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Abu Dhabi property completions on the up

Date : (News Section: United Arab Emirates)

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Abu Dhabi property completions on the up The amount of UAE property in Abu Dhabi increased over Q2 as new housing stock continues to have an impact on the city's market, with the number of new homes built over the period jumping by 15.4 per cent.

Some 3,565 properties were completed in the emirate over the three-month period, compared to only 3,088 in the previous quarter.

Craig Plumb, Jones Lang LaSalle's head of research for the Middle East and North Africa region, told the National he expects this trend to continue over the coming months, with more homes being built in the area.

The city region of Abu Dhabi drove the impressive performance, which was curtailed by a 23.3 per cent drop in the number of new homes completed in the Al Ain region.

In Al Gharbia, new home development jumped by 42.2 per cent.

This follows a report from Jones Lang LaSalle suggesting that 11,000 villas and apartments could be completed in Abu Dhabi by the end of 2012.

Article by +Danny Bance on behalf of Propertyshowrooms.com News Desk ()

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