Dubai Land Prices Up 13% – Research

Dubai Land Prices Up 13% – Research
A development under construction is seen near Dubai Media City June 26, 2012. Abu Dhabi enjoys political stability but the government can be a capricious client. Erratic payments have been compounded by the global economic downturn, which has seen even the emirate, which owns some 95 percent of the UAE’s oil, slow projects.Picture taken June 26, 2012. To match story GULF-CONSTRUCTION/ REUTERS/Jumana El Heloueh (UNITED ARAB EMIRATES – Tags: POLITICS BUSINESS CONSTRUCTION REAL ESTATE) – RTR348EH
Land prices in freehold areas of Dubai increase by 13% in the first six months of 2017, Invest-Gate reports.
Returns on land transactional activity have outperformed those on Dubai residential units by more than 50% over the last 14 years, according to data from Reidin-GCP.
Although land transactions have been “steadily rising” since 2016, prices had “only began to appreciate since the start of this year”.
“We expect land transactional activity to continue to gather momentum as the World Expo approaches [in 2020], consequently pushing prices higher,” according to the report.
“With construction activity on the upswing, land prices are expected to move higher,” the report notes.
On the other hand, property values in freehold areas are either seeing low single-digit growth, remaining flat, or dropping by 1-2%, Reidin says.

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.


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