Commercial real estate resumes in Dubai
Multiple commercial real estate projects have been resumed by developers in Dubai during the first few months of 2019 in a push to deliver them ahead of Expo 2020, according to a new report.
JLL’s Q1 Dubai Real Estate Market Overview report said the government’s introduction of regulations to stimulate demand is also expected to drive the market this year.
JLL said that with ample choices available for tenants, landlords continue to offer incentives in order to retain current occupants, adding that this trend is expected to continue over the next 12 months.
In the residential space, around 9,800 units were completed in the first quarter of 2019 which is the highest number of units handed over in a single quarter for the last few years, the report said.
It noted that a rising trend in the space is that of new technologies being introduced in response to the government’s call to switch to paperless transactions.