Browse
related articles
Abu Dhabi residential, commercial rents to fall: report
- United Arab Emirates: Thursday, April 18 - 2013 at 03:01
CBRE Group Inc. has said residential and commercial rents in Abu Dhabi are expected to drop further as homes and offices are built four years after the credit crisis roiled the country's real estate market, Bloomberg has reported. "The impact of sustained growth in overall housing stock is reflected in the continued decline of lease rates and reduced tenant loyalty amidst abundant and more affordable options," Matthew Green, the Los Angeles-based broker's head of UAE research, wrote in a report. Home rents fell about 3% on average in the first- quarter compared with the previous three months and 17,000 new homes are expected to be completed this year, according to the report. Office vacancies are set to climb from a record high of nearly 35% as concern about slower economic growth prompts companies to cut costs and halt expansion, said Green.
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
