By Andy Sambidge
New report says Dubai, Abu Dhabi markets to offer 'robust growth potential' in coming months
Real estate investors in the UAE are predicted to see returns of between 9-12 percent per year as the market continues to grow, according to a new report.
A study by TASWEEK Real Estate Development and Marketing said the market offers "robust growth potential in the coming months for the investor community".
It added that the UAE real estate market "will serve as a major magnet for local and international investors".
The study also revealed that the contribution of the UAE real estate sector to the country's GDP will touch AED111.4bn by the end of 2013, which is expected to further surge to AED118bn by the end of 2014.
The sector's contribution to GDP was AED 108.2bn in 2012 and AED99bn in 2009, the report said.
Masood Al Awar, CEO of TASWEEK, said: "The UAE real estate fundamentals is set for a steady uptrend in the next few months, driving the overall optimism and growth potential on offer, thanks to the consistency and consolidation witnessed in the primary markets of Dubai and Abu Dhabi.
"We have strong market intelligence to suggest a major spurt in the growth with increased investor activity across a wide spectrum of real estate projects - from residential to commercial in both Abu Dhabi and Dubai. These residential projects will increase the amount of spending which will stimulate job creation."
He added: "The prospects are good for the UAE's endured property market rally - Abu Dhabi's up-tempo market and Dubai's return as a preferred global real estate hub provide sufficient boosts to maintain momentum through next year."
In Dubai, TASWEEK said the successful bid to host Expo 2020 will have a "good payoff" in terms of return on investment.
"This will have a significant impact on the growing demand for real estate units of various kinds in Dubai over the next three years," the report said.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Still not buying !
too late to buy in Dubai without paying a big premium but not too late in Abu Dhabi.