Abu Dhabi to see 14,000 new residential units this year, report says

29/07/2011 - Dubai Property News Posted by Bob Brunskill
Abu Dhabi to see 14,000 new residential units this year, report says

Abu Dhabi's rental market is beginning to cool as around 14,000 new residential units enter the sector this year, according to new figures. In news that could be of interest to people considering property investment, Abu Dhabi's rentals fell by ten per cent in the second quarter, reports Gulf News. Jones Lang LaSalle in the Middle East and North Africa also found that thousands of new residential properties are due on the market - suggesting that now could be a good time to invest. Craig Plumb, head of research at Jones Lang LaSalle, told the news provider that Abu Dhabi's real estate market is "entering a new phase". "It is one marked by enhanced supply quality and increasingly value-conscious demand, which will reward well-built and well maintained stock as rents continue to decline," he said. Meanwhile, Dubai is banning eating on the Metro during Ramadan, according to the Roads and Transport Authority.