Business Extra: What's in store for the real estate and construction markets?
Signs of optimism - especially in the capital - are emerging
Although rents and sale prices in the UAE's property market remain on a downward trajectory, there are signs of optimism — especially in the capital, where developer Miral this week secured investment from a Singapore backer for its Yas Village project, and where Aldar Properties began the first sales of freehold plots to any nationality on Saadiyat Island.
Host and assistant editor in chief Mustafa Alrawi speaks to assistant business editor Michael Fahy about these announcements and what they signify for the UAE's property markets, and whether old relationships between Abu Dhabi and Dubai's property markets still hold.
They also discuss developments in neighbouring Saudi Arabia, where work is progressing at its $500bn flagship Neom project, where deals have been signed for a construction village accommodating up to 30,000 people who will build this futuristic city.
Meanwhile, also being disucssed is Emaar's decision to prevent home owners in its communities from using properties as holiday lets, while at the same time the company launches its own digital platform offering a similar service.
In this episode:
— New construction projects (0m 43s)
— Abu Dhabi rent (1m 37s)
— Emaar’s short term rentals (15m 32s)
— Headlines (22m 03s)
Updated: October 28, 2019 06:50 PM