Abu Dhabi 'to get 7,500 new residential units annually until 2012'

16/03/2010 - Northern Emirates Property & Investment News
Abu Dhabi 'to get 7,500 new residential units annually until 2012'

Posted by Neil King

An average of 7,500 residential units are expected to be delivered annually in Abu Dhabi until 2012.

The prediction was made in an Investment Boutique (IB) report entitled "Abu Dhabi State of the Market 2010", Emirates Business 24/7 reported.

"While only confirmed projects have been considered for this review, supply estimates for 2011 onwards may be lower or higher than estimated due to a number of developers still rethinking strategies and schedules," said Heather Wipperman, IB chief executive officer.

The report put current residential supply at 133,691 units and claimed that this will rise by 17 per cent to 156,591 units by 2012.

IB based its findings on government figures and its own supply database, which covered more than 40 major development projects.

This week, WAM News Agency reported that Abu Dhabi's president has ordered the distribution of 800 residential plots to UAE nationals – a move designed to promote social stability in the emirate.

There’s never been a better time to invest in Dubai, say industry heavyweights heading to this month’s Cityscape Global Conference. Invest in your Future - Click here to learn more.