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UAE Freezones Biz News Updates
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UAE realty sector remains vibrant, active in summer
Chesterton
says that Dubai in particular has witnessed impressive growth levels across
different master developments. — AFP
Chestertons, the international property agency founded in 1805, stated
that the property sector across the UAE has remained vibrant and active
during this summer.
The company further stated that Dubai in particular has witnessed impressive
growth levels across different master developments. The company believes
that both Dubai and Abu Dhabi will witness a buoyant market through the last
quarter of 2014 due to a range of commercial and residential property
options that are available at a globally competitive price range.
Chestertons, with its Middle Eastern headquarters in Dubai, offers a full
range of property services, including residential and commercial sales and
leasing. The company also provides professional property valuation services.
Matthew White, director of sales and leasing at Chestertons Mena, said, “We
have seen a rapid growth in demand for properties based in Dubai and Abu
Dhabi during the last few months. There is a high level of interest from
local, GCC-based and international investors. As per reports, Dubai has over
700 projects worth $123 billion in various stages of planning and
construction. On the other hand, the UAE has also taken measures to
discourage speculative demand, which is a very healthy and positive sign for
the industry. As a result more end-users are now looking to capitalise on
the country’s growth potential and enjoy the tax-free, safe-haven status.”
“At the moment the supply-and-demand ratio in Dubai is well balanced to
safeguard the increase in growth and returns. This further convinces the
investors to make Dubai their home or corporate headquarters. During this
summer we also received an encouraging response from international tourists
who were interested in knowing more about the city’s property marketplace,”
White added.
As per a recent International Monetary Fund report, the UAE’s economic
growth is expected to be at 4.8 per cent in 2014 and about 4.5 per cent in
the coming year due to the series of megaprojects announced over the past 18
months.
Chestertons Mena also has a very active international sales division based
in Dubai, specialising in the sale of prime, Central London residential
apartments and houses to investors from across the entire Mena region. The
company has added another property award to its trophy cabinet as it was
named “UK Sales Agency of the Year” at the prestigious Resi Awards 2014, in
recognition of its outstanding residential sales service. It was also
shortlisted for the UK Lettings Agency and International Sales Team.
August 17, 2014 |
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Courtesy Khaleej Times
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