UAE Property News

The short-term outlook for both residential and commercial properties across Dubai is likely to remain "slow moving" with a modest recovery in fortunes next year, says a new report.
"We anticipate a continuation of rising vacancy ratios. However, this will be project-specific and largely dependent on the location, quality and amenities offered by each development," said CB Richard Ellis (CBRE) in its third quarter market view report.

"We have already witnessed a notable rise in tenant movements to either larger apartments, which were previously too expensive, or to the lower end of the market where terms are more flexible and rates lower, due to continued fear of job security," said Matthew Green, Associate Director, CBRE, Middle East, in the report.