4% increase in Dubai and Abu Dhabi real estate prices in the third quarter

A report by Jones Lang LaSalle (JLL) revealed that the sales prices of residential units in Dubai and Abu Dhabi during the third quarter of this year increased by 4%, compared to the same period in 2020, while rental prices in Dubai decreased by 3%, Prices remained stable in Abu Dhabi.

According to the report "An Overview of the Real Estate Market in the UAE in the Third Quarter of 2021" issued by JLL, the third quarter of this year witnessed the delivery of about 11 thousand housing units in the Emirate of Dubai, bringing the total inventory to 629,000 housing units, It is expected that 23,000 housing units will be delivered by the end of this year.


With regard to the Emirate of Abu Dhabi, the report indicated that about 2,900 housing units were delivered during the third quarter of this year, bringing the total inventory to 270 thousand housing units, and it is expected to deliver two thousand housing units by the end of this year.


With the return of the off-plan sales market to attract investors again, the sector witnessed the development of projects with attractive payment plans to take advantage of the rise in activity.


JLL expected that the demand for supply of high-quality villas during the remainder of this year will enhance the recovery in sales prices.


office sector:

JLL said that 40,000 square meters of office space were delivered in the Emirate of Dubai during the third quarter of this year, bringing the total inventory to about 9 million square meters, while 15,000 square meters were delivered in Abu Dhabi, bringing the stock to 3.8 million square meters.

She added that the rental prices of office space in Dubai decreased by 1% during the third quarter of this year compared to the same period last year, while it remained stable in Abu Dhabi.

She pointed out that technology and e-commerce companies recorded the highest rates of demand as they looked to expand their headquarters to accommodate their growing workforce, expecting more growth during the remainder of the year in new demand as business activity continues to recover.


“JLL” indicated the return of consumer confidence against the backdrop of easing restrictions of the Covid-19 pandemic and the expected increase in the number of international visitors, explaining that this will provide the retail sector with an opportunity to enter the recovery phase.

She said that the performance of local shopping centers in the country improved during the third quarter, and this was driven by the demand for consumers who live close to them, in addition to the ability of some retail companies in the food and beverage and household supplies sectors to keep pace with the effects of the pandemic better compared to their counterparts in other sectors.

She pointed out that in Dubai, nearly 40,000 square meters of retail space were added, bringing the stock to 4.4 million square meters, while 6.1 thousand square meters were added in Abu Dhabi, bringing the stock to 2.9 million square meters.

It expected to hand over 75,000 square meters in Dubai and 11,000 square meters in Abu Dhabi during the fourth quarter of this year.

The average rental price in shopping centers decreased during the third quarter of this year in Dubai by 1% on an annual basis, and in Abu Dhabi by 7%.

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