Africa & Middle East | UAE
United Arab
Emirates
With demand still outstripping
supply in Abu Dhabi, the UAE
market offers opportunity
The United Arab Emirates property market has
established itself on the global scene as a strategic
logistical point where east meets west for both business
and leisure. Each region has something different to offer
and the seven states that make up the UAE are the some
of the most liberal in the Gulf.
The hot climate and beautiful beaches combined with
the political stability and strong economic growth has
led to the population quadrupling in the past 25 years
with expatriates comprising almost 80 per cent of the
population. Buyers from Southern Asia, CIS (Central finished homes to live in. This is putting the emphasis
There continues
Independent States) and the Middle East region have on developers to complete construction on schedule
to be many new
developments in
been very active in the UAE housing market, in addition despite rising costs.
the real estate sector
to those from Western Europe, predominantly the UK in Dubai.
and Ireland. Established on the map
Abu Dhabi has only recently allowed nationals to As buyer’s demands change, the high quantity of
own property on a freehold basis and this is reflected new supply expected to come onto the market in
in the market constantly growing in both the sales and 2009 will play a role in cooling the property prices
rental values. This trend is expected to continue as long in Dubai. However in the long term, the UAE has
as demand exceeds supply. firmly established itself on the map as an international
Until 2008 investors made up the largest proportion destination both economically and as a holiday
of buyers especially in Dubai, but in 2009 Savills destination making it likely that the demand for
expects more interest from end users who will want property will continue. n
Property Focus
Stunning new
developments in
the United Arab
Emirates
Computer generated image
Oceana, The Palm, Dubai Garden Homes, The Palm, Dubai
Contact: All apartments in this luxury development offer stunning Situated on the fronds of the world-famous Palm
David Vaughan views of the private beachfront, ‘future ready’ technology, development, Garden Homes feature a large private
+44 (0) 20 7016 3740 and privacy. pool, private beach, and a high-quality finish.
dvaughan@savills.com Price: From £850,000 Price: From £1.3 million
24 savills global residential review
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