Construction firm Laing O’Rourke plans to add up to 4,500 more staff to its operations in the Middle East next year. The largest private construction company in the UK, it has said that its future growth will be in the GCC. The company currently employs just over 4,000 people in the Middle Ea...
Dar Al Arkan launches its Qasr Khozam development today. The new town in Jeddah, Saudi Arabia is a 4 million square metre area of land that also incorporates the palace of the late King Abdulaziz bin Al Saud. The development is expected to take six years to complete and will be done in phases. The m...
Dubai-based ACI Real Estate has launched a Dhs3bn tennis academy and resort in the UAE emirate of Ras Al Khaimah along with tennis legend Boris Becker, who holds a 50% partnership in the academy and part ownership in the rest of the resort. The Boris Becker Beach Resort and Tennis Academy is ACI...
Dubai's attorney general said yesterday that former Deyaar chief executive Zack Shahin may remain in custody until the prosecution has completed its investigation, reported Khaleej Times. The detention of Shahin, who is under investigation for alleged financial irregularities, was extended for ...
Dubai-based Nakheel and The Land Holding, a Saudi Arabian developer, have signed an agreement to form a joint venture company for the development of projects at Waterfront, a Nakheel coastal master-development. According to Yousuf Kazim, the managing director of Nakheel Joint Ventures, the new compa...
Abu Dhabi is the capital of the seven princely states of United Arab Emirates. It is by no means a silent spectator to Dubai's development boom. The state has its own flourishing economy to rival the best in the world. Its current ruler has envisioned many award winning plans to put Abu Dhabi on the forefront of real estate development. Until a few years earlier, the economy was depended on Oil and Gas sectors which constituted almost 95 percent of the entire UAE production. Times have changed. In an unprecedented rush to catch on with Dubai and other major financial hubs, the state has invested approximately Dh 220 billion in the real estate sector, for the next five years.
Great Demand
The demand for housing exceeds supply. The occupancy levels in the city are an astounding 98 percent. There are several projects that have reported a 100 percent booking levels before completion. Almost 30,000 residential units under construction in the city. Still, more than 200,000 units will be needed by the end of 2012.
Future Opportunities
The population of the city is estimated to double in the next ten years which has resulted in acute shortages of residential and commercial properties. Approximate lease-able area for retail projects will increase by 165 % in the next four years. Rental rates have moved up to 40 percent in certain areas, within two years. The data is itself enough to provide a strong case for investment in Abu Dhabi.
The recent investment in real estate and properties in Abu Dhabi has seen 20 to 30 percent growth rate, which is among the fastest in the world. That's not it! The president of Abu Dhabi Chamber of Commerce has suggested that future mega projects are in store for the investor which accounts to an amazing Dh 900 billion investment. The rate of return for some of the projects is around 30 percent, far better than Dubai.
Destination of Choice
According to the Manpower Middle East survey, Abu Dhabi was ranked as the number one choice for workers already in the Middle East and overall sixth most desired work destination. You can't go wrong with the locals. If you are looking to buy a property in the city, Landvest Limited offers some excellent ideas.
The company employs seasonal professionals with years of experience in the Middle East real estate. All of its properties are handpicked and provide revenue generating investment opportunities. Your budget doesn't matter. Your choice does. Landvest specializes in targeting all real estate niches that is destined to provide future growth. It has an excellent reputation among the top UAE developers.
Visit landvestdubai and select among carefully selected investment opportunities in UAE. Remember, your dreamland may just be a click, away.
