Property sale and rental activity across Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah was minimal in the fourth quarter of 2011 as problems with electricity and water supply and sewage continued to slow the pace of supply, according to a recent report by Asteco.
The residential and commercial market was stagnant for the second half of 2011 and is expected to remain unchanged due a lack of new supply.
"Transaction activity has been limited throughout the year for both the office and residential market as completed buildings stood empty due to a lack of utility connections and inadequate sewage in Sharjah, Ajman, RAK and Fujairah," says the report.
No comments:
Post a Comment