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Dubai’s real estate sector ended the year on a quiet note as nearly all segments of the market witnessed subdued growth levels in Q4. Average prices and rentals in the residential sector appear to have stabilized over recent months, with some locations registering marginal declines. Growth in the retail and hospitality market was restrained following a period of uncertainty due to oil price fluctuations and a decline in tourist and resident purchasing powers. Meanwhile, the office market continues to be situated close to the bottom of the cycle with rental growth restricted to Grade A office space.
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18 January 2015