia News Service