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Abu Dhabi residential rents set to increase by 25% by end of 2008: EFG-Hermes research
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The Abu Dhabi real estate market is set to experience immense growth over the next two years, spurred on by the recent wave of investments and developments set to redefine Abu Dhabi’s image and appeal, an EFG-Hermes report announced today.
According to the research from the leading regional investment bank, this growth will be accompanied by a 20-25% increase in residential rents by the end of 2008 and by a further 15-20% increase in 2009.The market outlook for residential, commercial, retail and leisure segments uniformly indicates phenomenal growth. The retail segment is largely underserved and the three factors that will contribute to robust growth are – rising wealth in the Emirate, growing demand and strong macro-economic fundamentals. Iconic projects such as Saadiyat, Yas Island’s Formula 1 Grand Prix track, Raha Beach and Reem Island are poised to attract a new ware of tourism and will help generate greater interest in real estate across Abu Dhabi.
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