Sentiment in the UAE’s commercial property sector is at its strongest since immediately prior to the 2008 crash, new research showed, with demand climbing among both occupiers and investors.
The Royal Institute of Chartered Surveyors’ (RICS) Global Commercial Survey Q3 rated the Gulf state’s commercial real estate market as the best performing during the quarter, alongside that of Japan.
“The UAE market has been supported by the geopolitical situation through its position as a regional safe haven and a gradual economic recovery on the back of a pick-up in bank lending,” the report stated. “Significantly, the supply of distressed assets has dropped for the second successive quarter and there is increasing evidence of developers initiating new projects.”
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