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JLL, the world's leading real estate investment and advisory firm, has developed a new web-based data comparison tool in response to its client's needs for more comparison of key market data between major real estate markets in the MENA region. This tool allows both investor and occupier clients to make quick comparisons of rental, price and supply data across four different asset classes (office, retail, residential, hotels) for the five cities in the region where JLL has offices (Dubai, Abu Dhabi, Riyadh, Jeddah and Cairo).
Craig Plumb, Head of Research for JLL MENA, stated, "Sale prices have generally increased by more than rentals in the residential market over the past year. The strongest growth in prices over the year to Q3 was in Dubai, where average villa prices increased by 34% in this period. However, the Dubai market is now close to its cyclical peak and the rate of growth in prices has shown a welcome levelling off in recent months. While prices increased in all markets monitored by JLL, average rentals actually declined in some markets such as villas in Jeddah and Cairo."
With an increasing number of our investor and occupier clients looking for opportunities across the region, JLL has developed a simple comparative tool that allows clients to quickly compare markets on a number of key real estate indicators such as price, rental and supply. While recognising that this data is aggregated across the market and does not therefore remove the need for more detailed analysis and due diligence of particular assets, this new tool provides a useful high level indicator of comparative market performance.
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Head of Research, MENA
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Senior Marketing & PR Manager, MENA