The report titled “UAE Real Estate Market Outlook to 2025 – By
Office Real Estate Market (Premium, Grade A and Grade B); By Retail Real Estate
Market (Super-Regional Malls, Regional Malls, Community Centers, Neighborhood
Center and Convenience Center); By Residential Real Estate Market (Apartment
and Villas) and By Hotel Real Estate Market (1-3 Star, 4 Star, 5 Star and
Hotel-Apartments)” provides a comprehensive analysis of the
real estate space within UAE. The report covers various aspects including
introduction of the UAE real estate market, macroeconomic overview, regional
office market coverage (including current and future supply, demand, gap
analysis, rental & occupancy rate), regional retail market coverage
(including current and future supply, demand, gap analysis, rental as well as
occupancy rate), entire UAE & regional residential market coverage
(including current and future supply, demand, gap analysis, rental and
occupancy rate for apartments and villas), regional hotel market coverage
(including number of hotels and keys, RevPAR and Occupancy rate); Snapshots of
Northern Emirates (Sharjah, Ajman, Ras Al-Khaimah, Fujairah and Umm Al-Quwain),
Snapshot of UAE industrial and co-working market, major growth drivers, issues
and challenges, regulatory landscape and competitive landscape. The report
concludes with future outlook and analyst recommendations highlighting the
major opportunities and cautions.
UAE Real Estate Market Overview
UAE’s real estate market is
currently in its mature stage. The period during 2013-2016 was marked by a
steady stream of supply, owing to the increasing GDP and increased demand in
the market. Heightened rents led to decrease in the demand due to lacking
affordability of the citizens and expatriates during 2014-2015. After 2014 oil
shock, the government has been actively attracting Foreign Direct Investment
and expatriates to the UAE in order to diversify their economy away from oil
generated revenues. The UAE Government launched the “Vision 2021”plan, for the
economic and social development of the country. From 2017 and onwards, the total
number of international players in each respective sub market increased. Newer
segments such as townhouses, and co-working spaces, smart and green buildings
gained traction in the market.
UAE Residential Real Estate
Market
The government started issuing
long term residence permits called “Golden Cards” in 2019. This particular
scheme aims at providing long term residency for investors and for exceptional
workers in the field of health, engineering, science and art. Around 6,800
investors from over 70 countries with investments totaling USD 27 billion were
being given permanent residency under this scheme. Among 9.4 million population
of UAE, 8.4 million people are a part of expatriate population. Growing
population was one of the key drivers which led to increase in demand for
residential units in the country.
UAE Retail Real Estate Market
Backed by high number of
expatriate population and strong consumer base, retail industry witnessed
strong growth in the land of Emirates. Store-based retailing will continue to
dominate in the UAE. Increased consumerism has given rise to increased faith of
people in buying products and services thereby increasing contribution to the
retail sector. Dubai has the highest share of super-regional malls as the
retail sector is trying to engage shoppers by offering them more than just a
shopping destination. All of these factors have increased the demand for retail
space in UAE.
UAE Hotel Real Estate Market
The UAE has long been recognized
as a premier tourism and leisure destination. Over the years, tourism sector
has experienced sustained growth, becoming a key component of UAE’s economy.
Dubai Tourism Strategy 2020 was launched in the year 2013 and is a strategic
road map with the key objective of attracting 20 million visitors per year by
the year ending 2020. It involves broadening Dubai offerings in terms of
events, attractions, infrastructure, services and packages and making it
appealing to a wider audience. Increase in the number of tourist attractions
has been elevating the demand for hotel units and hotel space within UAE.
UAE Office Real Estate Market
UAE’s office market is a thriving
space with the presence of both domestic and foreign brands, offering office
spaces in categories such as Premium, Grade A, and Grade B. In May 2019, the
UAE government announced that it would soon be possible for foreign
entrepreneurs to hold 100% shareholding in a locally incorporated business,
therefore, driving the office space in the country. Total foreign ownership was
previously only permitted in the UAE’s free zones, meaning businesses
incorporated ‘onshore’ had to be 51% locally owned. These factors point towards
the scope and profitability of the office market in UAE in the near future.
Snapshot on UAE Co-Working Real
Estate Market
Approximately 7 million people
are predicted to be working in co-working spaces (For instance, Regus and We
Work and Others) within UAE in 2019. Based on the global growth that took place
in co-working spaces, it is anticipated that UAE will experience steady growth
in co-working space in the upcoming years. Approximately, half of the blue-chip
companies will have some sort of shared office space by end of 2020. Majority
of co-working space providers intends to either enter into a partnership or
have lease agreement with the landlords.
Key Segments Covered
UAE Real Estate Market
By Geography:
Dubai
Abu Dhabi
Ajman
Sharjah
Fujairah
Umm-Al-Quwain
Ras-Al-Khaimah
UAE Office Real Estate Market
By Type:
Premium Office
Type A Office
Type B Office
UAE Retail Real Estate Market
By Type:
Super-Regional Mall
Regional Mall
Community Center
Neighborhood Center
Convenience Center
UAE Residential Real Estate
Market
By Type:
Apartments
Villas
UAE Hotel Real Estate Market
By Type:
1-3 Star Hotels
4 Star Hotels
5 Star Hotels
Hotel Apartments
(Deluxe/Superior/ Standard)
Key Target Audience
Real Estate Developers
Independent Investors
Real Estate Consulting Companies
Third Party Real Estate Companies
Independent Architects
Industry Associations
Government Agencies
Time Period Captured in the
Report:
Historical Period – 2013 - 2018
Forecast Period – 2019F – 2025F
Real Estate Developers Covered:
EMAAR Properties
DAMAC Properties
Nakheel Properties
Meraas
Aldar Properties
Manazel Real Estate
Aziz Developments
Case Studies Covered:
Sense-R (Virtual Reality)
Take Leap (Virtual Reality)
AirBnb (Shared Economy)
Property Finder
Bayut UAE
Abu Dhabi Mall
Yas Mall
Marriot International Group
Novotel Abu Dhabi
Surf, Abu Dhabi Creek Harbor
Emaar Business Park
Key Topics Covered in the Report
UAE Residential Real Estate
Market, 2013-2025
UAE Retail Real Estate Market,
2013-2025
UAE Hotels Real Estate Market,
2013-2025
UAE Industrial Real Estate
Market, 2018
UAE Co-working Space Snapshot
Disruptive Technologies Overview:
PropTech in UAE Real Estate
Growth Drivers and Challenges
UAE Real Estate Market Major Real
Estate Developer Profiles
Supply and Demand Gap Analysis,
2013-2025F
Major Projects Launched in
Different Real Estate Markets
Recommendations about Success
Factors for Developing Different Real Estate Markets
For more information on the
research report, refer to below link:
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