Abu Dhabi Real
Overview - Q1 2019
Read our Q1 2019 Abu Dhabi market report for an overview of the office, residential, retail and hospitality sectors.
The performance of Abu Dhabi’s real estate market remained subdued in Q1 2019.
In the office sector, reduced business growth and corporate restructuring placed downward pressure on rents. This in turn impacted demand for residential space which saw both average rents and sale prices decline.
The retail market continued to face challenges from a slowdown in retail spending and the rise of e-commerce. This saw many mall operators offer extensive leasing incentives to attract and retain retailers.
In turn, the hospitality market saw occupancy levels register 79% in the year-to-February 2019. Despite a 19% increase in average daily rates (ADR’s) Y-o-Y over the same period, this can be attributed to one-off events in Q1 2019 (the Papal visit and the Special Olympics World Games) and is not suggestive of any sustained improvements in the market performance.
Read the full report to find out more.