All sectors of the Dubai real estate market are positioned in the recovery stage of their market cycle for the first time since 2008, according to Jones Lang LaSalle’s Q1 2013 market report
- The real estate investment market has been very active in the first quarter of 2013, with a growing number of residential transactions closing
- Increased interest in the commercial sector with rents for prime office space starting to recover with the “flight to quality” remaining a key trend
- The retail market continues to be dominated by the best performing super-regional malls
- The hotel sector maintained its strong performance
- The industrial sector is moving more towards newer areas, such as Dubai Industrial City, Dubai Investment Park and JAFZA which offer better quality products
Jones Lang LaSalle, the world’s leading real estate investment and advisory firm has today announced its ‘2013 Top Trends for UAE Real Estate’. Being published for the sixth consecutive year, this keynote research assesses and forecasts the major trends which could impact and shape the UAE real estate sector over the next twelve months. Read more
Jones Lang LaSalle, the world’s leading real estate investment and advisory firm, has released its fourth quarter (Q4) 2012 Dubai Real Estate Overview report. In summary, it concludes that the Dubai real estate market is witnessing a selective recovery as optimism has returned over the second half of 2012. Read more
The latest ‘Dubai Real Estate Market Overview – Q2 2012′ was released today by Jones Lang LaSalle. The report covers the Dubai office, residential, retail and hospitality market segments. Read more
Al Nowais Group and Jones Lang LaSalle MENA launch JLL Auctions
Joint Venture Partnership will create first industrial auctioneers acting under a private license within the Emirate of Abu Dhabi
Partners confident that the business will be the largest auction house in the region within five years, focussed across a number of core sectors
Jones Lang LaSalle, the world’s leading real estate investment and advisory firm, and the Al Nowais Group, one of the largest, most respected professional family businesses operating in the UAE, have today announced the launch of JLL Auctions , a Joint Venture Partnership owned and operated equally by both companies.
Headed by Patrick Ditcham, who has 25 years international valuation and auctioneering experience, the new business will be the first industrial auctioneers acting under a private license within the Emirate of Abu Dhabi with the ability to cover all sectors across the UAE and the broader GCC. Read more
Regional investors account for 9% of total Jones Lang LaSalle London new property development sales in 2011
Property valued at US$ 180 million sold, up from 5% in 2010
The Central London residential market is becoming increasingly attractive to Middle East property investors according to the latest Central London Residential Market report published by Jones Lang LaSalle, the world’s leading real estate investment and advisory firm. In 2011 the firm sold London new build residential property to foreign buyers valued at circa US$ 2 billion of which regional investors accounted for about 9%, up from 5% in 2010. The Middle East now accounts for the second largest group of foreign investors into the London residential market after nationals from the Asia Pacific region who accounted for 15% of overall property sales. Read more
Alan Robertson, CEO, Jones Lang LaSalle MENA said: “2011 was a difficult year for real estate investors with most sectors of the market moving in the favour of tenants, with lower prices and rentals. While these trends appear likely to continue into 2012, the main trend for this year is likely to be an increasing polarisation within each sector of the market. As the performance of the best quality projects will improve, average prices are expected to decline further in 2012 within this increasingly two tier market. Read more
Jones Lang LaSalle, the world’s leading real estate investment and advisory firm, today released its latest ‘Abu Dhabi Real Estate Market Overview – Q3 2011’ covering the office, residential, retail and hospitality sectors.
The Q3 report shows that despite handover delays with some projects, higher completion levels are now filtering through and are providing more options for tenants in both the office and residential sectors of the market. Read more
A new assessment tool that helps global property managers understand at a glance their properties’ investment potential for renewable energy technology has been co-developed by Jones Lang LaSalle and low carbon consultancy Encraft.
The tool, called RESPRO, will enable Jones Lang LaSalle to advise clients at the touch of a button on the potential impact on their property portfolio from installing renewable energy solutions at their sites. Read more
The hotel sector continues to be the best performing of the Dubai real estate market as increasing tourist arrivals lead to higher occupancy and RevPAR levels (revenue per available room), according to Jones Lang LaSalle’s latest report ‘Dubai City Profile – September 2011’.
While the hotel sector has been the major beneficiary of the Arab Spring, the retail and residential sectors have also received a positive boost over the past 9 months. The regional upheaval has re-enforced Dubai’s position as a global destination with many tourists rescheduling their holidays to the UAE due to volatility elsewhere in the region. Dubai Airport is now the fourth busiest in the world, reporting a year-on-year growth in arrivals of 9.5%, equating to around 12 million visitors in the first half of 2011. Tourism was particularly strong in July, with Dubai hotels achieving an average occupancy rate of 78% – a significant improvement on the 60% recorded in July 2009. This was driven by a major increase in the number of GCC nationals visiting Dubai, up 80% compared to the same period last year. Read more