A survey conducted during the ninth edition of Cityscape Abu Dhabi revealed the important role that new government regulations are playing in Abu Dhabi's real estate sector, with 61% of the experts surveyed indicating that these regulations are the cornerstone of sustainability in the emirate's real estate sector.
JLL's latest quarterly report revealed that Abu Dhabi's real estate sector witnessed remarkable stability during the first quarter of 2015, while an exclusive survey conducted at yesterday's Abu Dhabi Market Insight event showed that 50% of respondents are confident that the real estate market will continue to grow at a steady rate.
Increased demand, weak availability of high quality and the removal of the cap on rent increases resulted in prime residential rents rising by 4% during the first three months of the year, further highlighting the remarkable growth in the market.
Hosted by JLL and supported by Masdar City for the second consecutive year, the “Abu Dhabi Market Insight” event brought together a panel of experts to discuss how to create a sustainable real estate market in Abu Dhabi.
Held under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the exhibition will run for three days until April 23 with the participation of more than 130 international and regional exhibitors on an exhibition area of 18,000 square meters.
The Abu Dhabi Urban Planning Council took center stage on the first day of the show, unveiling 22 new projects with final approvals, spanning more than 700,000 square meters.
Mohammed Khader Al Ahmed, Executive Director, Urban Development and Sustainability, Abu Dhabi Urban Planning Council, said: ”We agree with JLL's survey results that the new government regulations will have a significant impact on the market and its overall stability.’.
“The first day of Cityscape Abu Dhabi was very lively and a great success. We launched the new missions, visions and values of the Abu Dhabi Urban Planning Council's internal strategic plans from 2015 to 2020 and unveiled 22 projects that have received detailed approvals from the Abu Dhabi Urban Planning Council,’ he added.
Highlighting the positive investment climate at the show, Zawya Oasis, along with a large number of other real estate developers, launched new projects at the three-day event, with the company unveiling its new eco-friendly project, Ariyaf Villa.
Khaldoon Mohammed Saleh, General Manager of Zawya Oasis, said: ’The real estate market is booming at the moment, specifically the residential real estate market, which is at its best this year, which can be seen throughout the exhibition, and we are very happy to be here and look forward to participating again in this great exhibition.‘.
“Cityscape Abu Dhabi 2015 has started well for us, we have received a lot of inquiries and sales from existing and prospective clients, and the event provided us with the perfect opportunity to launch our new development, Areaf.’.
Cityscape Abu Dhabi is supported by Strategic Partner, Department of Municipal Affairs; Platinum Sponsor, Zawya Oasis; Silver Sponsor, Farglory; Official VIP Sponsor, Ejada Asset Management Group; and Official Financing Solution Provider, Abu Dhabi Finance.
