Abu Dhabi and Dubai expects 41 thousand new housing units in 2012 says Moussalli, Regional Director of the Department of dealings in the John Lang LaSalle Global.
3 thousand new units to be added in Dubai, whereas 18 thousand units in Abu Dhabi
Moussalli said on the launch of its annual "Best real estate trends in the UAE," that the number of units that have entered the market last year reached 13 thousand in Dubai, and 10 thousand units in Abu Dhabi.
According to the report the average ROI on new properties to individual investors is between 7% - 9% and corporate investors get 9% - 11%.
Report also emphasize that the opportunity is now available for the real estate investor to achieve a greater return on investment as compared to the period before the global financial crisis as a result of depreciation.
He said that the volume of retail space added to the market in 2011 is about 235 thousand square meters, of which about 162 thousand meters in Abu Dhabi, and about 73 thousand square meters in Dubai. Moreover this year about 175 thousand square meters in Abu Dhabi will be added, compared to about 6 thousand square meters in Dubai during the same period.
The report stressed that the UAE market will move to provide more options for tenants and residents during the current year through the availability of significant levels of the flow of supplies in many sectors. So as to increase competition which will lead to a wider range of options for tenants and residents this year.
The overall report clearly show signs of improvement in the Real Estate sector in the UAE and provides more opportunities for the investors (both individual and corporate) to invest in the UAE Real Estate market. The report also shows that Abu Dhabi is leading the race of property development in the UAE and attracting more investors due to stable and strong real estate and economic conditions.
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