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According to JLL MENA’s Q1 2013 market report
JLL MENA, the world's leading
real estate investment and
advisory firm, has released its
first quarter (Q1) 2013 Abu Dhabi Market Overview report covering the office, residential, retail and hospitality market segments, highlighting that selective sub-markets are heading back in to recovery.
Commenting further on the report,
David Dudley said:
“While it is encouraging to see the market moving upwards again, it is important to note that these improvements do not represent a market-wide recovery, but relate to selected high quality developments – with performance continuing to diverge between high grade and low grade product. However, this is certainly positive news for the market, indicating the first signs of recovery and a maturing market.
Craig Plumb, Head of
Research for JLL MENA in MENA, further added:
“Abu Dhabi may not see a full recovery in 2013 but the government is taking the right steps for a sustainable recovery. Recent capital injections into infrastructure will boost the demand for real estate in the longer term, as will requirements for government employees to live in the Emirate. However, given the high levels of current supply, the market is likely to remain tenant favourable throughout 2013.
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