Abu Dhabi realty sector shows strong signs of maturity

18/04/2014 06:44 AST

With all sectors of the Abu Dhabi property market gaining momentum in making a healthy recovery, industry experts say the real estate sector shows strong signs of maturity, as the emirate looks towards achieving its 2030 vision.

The sustainability of such momentum is still, however, under debate, while the role of both private and public sectors to support the capital’s new health continues to unfold. That will be one of many topics discussed at the upcoming Abu Dhabi Market Overview closed door forum, taking place on the first day of Cityscape Abu Dhabi, which runs from April 22 to 24 at the Abu Dhabi National Exhibition Centre (Adnec).

The half-day forum will put a spotlight on Abu Dhabi’s most recent economic indicators, while a dedicated panel discussion with industry experts will tackle how the local market can assure the current health continues to grow at a sustainable rate.

Welcoming more than 120 new and returning exhibitors from across the Middle East and further afield, the eighth edition of Cityscape Abu Dhabi will additionally feature a VIP networking reception on the April 23.

David Dudley, Regional Director of JLL and headline speaker at the Market Overview event will be revealing the recent performance of each real estate sector for the first quarter of 2014 to key industry players.

Examining JLL’s outlook on future short, medium and long term performances, Dudley believes the Abu Dhabi property market is maturing and a more measured approach has been taken following the 2006 to 2008 boom. “The purchaser market has become savvier this time round. Many investors got their fingers burnt previously and I would hope that they continue to ask the right questions,” he said.

“We expect that many of the schemes being launched by developers at Cityscape Abu Dhabi will be more modest in scale, more focused on end-user requirements, will be in locations that have gained momentum and have infrastructure in place and will impose restrictions on purchasers to prevent such things as short-term flipping, thus ensuring a more measured approach this time round.”

The Gulf Today