JLL to unveil major reports at Cityscape
Dubai, October 2, 2013
Jones Lang LaSalle, a leading real estate investment and advisory firm, is set to unveil three major reports highlighting regional investment trends and the Dubai real estate market.
The reports – eighth annual Real Estate Investor Sentiment Survey (REISS 2013), the latest Dubai Quarterly Real Estate Report (Q3 2013) and a London residential report – will be launched at the Cityscape Global event to be held in Dubai next week.
The findings of the REISS 2013, which will be published on October 8, reveals that there are more potential investors than sellers in Dubai, with significant weight of money continuing to search for a home in the domestic market.
Improving fundamentals and the weight of investor interest has also resulted in yields declining in most sectors of the Dubai market with potential buyers willing to pay higher prices, it said. The report also shows that regional investors remain active on the global real estate stage.
Alan Robertson, CEO of JLL Mena, said: “Many of the new project announcements are as ambitious as ever but we are seeing a more mature and considered approach which will benefit the long term health and credibility of the real estate sector among domestic and international investors. There have been a number of new regulations announced and developers are increasingly recognising that the key to the success of individual projects is a realistic phasing strategy in line with market demand.”
The London residential report, which will be published on October 10, shows that the city remains a major target for Arab investors, purchasing a combined total of $2.5 billion worth property in the first half of the year.
Craig Plumb, head of research in the Mena region, said: “There is now strong statistical evidence to illustrate consolidated growth in Dubai’s real estate market. We can see a number of emerging trends which we will be announcing at Cityscape. There is some concern about the return of a bubble but we remain cautiously optimistic that the sector has learnt from past lessons.”
“We are also confident that there are now enough mechanisms in place to manage the inevitable interest that Dubai continues to attract from a broad range of investors who continue to see opportunity and growth both now and into the future,” he added. - TradeArabia News Service
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