The increase in affordable housing in Dubai is having a negative effect on rents in the Northern Emirates, according to the latest report from real estate consultancy Asteco.
The average rent levels declined marginally during Q4 2016 in
The residential sector in the Northern Emirates remained flat in the first quarter with a marginal decline in the rental rates being registered at Sharjah and Fujairah, said a report.
The residential sector in the Northern Emirate
The residential leasing market in 2015 across the Northern Emirates, with the exception of Fujairah, saw rental rates fall marginally, with Sharjah, Ajman and Ras Al Khaimah contributing to the decline, said a report.
The UAE’s Ministry of Public Works is studying a proposal to lay a new road parallel to the Emirates Road, connecting the Northern Emirates to Abu Dhabi and Dubai, said a report.
The ministry is also planning to build a brid
The rental rates in the residential sector across the Northern Emirates remained relatively stable in the third quarter, but the office sector recorded minimal changes for the period, according to leading consultancy PKF.
UAE-based Emirates Catering Services plans to invest over Dh1 million ($272,245) in setting up of a new central kitchen facilities to help address the increased demand for its services from the Northern Emirates.
The new central k
Sharjah’s rent rates have increased seven per cent on average this quarter as Dubai residents look to relocate to more affordable accommodation, said a report.
The Q1 2014 Northern Emirates report from As
Khalifa Fund for Enterprise Development and Emirates Foundation for Youth Development signed a MoU for co-operation in social development section and to implement initiatives with social impact.
“This aims to create a framew
Sharjah’s residential rental market is on the ascendant, with the emirate recording steady rental rate growth over the last 12 months with an average rise of 16 per cent and fueling a reverse relocation trend, a report said.
Apartment rents across northern UAE, which fell last year owing with problems with connection to electricity and water, are now picking up as utility connections improved for residential buildings, according to a report.