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JLL, the world's leading real estate investment and advisory firm, today has released its first quarter (Q1 2014) Abu Dhabi Real Estate Overview report at Cityscape Abu Dhabi.
The Abu Dhabi real estate market turned continued to show signs of growth and recovery during Q1 2014. This optimism remains focussed on the prime residential sector which witnessed increased rents and prices and near to full occupancy for high quality product. The retail segment continues to experience growth, while the hotel and office sectors remain stabilised.
Abu Dhabi Market Overview, Q1 2014:
David Dudley, Head of
Abu Dhabi office at JLL MENA said:
"It is encouraging to see further signs of growth and recovery. The general theme is selective recovery – with different sectors at a different stage of recovery, and the residential sector leading the way. A two tier market exists with a significant divergence between high and low quality product (in terms of quality of location, design, functionality, asset management etc). Sustained market recovery is very much dependent on continued government investment in to infrastructure and economic development to boost demand."
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