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Jones Lang LaSalle has recently released its latest Abu Dhabi City Profile which recognises that Abu Dhabi’s real estate markets is entering a new phase marked by enhanced supply quality and increasingly value-conscious demand, which will reward well-built and well maintained stock. Meanwhile, improved affordability will encourage business and employment growth. In the short term, oversupply will expand as major projects, launched during the boom period, approach completion. Although this is compounded by a short term demand lull, the resulting rise in vacancy and corresponding rent declines will improve Abu Dhabi’s competitiveness, create a tenant favourable market, and stimulate leasing activity from quality conscious occupiers upgrading to new facilities. On-going government investment in strategic infrastructure projects and economic diversification will drive forward Abu Dhabi’s emergence as an important regional and global hub.
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17 April 2011