Abu Dhabi real estate market remains oversupplied | GulfNews.com:
"Abu Dhabi’s real estate markets remain in over-supply, with additional new supply still in the pipeline leading to further increases to market-wide vacancy rates, property advisory firm Jones Lang LaSalle said in its latest report on the emirate.
“There continues to be a significant distinction between high grade and low grade product - while the prime market is showing signs of stability and early recovery, the performance of lower grade stock continues to decline,” the report says.
It added: “During Q2 2013, prime residential rents remained stable, following 8 per cent growth during the first quarter. The overall office market remains over-supplied, pending further progress with government economic development initiatives to diversify the economy and generate new jobs. However, prime office rents have started to stabilize, with prime office rents having remained stable the last four quarters.”"
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