Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Abu Dhabi housing shortfall set to climb  Join our daily free Newsletter

MENAFN - Khaleej Times - 08/05/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Khaleej Times) The emirate is facing a rise in demand for housing by six per cent year-on-year with an additional demand of 15208 units in 2014 according to colliers.

abu dhabi’s housing shortfall would escalate to 51000 units by the end of this year a report said.

at the end of 2013 the fast expanding emirate saw total housing stock reaching 232000 units says colliers international a leading property advisory firm.

colliers’ report showed that abu dhabi’s demand for housing would reach 360000 units in 2018. — kt file photo

according to a report from another property advisory firm jll residential stock increased by around 1700 units in the first quarter of the year bringing the total stock to around 238000 units.

however an estimated 9000 housing units are expected to enter the market this year to reach total housing supply to 241000 against a demand of 290000 housing units says colliers international.

the emirate is facing a rise in demand for housing by six per cent year-on-year with an additional demand of 15208 units in 2014 according to colliers.

it estimates that abu dhabi’s demand for housing would reach 360000 units in 2018 growing at three per cent cumulative annual growth rate as growth in economy will pick up and population increase would continue growing at 5.5 per cent annually.

it also estimates that office employees would rise five per cent year-on-year.

the property advisory firm estimated a shortfall of 119000 housing units in 2018 as the demand is expected to reach 360000 units.

abu dhabi’s real estate market is to experience a strong dand over the short to medium term as the economic and population growth continues.

colliers estimates 44000 units to enter the residential supply in the coming five years.

the removal of the rent cap in abu dhabi is likely to further contribute to an upward trend in rentals making it more lucrative investment in terms of returns.

foreign ownership of residential units are currently limited to high-end waterfront developments with the exception of al reef and hydra. this limitation in abu dhabi’s residential market creates an opportunity for developing affordable housing within the emirate.

rents grew 12 per cent year-on-year in 2014. in the fourth quarter of last year rental values went up by nine per cent. the area which witnessed high growth in rents includes the localities of al raha al reem island and corniche.

in terms of sales prices a growth of nine per cent has been reported.

in order to meet the rising demand for housing just before the cityscape abu dhabi 2014 aldar properties launched three new housing projects in and around abu dhabi with sales value estimated at dh5 billion.

it offered registration at the property show three projects of which two will be located in the investment zones of al raha beech and ansam on yas island while the third one will comprise of residential plots on nareel island located five minutes away from emirates palace is exclusively for the uae nationals.

a total of 1000 units would be added in two years though all in posh segment.

according to colliers survey 40 per cent of the cumulative supply targets the high-end market.

— haseeb?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Dec 8 2016 - Kuwait- Why not follow the example of CastroArab Times
(MENAFN - Arab Times) Ali Ahmed Al-Baghli Former Minister of Oil FIDEL CASTRO, the man who ruled Cuba for half a century, died at the age of 90. The Island of Cuba declared 10 days mourning ...

 Dec 8 2016 -  Waka, Waka ... this time for AfricaKhaleej Times
(MENAFN - Khaleej Times) It was not 'Haka' but the 'Waka, 'Waka that blared on the sound system at The Sevens. And a little later, songstress Tina Turner, the 77-year old R & B, pop, soul, dance and ...

 Dec 8 2016 - UAE- Rendezvous with Emirati champion racersKhaleej Times
(MENAFN - Khaleej Times) With karting blood in their genes, and an early start to the sport, the Daman Speed Academy champion racers Amna and Hamda Al Qubaisi have taken the junior karting world by ...

 Dec 8 2016 - No school trips to hills, beaches in UAEKhaleej Times
(MENAFN - Khaleej Times) Following complaints from parents, the Ministry of Education (MoE) has banned private schools across the country from taking students on trips to beaches, mountains, water ...

 Dec 8 2016 - UAE- HIPA to host 'Soorah Challenge' photo competition for children at Meet d3Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 8th December, 2016 (WAM) -- The Hamdan bin Mohammed bin Rashid Al Maktoum International Photography Award, HIPA, is set to host a photography ...

 Dec 8 2016 - Islamic Development Bank lists US$1.25 billion Sukuk on Nasdaq DubaiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 8th December, 2016 (WAM) -- The Islamic Development Bank, IDB, listed a US$1.25 billion Sukuk today on Nasdaq Dubai, the region's international ...

 Dec 8 2016 - Dinner in Dubai from 150ft off the ground? Go hereKhaleej Times
(MENAFN - Khaleej Times) Soon enough, you'll be able to enjoy a hearty meal, freshly made - reminiscent of home cooking from up to 50 metres high, suspended in the sky. Yes, there's no problem with ...

 Dec 8 2016 - Abu Dhabi Aviation and CAE expand commercial and business aviation training agreementEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 8th December, 2016 (WAM) -- Abu Dhabi Aviation, ADA, and CAE Inc., a Canadian company specialising in training for civil aviation, defence and ...

 Dec 8 2016 - UAE- Commander-in-Chief of Ajman Police and Consul-General of Azerbaijan discuss cooperationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN, 8th December, 2016 (WAM) -- Brigadier Sheikh Sultan Abdullah Al Nuaimi, Commander-in-Chief of Ajman Police, and Parviz Ismayilzada, Consul-General of ...

 Dec 8 2016 - Arab Thought Foundation to hold FIKR15 conference in Abu DhabiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 8th December, 2016 (WAM) -- Under the patronage of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and in collaboration with the Arab ...

more...


 





Google

PayExpo_MENA
 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help