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JP Morgan: Year end Dubai unit surplus at 31,000
- United Arab Emirates: Thursday, August 13 - 2009 at 11:27
According to a JP Morgan report, a surplus of 31,000 residential units could be recorded in Dubai mainly due to the decline in the expatriate population, while the shortage of units in Abu Dhabi will rise to 28,000 by year-end. 'In the short term, we expect the non-residential sector in the UAE to remain under pressure given the global financial crisis. However, the historical shortage of both retail and commercial space in Abu Dhabi has kept falls in leasing rates well below Dubai,' the bank has said.
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StaffThursday, August 13 - 2009 at 11:27 UAE local time (GMT+4)
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