Minister confident about Emirates property
The real estate sector in United Arab Emirates will continue to expand for the foreseeable future, it has been claimed.
Overseas property investors have been able to make healthy profits from the country in recent years, with population and economic growth forcing prices up.
Rental yields have also improved and a recent report by investment bank EFG-Hermes predicted that would continue, with average rents in Abu Dhabi set to increase by a further 25% before the end of the year.
The United Arab Emirates' minister of foreign trade Sheikha Lubna Al Qasimi believes there is little to suggest the boom that has made the country the "preferred venue" for property investors is slowing, reports Business Intelligence Middle East.
Speaking at the Asian International Investment and Property Show in Seoul, Sheika Lubna said: "Our real estate and construction sectors are expected to grow at around 24.4% and 21.6% respectively by 2010."
< Back to latest news